Hillsdale Investment Management Inc. Sells 394,500 Shares of HudBay Minerals Inc $HBM

Hillsdale Investment Management Inc. decreased its position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 38.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 628,600 shares of the mining company’s stock after selling 394,500 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.16% of HudBay Minerals worth $12,502,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of HudBay Minerals by 2.4% in the third quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock valued at $245,355,000 after purchasing an additional 373,399 shares during the period. Invesco Ltd. raised its position in shares of HudBay Minerals by 0.4% in the third quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company’s stock valued at $172,693,000 after purchasing an additional 46,948 shares during the period. Dimensional Fund Advisors LP raised its position in shares of HudBay Minerals by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 11,334,474 shares of the mining company’s stock valued at $171,832,000 after purchasing an additional 348,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of HudBay Minerals by 10.4% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,502,218 shares of the mining company’s stock valued at $159,111,000 after purchasing an additional 986,278 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of HudBay Minerals in the third quarter valued at approximately $123,736,000. Institutional investors own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HBM. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Zacks Research downgraded shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Citigroup raised their price objective on shares of HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, Barclays assumed coverage on shares of HudBay Minerals in a report on Thursday, May 21st. They set an “overweight” rating and a $30.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $27.33.

HudBay Minerals Stock Performance

NYSE:HBM opened at $29.16 on Friday. The firm’s 50-day moving average is $23.57 and its 200-day moving average is $22.16. HudBay Minerals Inc has a 52-week low of $8.76 and a 52-week high of $29.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36. The company has a market cap of $11.58 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 0.33 and a beta of 1.37.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The company had revenue of $757.30 million for the quarter, compared to the consensus estimate of $684.73 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The business’s revenue was up 27.3% compared to the same quarter last year. Equities research analysts anticipate that HudBay Minerals Inc will post 1.65 earnings per share for the current year.

HudBay Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Tuesday, June 9th. HudBay Minerals’s payout ratio is 0.60%.

HudBay Minerals Company Profile

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.