HudBay Minerals Inc $HBM Shares Sold by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. trimmed its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 33.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 60,761 shares of the mining company’s stock after selling 31,158 shares during the period. Amova Asset Management Americas Inc.’s holdings in HudBay Minerals were worth $1,270,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in HBM. Allworth Financial LP boosted its position in shares of HudBay Minerals by 107.9% during the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after buying an additional 1,033 shares during the period. Quarry LP acquired a new position in HudBay Minerals during the 3rd quarter worth about $38,000. IFP Advisors Inc acquired a new position in HudBay Minerals during the 3rd quarter worth about $45,000. Banque Cantonale Vaudoise boosted its holdings in 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 acquiring an additional 2,655 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in HudBay Minerals in the 4th quarter valued at about $71,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

HudBay Minerals Trading Up 10.1%

NYSE:HBM opened at $22.95 on Wednesday. HudBay Minerals Inc has a 1 year low of $8.93 and a 1 year high of $32.15. The stock has a market cap of $10.19 billion, a P/E ratio of 13.83, a P/E/G ratio of 0.31 and a beta of 1.48. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36. The stock has a 50-day simple moving average of $25.09 and a 200-day simple moving average of $24.07.

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

HudBay Minerals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors 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 was Tuesday, June 9th. HudBay Minerals’s dividend payout ratio (DPR) is currently 1.81%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research report on Monday, July 6th. Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a report on Monday. Barclays upped their target price on shares of HudBay Minerals from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Bank of America reduced their target price on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a report on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

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.