TD Waterhouse Canada Inc. Decreases Holdings in HudBay Minerals Inc $HBM

TD Waterhouse Canada Inc. trimmed its position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 4.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 478,434 shares of the mining company’s stock after selling 22,548 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in HudBay Minerals were worth $9,398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of HBM. Strong Tower Advisory Services lifted its holdings in shares of HudBay Minerals by 0.6% during the 4th quarter. Strong Tower Advisory Services now owns 94,762 shares of the mining company’s stock valued at $1,881,000 after purchasing an additional 587 shares during the last quarter. Addenda Capital Inc. purchased a new stake in HudBay Minerals in the fourth quarter valued at about $278,000. Whalen Wealth Management Inc. purchased a new stake in HudBay Minerals in the fourth quarter valued at about $300,000. Louisbourg Investments Inc. acquired a new stake in HudBay Minerals in the fourth quarter worth about $5,247,000. Finally, Shrier Wealth Management LLC purchased a new stake in shares of HudBay Minerals during the fourth quarter worth about $410,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on HBM shares. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, January 15th. UBS Group initiated coverage on shares of HudBay Minerals in a report on Thursday, January 8th. They issued a “buy” rating for the company. Citigroup lifted their price objective on shares of HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, HudBay Minerals currently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

HudBay Minerals Price Performance

NYSE:HBM opened at $25.64 on Tuesday. The stock has a 50 day moving average of $23.31 and a two-hundred day moving average of $20.52. HudBay Minerals Inc has a 12 month low of $6.75 and a 12 month high of $28.74. The firm has a market cap of $10.19 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 0.35 and a beta of 1.41. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 0.18.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $730.13 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The business’s revenue was up 25.3% on a year-over-year basis. On average, analysts expect that HudBay Minerals Inc will post 1.62 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, March 27th. Stockholders of record on Tuesday, March 10th were given a $0.01 dividend. This represents a dividend yield of 9.0%. The ex-dividend date was Tuesday, March 10th. HudBay Minerals’s dividend payout ratio is 0.70%.

HudBay Minerals Company Profile

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.