259,792 HudBay Minerals Inc $HBM Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management reduced its HudBay Minerals stake by 31.6%, selling 259,792 shares and retaining 562,364 shares valued at approximately $15.0 million. Institutional investors collectively own 57.82% of the company.
• HudBay Minerals recently reported quarterly EPS of $0.28, exceeding analyst expectations of $0.26, while revenue rose 17.7% year over year to $631.3 million.
• Analysts remain broadly positive, with 10 Buy ratings and two Hold ratings, resulting in a “Moderate Buy” consensus and an average price target of $31.33, well above the reported $21.96 share price.

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 31.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 562,364 shares of the mining company's stock after selling 259,792 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.13% of HudBay Minerals worth $15,004,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Triasima Portfolio Management inc. raised its position in shares of HudBay Minerals by 4.2% during the 3rd quarter. Triasima Portfolio Management inc. now owns 587,103 shares of the mining company's stock valued at $15,731,000 after purchasing an additional 23,556 shares during the period. GK Wealth Management LLC bought a new position in HudBay Minerals in the 3rd quarter worth $87,000. Acasta Partners UK LLP boosted its holdings in HudBay Minerals by 75.7% in the 3rd quarter. Acasta Partners UK LLP now owns 197,352 shares of the mining company's stock worth $5,270,000 after buying an additional 85,000 shares during the period. Bullseye Investment Management LLC bought a new position in shares of HudBay Minerals in the second quarter worth about $30,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in HudBay Minerals during the 2nd quarter valued at approximately $36,000. Institutional investors own 57.82% of the company's stock.

HudBay Minerals Trading Up 0.3%

HBM opened at $21.96 on Friday. The stock has a fifty day moving average price of $26.69 and a 200-day moving average price of $25.44. HudBay Minerals Inc has a 12 month low of $14.34 and a 12 month high of $32.15. The company has a current ratio of 2.24, a quick ratio of 1.93 and a debt-to-equity ratio of 0.17. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 0.39 and a beta of 1.58.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02. The business had revenue of $631.30 million during the quarter, compared to analyst estimates of $632.43 million. HudBay Minerals had a net margin of 27.48% and a return on equity of 9.47%. The company's quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 earnings per share. As a group, equities research analysts anticipate that HudBay Minerals Inc will post 1.40 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Tuesday, September 8th were paid a C$0.01 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. HudBay Minerals's dividend payout ratio (DPR) is 1.76%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HBM shares. Weiss Ratings upgraded HudBay Minerals from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Jefferies Financial Group restated a "buy" rating on shares of HudBay Minerals in a report on Monday, July 6th. Barclays restated an "overweight" rating on shares of HudBay Minerals in a report on Tuesday, October 6th. Wall Street Zen raised HudBay Minerals from a "hold" rating to a "buy" rating in a research report on Saturday, October 17th. Finally, Citigroup restated a "positive" rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, HudBay Minerals currently has an average rating of "Moderate Buy" and an average target price of $31.33.

HudBay Minerals Company Profile

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, gold, zinc, and silver deposits. Copper is its principal product, with associated precious and base metals produced from several of its operations.

The company operates in Canada, Peru, and the United States. Its assets include the Constancia copper-molybdenum mine in southern Peru; the Snow Lake operations in Manitoba, which produce copper, gold, zinc, and silver; and the Copper Mountain mine in British Columbia.

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