AIA Group Ltd Sells 32,847 Shares of HudBay Minerals Inc $HBM

AIA Group Ltd lowered its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 40.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,302 shares of the mining company’s stock after selling 32,847 shares during the period. AIA Group Ltd’s holdings in HudBay Minerals were worth $1,010,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in HBM. Waterfront Wealth Inc. raised its position in HudBay Minerals by 1.0% during the fourth quarter. Waterfront Wealth Inc. now owns 39,451 shares of the mining company’s stock valued at $783,000 after purchasing an additional 399 shares during the period. Strong Tower Advisory Services boosted its holdings in shares of HudBay Minerals by 0.6% in the 4th quarter. Strong Tower Advisory Services now owns 94,762 shares of the mining company’s stock worth $1,881,000 after purchasing an additional 587 shares during the period. Vontobel Holding Ltd. boosted its holdings in shares of HudBay Minerals by 0.6% in the 4th quarter. Vontobel Holding Ltd. now owns 126,090 shares of the mining company’s stock worth $2,503,000 after purchasing an additional 738 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of HudBay Minerals by 25.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,933 shares of the mining company’s stock valued at $98,000 after purchasing an additional 986 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of HudBay Minerals by 107.9% during the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after purchasing an additional 1,033 shares during the last quarter. 57.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HBM. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th. Citigroup reiterated a “positive” rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Barclays increased their target price on shares of HudBay Minerals from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a report on Monday. Finally, Weiss Ratings raised shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 29th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.33.

HudBay Minerals Stock Up 2.5%

NYSE:HBM opened at $20.86 on Tuesday. The company has a market cap of $9.27 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.30 and a beta of 1.48. HudBay Minerals Inc has a twelve month low of $8.93 and a twelve month high of $32.15. 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 stock has a fifty day simple moving average of $25.17 and a 200-day simple moving average of $24.05.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $757.30 million for the quarter, compared to analysts’ expectations of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. Analysts anticipate that HudBay Minerals Inc will post 1.61 EPS for the current year.

HudBay Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 9th. HudBay Minerals’s payout ratio is 1.81%.

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.