Amitell Capital Pte Ltd Cuts Stock Position in HudBay Minerals Inc $HBM

Amitell Capital Pte Ltd decreased its holdings in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 47.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 141,077 shares of the mining company’s stock after selling 125,509 shares during the quarter. HudBay Minerals accounts for about 1.3% of Amitell Capital Pte Ltd’s holdings, making the stock its 28th biggest holding. Amitell Capital Pte Ltd’s holdings in HudBay Minerals were worth $2,139,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. GMT Capital Corp acquired a new stake in HudBay Minerals during the 2nd quarter worth approximately $337,809,000. Vanguard Group Inc. raised its stake 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 acquiring an additional 373,399 shares in the last quarter. L1 Capital Pty Ltd boosted its holdings in HudBay Minerals by 4.4% in the second quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock valued at $159,864,000 after purchasing an additional 630,703 shares during the period. Hancock Prospecting Pty Ltd purchased a new position in HudBay Minerals in the second quarter valued at $154,359,000. Finally, Invesco Ltd. grew its stake in HudBay Minerals by 8.7% during the 2nd quarter. Invesco Ltd. now owns 11,344,408 shares of the mining company’s stock worth $120,364,000 after purchasing an additional 903,517 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

HudBay Minerals Stock Down 0.3%

HudBay Minerals stock opened at $27.71 on Thursday. The company has a market capitalization of $11.00 billion, a P/E ratio of 19.38, a PEG ratio of 0.70 and a beta of 1.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.95. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $28.74. The stock has a 50-day simple moving average of $23.35 and a 200-day simple moving average of $17.86.

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

HudBay Minerals Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th will be issued a $0.01 dividend. This represents a dividend yield of 8.0%. The ex-dividend date of this dividend is Tuesday, March 10th. HudBay Minerals’s payout ratio is presently 0.70%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Wednesday, January 14th. National Bank Financial cut shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. UBS Group initiated coverage on shares of HudBay Minerals in a report on Thursday, January 8th. They set a “buy” rating for the company. Citigroup increased their price objective on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $26.00.

HudBay Minerals 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.