Connor Clark & Lunn Investment Management Ltd. Decreases Holdings in HudBay Minerals Inc (NYSE:HBM)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has reduced its holdings in HudBay Minerals Inc by 69.7%, now owning approximately 2.36 million shares valued at around $17.93 million.
• In contrast, Sumitomo Mitsui Trust Group Inc. significantly increased its holdings by 142.8%, now owning over 100,000 shares worth $761,000.
• HudBay Minerals reported earnings of $0.24 per share for the last quarter, exceeding analysts' expectations of $0.10, with a revenue increase of 13.3% year-over-year.

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 69.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,364,909 shares of the mining company's stock after selling 5,435,983 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.60% of HudBay Minerals worth $17,932,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of HBM. Tower Research Capital LLC TRC increased its holdings in HudBay Minerals by 9,877.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock worth $25,000 after acquiring an additional 3,062 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of HudBay Minerals by 64.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock worth $29,000 after purchasing an additional 1,481 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of HudBay Minerals during the 1st quarter worth about $33,000. Algert Global LLC acquired a new stake in HudBay Minerals in the 4th quarter worth about $86,000. Finally, Hsbc Holdings PLC acquired a new stake in HudBay Minerals in the 4th quarter worth about $97,000. 57.82% of the stock is owned by institutional investors and hedge funds.

HudBay Minerals Stock Down 2.8%

Shares of NYSE:HBM traded down $0.32 during trading on Thursday, hitting $11.02. 10,237,473 shares of the company were exchanged, compared to its average volume of 7,503,303. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.32 and a quick ratio of 1.92. The firm's 50 day moving average price is $9.99 and its 200-day moving average price is $8.59. The stock has a market capitalization of $4.36 billion, a P/E ratio of 28.99, a PEG ratio of 0.25 and a beta of 1.63. HudBay Minerals Inc has a 12-month low of $5.95 and a 12-month high of $12.10.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its quarterly earnings data on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.08. HudBay Minerals had a net margin of 7.40% and a return on equity of 8.17%. The company had revenue of $536.40 million during the quarter, compared to the consensus estimate of $558.21 million. The business's quarterly revenue was up 26.1% compared to the same quarter last year. On average, research analysts predict that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 2nd will be paid a $0.0073 dividend. This is a boost from HudBay Minerals's previous semi-annual dividend of $0.01. This represents a yield of 10.0%. The ex-dividend date is Tuesday, September 2nd. HudBay Minerals's dividend payout ratio (DPR) is presently 2.63%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HBM shares. BMO Capital Markets started coverage on HudBay Minerals in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Royal Bank Of Canada reiterated an "outperform" rating on shares of HudBay Minerals in a report on Thursday. Wall Street Zen raised shares of HudBay Minerals from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. National Bankshares reissued an "outperform" rating on shares of HudBay Minerals in a research note on Thursday. Finally, Scotiabank reaffirmed an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy".

HudBay Minerals Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.