HudBay Minerals Inc $HBM Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. cut its holdings in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 73.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 50,000 shares of the mining company’s stock after selling 140,000 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in HudBay Minerals were worth $757,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Waterfront Wealth Inc. boosted its position in shares of HudBay Minerals by 2.0% during the 3rd quarter. Waterfront Wealth Inc. now owns 39,052 shares of the mining company’s stock valued at $588,000 after purchasing an additional 756 shares in the last quarter. Savant Capital LLC raised its holdings in shares of HudBay Minerals by 2.4% in the 3rd quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock worth $485,000 after purchasing an additional 760 shares in the last quarter. Creative Planning raised its holdings in shares of HudBay Minerals by 5.4% in the 2nd quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after purchasing an additional 1,289 shares in the last quarter. Strong Tower Advisory Services lifted its stake in HudBay Minerals by 2.4% during the third quarter. Strong Tower Advisory Services now owns 94,175 shares of the mining company’s stock valued at $1,428,000 after purchasing an additional 2,182 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in HudBay Minerals by 29.5% during the third quarter. CIBC Private Wealth Group LLC now owns 9,714 shares of the mining company’s stock valued at $147,000 after purchasing an additional 2,215 shares during the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

HudBay Minerals Trading Down 3.2%

Shares of NYSE HBM opened at $18.05 on Friday. HudBay Minerals Inc has a one year low of $5.95 and a one year high of $28.74. The firm has a market capitalization of $7.16 billion, a PE ratio of 12.62, a PEG ratio of 0.25 and a beta of 1.27. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $24.23 and a two-hundred day moving average price of $19.18.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). The business had revenue of $732.90 million during the quarter, compared to analyst estimates of $730.13 million. HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. HudBay Minerals’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS. As a group, analysts predict that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, March 27th. Investors of record on Tuesday, March 10th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a yield of 9.0%. HudBay Minerals’s payout ratio is presently 0.70%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on HBM shares. UBS Group assumed coverage on shares of HudBay Minerals in a research report on Thursday, January 8th. They issued a “buy” rating on the stock. National Bank Financial downgraded HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 28th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, January 15th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a report on Sunday, December 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, HudBay Minerals has an average rating of “Moderate Buy” and an average price target of $26.00.

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.