HudBay Minerals Inc $HBM Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,273 shares of the mining company’s stock after selling 3,030 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in HudBay Minerals were worth $1,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HBM. SBI Securities Co. Ltd. lifted its position in shares of HudBay Minerals by 64.6% in the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company’s stock worth $29,000 after purchasing an additional 1,481 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in HudBay Minerals in the 1st quarter valued at approximately $33,000. Jones Financial Companies Lllp lifted its position in HudBay Minerals by 131.6% in the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after buying an additional 3,733 shares in the last quarter. Headlands Technologies LLC purchased a new stake in HudBay Minerals in the 1st quarter worth approximately $92,000. Finally, Virtu Financial LLC acquired a new stake in shares of HudBay Minerals during the 1st quarter valued at $142,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Veritas upgraded HudBay Minerals to a “strong-buy” rating in a report on Monday, July 7th. CIBC reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. The Goldman Sachs Group initiated coverage on HudBay Minerals in a research note on Monday, September 8th. They set a “buy” rating for the company. Wall Street Zen cut HudBay Minerals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 25th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of HudBay Minerals in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. Based on data from MarketBeat, HudBay Minerals presently has a consensus rating of “Buy” and a consensus target price of $19.50.

HudBay Minerals Price Performance

NYSE:HBM opened at $15.99 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.86. HudBay Minerals Inc has a one year low of $5.95 and a one year high of $17.73. The company has a fifty day moving average price of $14.56 and a 200 day moving average price of $11.12. The stock has a market cap of $6.33 billion, a P/E ratio of 21.90 and a beta of 1.55.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Wednesday, August 13th. The mining company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.11 by $0.08. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The firm had revenue of $536.40 million during the quarter, compared to analysts’ expectations of $558.21 million. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. Analysts anticipate that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

HudBay Minerals Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, September 19th. Stockholders of record on Tuesday, September 2nd were issued a $0.0073 dividend. This represents a dividend yield of 17.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from HudBay Minerals’s previous semi-annual dividend of $0.01. HudBay Minerals’s dividend payout ratio (DPR) is presently 1.37%.

HudBay Minerals Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.