Dimensional Fund Advisors LP Sells 1,429,804 Shares of HudBay Minerals Inc $HBM

Dimensional Fund Advisors LP lessened its position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 12.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,700,999 shares of the mining company’s stock after selling 1,429,804 shares during the quarter. Dimensional Fund Advisors LP owned 2.44% of HudBay Minerals worth $202,685,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp raised its position in HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after acquiring an additional 3,733 shares during the period. Goldman Sachs Group Inc. grew its position in shares of HudBay Minerals by 144.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock valued at $55,264,000 after acquiring an additional 4,299,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of HudBay Minerals by 6.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company’s stock worth $3,337,000 after purchasing an additional 27,944 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of HudBay Minerals by 7.4% in the 2nd quarter. Geode Capital Management LLC now owns 221,685 shares of the mining company’s stock worth $2,363,000 after purchasing an additional 15,235 shares in the last quarter. Finally, Creative Planning raised its holdings in HudBay Minerals by 5.4% in the 2nd quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after purchasing an additional 1,289 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on HBM shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, June 25th. Weiss Ratings raised shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 29th. Bank of America dropped their price target on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Citigroup reissued a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.33.

HudBay Minerals Stock Down 1.2%

Shares of HBM stock opened at $22.36 on Friday. The stock has a market cap of $9.93 billion, a P/E ratio of 13.47, a PEG ratio of 0.34 and a beta of 1.48. HudBay Minerals Inc has a 52 week low of $8.93 and a 52 week high of $32.15. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $24.86 and its two-hundred day simple moving average is $24.10.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $757.30 million for 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 company’s revenue was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. Analysts predict that HudBay Minerals Inc will post 1.6 EPS for the current fiscal 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 paid a dividend of $0.01 per share. 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 presently 1.81%.

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.