HudBay Minerals Inc (NYSE:HBM) Shares Sold by Regal Partners Ltd

Key Points

• Regal Partners Ltd reduced its stake in HudBay Minerals by 14.8%, holding approximately 1.98 million shares, which is 1.5% of its portfolio.
• HudBay Minerals announced a better-than-expected earnings report, with earnings per share of $0.24, significantly surpassing the forecasted $0.10, and revenue of $594.9 million, exceeding estimates of $537.36 million.
• Institutional investors now hold 57.82% of HudBay Minerals, with significant increases from firms like Dimensional Fund Advisors and Bank of America Corp DE in the last quarter.

Regal Partners Ltd lessened its stake in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 14.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,979,858 shares of the mining company's stock after selling 344,365 shares during the quarter. HudBay Minerals accounts for about 1.5% of Regal Partners Ltd's portfolio, making the stock its 17th largest holding. Regal Partners Ltd owned about 0.50% of HudBay Minerals worth $15,027,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of HBM. Dimensional Fund Advisors LP increased its stake in shares of HudBay Minerals by 86.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company's stock valued at $74,105,000 after purchasing an additional 4,253,400 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of HudBay Minerals in the 4th quarter valued at about $17,657,000. Carrhae Capital LLP purchased a new position in shares of HudBay Minerals in the 1st quarter valued at about $14,244,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of HudBay Minerals by 14.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,662,499 shares of the mining company's stock valued at $118,874,000 after purchasing an additional 1,822,601 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of HudBay Minerals by 269.3% in the 4th quarter. Bank of America Corp DE now owns 2,409,267 shares of the mining company's stock valued at $19,515,000 after purchasing an additional 1,756,930 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company's stock.

HudBay Minerals Price Performance

HBM stock opened at $9.85 on Wednesday. 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 business has a 50 day simple moving average of $9.95 and a 200-day simple moving average of $8.57. The firm has a market capitalization of $3.90 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 0.25 and a beta of 1.63. HudBay Minerals Inc has a 1 year low of $5.95 and a 1 year high of $11.13.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.14. The business had revenue of $594.90 million during the quarter, compared to analyst estimates of $537.36 million. HudBay Minerals had a return on equity of 8.17% and a net margin of 7.40%. The business's revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 earnings per share. Equities research analysts anticipate that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on HBM shares. Raymond James Financial upgraded HudBay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. CIBC reiterated an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, July 15th. Wall Street Zen upgraded HudBay Minerals from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Scotiabank reiterated an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, May 13th. Finally, Veritas upgraded HudBay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. Five 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 MarketBeat, the company has a consensus rating of "Buy".

About HudBay Minerals

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.

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