BNP Paribas Financial Markets Has $21.74 Million Stake in HudBay Minerals Inc $HBM

BNP Paribas Financial Markets decreased its position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 22.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,094,978 shares of the mining company’s stock after selling 318,080 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.28% of HudBay Minerals worth $21,735,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HBM. Arrowstreet Capital Limited Partnership bought a new stake in shares of HudBay Minerals during the third quarter worth about $123,736,000. Norges Bank bought a new stake in shares of HudBay Minerals during the fourth quarter worth about $105,315,000. Goldman Sachs Group Inc. grew its holdings in shares of HudBay Minerals by 144.2% during the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock worth $55,264,000 after purchasing an additional 4,299,428 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of HudBay Minerals by 145.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,502,180 shares of the mining company’s stock worth $98,466,000 after purchasing an additional 3,851,771 shares during the last quarter. Finally, Bank of Nova Scotia raised its position in HudBay Minerals by 662.0% during the 3rd quarter. Bank of Nova Scotia now owns 4,273,384 shares of the mining company’s stock worth $64,783,000 after purchasing an additional 3,712,572 shares during the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HBM. Barclays began coverage on HudBay Minerals in a research note on Thursday, May 21st. They issued an “overweight” rating and a $30.00 price objective on the stock. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Citigroup lifted their price objective on HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Zacks Research lowered HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, HudBay Minerals has a consensus rating of “Buy” and a consensus target price of $27.33.

HudBay Minerals Trading Down 14.9%

NYSE:HBM opened at $25.63 on Friday. The company has a market cap of $10.18 billion, a P/E ratio of 15.44, a P/E/G ratio of 0.35 and a beta of 1.43. The stock’s fifty day moving average price is $24.66 and its two-hundred day moving average price is $22.62. HudBay Minerals Inc has a 1 year low of $8.93 and a 1 year high of $32.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.34 by $0.06. The business had revenue of $757.30 million during the quarter, compared to the consensus estimate of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The firm’s revenue was up 27.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. As a group, analysts expect that HudBay Minerals Inc will post 1.66 EPS for the current year.

HudBay Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. HudBay Minerals’s dividend payout ratio is presently 0.60%.

About HudBay Minerals

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.