Impala Asset Management LLC Takes $762,000 Position in HudBay Minerals Inc $HBM

Impala Asset Management LLC purchased a new position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 71,800 shares of the mining company’s stock, valued at approximately $762,000. HudBay Minerals comprises 0.4% of Impala Asset Management LLC’s portfolio, making the stock its 23rd biggest holding.

A number of other institutional investors have also recently bought and sold shares of HBM. JPMorgan Chase & Co. grew its position in shares of HudBay Minerals by 180.7% in the second quarter. JPMorgan Chase & Co. now owns 4,201,190 shares of the mining company’s stock valued at $44,575,000 after purchasing an additional 2,704,569 shares during the last quarter. Franklin Resources Inc. boosted its stake in HudBay Minerals by 7.9% during the 2nd quarter. Franklin Resources Inc. now owns 833,163 shares of the mining company’s stock valued at $8,844,000 after purchasing an additional 60,942 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in HudBay Minerals by 12.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,650,409 shares of the mining company’s stock valued at $28,142,000 after buying an additional 285,500 shares during the last quarter. Boston Partners increased its position in HudBay Minerals by 12.4% in the 2nd quarter. Boston Partners now owns 2,091,948 shares of the mining company’s stock worth $22,196,000 after buying an additional 230,136 shares during the period. Finally, Picton Mahoney Asset Management acquired a new position in shares of HudBay Minerals during the second quarter worth approximately $61,432,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

HudBay Minerals Stock Performance

Shares of NYSE:HBM opened at $18.66 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.76. The business’s fifty day moving average price is $16.38 and its two-hundred day moving average price is $12.96. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $19.07. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 16.08 and a beta of 1.39.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Wednesday, November 12th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. The company had revenue of $346.80 million for the quarter, compared to the consensus estimate of $538.16 million. During the same period in the previous year, the business posted $0.13 earnings per share. The firm’s revenue was down 28.6% compared to the same quarter last year. As a group, analysts predict that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

Analysts Set New Price Targets

HBM has been the topic of several research analyst reports. Bank of America raised their price target on shares of HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a research report on Thursday, October 16th. The Goldman Sachs Group began coverage on HudBay Minerals in a research note on Monday, September 8th. They set a “buy” rating on the stock. Wall Street Zen cut HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of HudBay Minerals in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a research note on Monday, November 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has 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 $19.50.

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.