Amitell Capital Pte Ltd Trims Position in HudBay Minerals Inc $HBM

Amitell Capital Pte Ltd decreased its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 47.1% in the 3rd quarter, according to 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 period. HudBay Minerals makes up approximately 1.3% of Amitell Capital Pte Ltd’s holdings, making the stock its 28th largest position. Amitell Capital Pte Ltd’s holdings in HudBay Minerals were worth $2,139,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in HudBay Minerals during the 3rd quarter valued at approximately $45,000. Jones Financial Companies Lllp grew its stake in shares of HudBay Minerals by 131.6% in 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 last quarter. Plato Investment Management Ltd acquired a new position in shares of HudBay Minerals in the second quarter valued at approximately $84,000. Verus Capital Partners LLC purchased a new stake in shares of HudBay Minerals during the third quarter worth approximately $152,000. Finally, Semanteon Capital Management LP acquired a new stake in shares of HudBay Minerals during the third quarter worth $165,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Price Performance

HudBay Minerals stock opened at $27.71 on Thursday. The firm has a market capitalization of $11.00 billion, a PE ratio of 19.38, a P/E/G ratio of 0.70 and a beta of 1.33. HudBay Minerals Inc has a 52 week low of $5.95 and a 52 week high of $28.74. The firm’s 50-day simple moving average is $23.35 and its 200 day simple moving average is $17.86. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.18.

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

HudBay Minerals Announces Dividend

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. This represents a dividend yield of 8.0%. The ex-dividend date is Tuesday, March 10th. HudBay Minerals’s payout ratio is currently 0.70%.

Analyst Ratings Changes

Several brokerages have issued reports on HBM. Zacks Research cut shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Citigroup boosted their price target 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. National Bank Financial cut shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Wednesday, January 14th. Finally, Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price 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.