Vontobel Holding Ltd. Sells 389,386 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Vontobel Holding Ltd. lessened its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 37.1% during the 4th quarter, Holdings Channel reports. The firm owned 661,214 shares of the mining company’s stock after selling 389,386 shares during the period. Vontobel Holding Ltd.’s holdings in Hudbay Minerals were worth $3,638,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in Hudbay Minerals by 2,894.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,330 shares of the mining company’s stock valued at $26,000 after purchasing an additional 5,152 shares during the period. U S Global Investors Inc. bought a new stake in Hudbay Minerals in the 3rd quarter worth approximately $29,000. US Bancorp DE increased its stake in Hudbay Minerals by 122.4% in the 1st quarter. US Bancorp DE now owns 7,899 shares of the mining company’s stock worth $62,000 after acquiring an additional 4,347 shares during the last quarter. Osaic Holdings Inc. increased its stake in Hudbay Minerals by 290.9% in the 2nd quarter. Osaic Holdings Inc. now owns 8,185 shares of the mining company’s stock worth $39,000 after acquiring an additional 6,091 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Hudbay Minerals by 29.7% in the 2nd quarter. Wells Fargo & Company MN now owns 10,043 shares of the mining company’s stock worth $48,000 after acquiring an additional 2,300 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HBM. Bank of America raised Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a research note on Tuesday, April 9th. Stifel Nicolaus initiated coverage on Hudbay Minerals in a research note on Tuesday, March 26th. They issued a “buy” rating on the stock. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. Finally, Raymond James boosted their target price on Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, Hudbay Minerals has an average rating of “Buy” and an average target price of $9.75.

Hudbay Minerals Price Performance

HBM opened at $7.60 on Thursday. The business has a fifty day moving average of $6.48 and a 200 day moving average of $5.47. Hudbay Minerals Inc. has a 52-week low of $3.94 and a 52-week high of $8.11. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The stock has a market cap of $2.67 billion, a P/E ratio of 38.00, a PEG ratio of 0.75 and a beta of 1.95.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The company had revenue of $602.20 million during the quarter, compared to analysts’ expectations of $552.74 million. During the same quarter in the previous year, the business earned $0.01 EPS. Hudbay Minerals’s revenue was up 87.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hudbay Minerals Inc. will post 0.44 EPS for the current year.

Hudbay Minerals Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 5th were issued a $0.0074 dividend. This represents a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, March 4th. Hudbay Minerals’s dividend payout ratio is 5.00%.

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.