AIA Group Ltd Trims Stock Holdings in HudBay Minerals Inc $HBM

AIA Group Ltd lowered its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 40.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,302 shares of the mining company’s stock after selling 32,847 shares during the quarter. AIA Group Ltd’s holdings in HudBay Minerals were worth $1,010,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Allworth Financial LP raised its stake in HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after acquiring an additional 1,033 shares during the period. Quarry LP purchased a new stake in shares of HudBay Minerals in the third quarter worth $38,000. IFP Advisors Inc purchased a new stake in shares of HudBay Minerals in the third quarter worth $45,000. Banque Cantonale Vaudoise raised its position in shares of HudBay Minerals by 513.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after purchasing an additional 2,655 shares during the period. Finally, Jones Financial Companies Lllp raised its position in shares of HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after purchasing an additional 3,733 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HBM. Citigroup reiterated a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Weiss Ratings upgraded HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 29th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a report on Monday. Finally, Bank of America dropped their price target on HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research note on Thursday, July 9th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.33.

HudBay Minerals Price Performance

NYSE:HBM opened at $20.86 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $9.27 billion, a P/E ratio of 12.57, a P/E/G ratio of 0.30 and a beta of 1.48. HudBay Minerals Inc has a 12 month low of $8.93 and a 12 month high of $32.15. The business’s 50-day moving average is $25.17 and its 200 day moving average is $24.05.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The business had revenue of $757.30 million during the quarter, compared to analysts’ expectations of $684.73 million. During the same quarter last year, the business posted $0.24 EPS. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. On average, equities research analysts forecast that HudBay Minerals Inc will post 1.61 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Tuesday, June 9th were issued a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. HudBay Minerals’s dividend payout ratio (DPR) is 1.81%.

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.