Regal Partners Ltd Sells 645,434 Shares of HudBay Minerals Inc $HBM

Key Points

• Regal Partners Ltd cut its stake in HudBay Minerals (HBM) by 50.1% in Q3, selling 645,434 shares and now holds 641,992 shares (about 0.16% of HBM, valued at $9.73M), making it Regal's 23rd largest holding.
• Analysts maintain an overall Buy consensus on HudBay with an average target of $26.00; notable changes include Citigroup raising its target to $32.50 (buy) while Zacks and Wall Street Zen downgraded to Hold and Weiss upgraded to Buy.
• HudBay missed Q results with EPS of $0.22 vs. $0.40 expected despite revenue rising 25.3% to $732.9M, and announced a $0.01 dividend (8.0% yield) payable March 27 with an ex-dividend date of March 10.

Regal Partners Ltd lessened its holdings in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 50.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 641,992 shares of the mining company's stock after selling 645,434 shares during the quarter. HudBay Minerals accounts for approximately 0.7% of Regal Partners Ltd's holdings, making the stock its 23rd largest holding. Regal Partners Ltd owned 0.16% of HudBay Minerals worth $9,733,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. CreativeOne Wealth LLC bought a new stake in HudBay Minerals during the 3rd quarter worth about $247,000. Orchard Capital Management LLC boosted its position in HudBay Minerals by 6.5% during the third quarter. Orchard Capital Management LLC now owns 437,527 shares of the mining company's stock worth $6,633,000 after purchasing an additional 26,704 shares during the period. Dimensional Fund Advisors LP grew its stake in HudBay Minerals by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 11,334,474 shares of the mining company's stock valued at $171,832,000 after buying an additional 348,278 shares during the last quarter. Picton Mahoney Asset Management grew its position in shares of HudBay Minerals by 9.3% in the third quarter. Picton Mahoney Asset Management now owns 6,350,482 shares of the mining company's stock valued at $96,171,000 after purchasing an additional 537,964 shares during the last quarter. Finally, 111 Capital acquired a new position in HudBay Minerals in the 3rd quarter valued at $405,000. Institutional investors own 57.82% of the company's stock.

Analyst Ratings Changes

HBM has been the topic of a number of analyst reports. Citigroup increased their target price on shares of HudBay Minerals from $23.00 to $32.50 and gave the stock a "buy" rating in a research report on Wednesday, February 11th. Zacks Research cut HudBay Minerals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of HudBay Minerals in a report on Thursday, January 15th. Wall Street Zen lowered shares of HudBay Minerals from a "buy" rating to a "hold" rating in a report on Sunday, March 1st. Finally, Weiss Ratings raised HudBay Minerals from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, February 10th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, HudBay Minerals presently has an average rating of "Buy" and an average target price of $26.00.

HudBay Minerals Trading Down 3.5%

NYSE HBM opened at $22.24 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $24.15 and a 200 day simple moving average of $18.58. HudBay Minerals Inc has a 12 month low of $5.95 and a 12 month high of $28.74. The firm has a market capitalization of $8.83 billion, a P/E ratio of 15.55, a PEG ratio of 0.30 and a beta of 1.27.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its quarterly earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.18). HudBay Minerals had a return on equity of 8.91% and a net margin of 25.71%.The firm had revenue of $732.90 million for the quarter, compared to analysts' expectations of $730.13 million. During the same quarter last year, the firm posted $0.18 earnings per share. The firm's revenue for the quarter was up 25.3% compared to the same quarter last year. On average, analysts predict that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

HudBay Minerals Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, March 27th. Shareholders of record on Tuesday, March 10th will be paid a $0.01 dividend. This represents a yield of 8.0%. The ex-dividend date is Tuesday, March 10th. HudBay Minerals's dividend payout ratio is 0.70%.

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.

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