56,377 Shares in HudBay Minerals Inc $HBM Bought by Precision Wealth Strategies LLC

Precision Wealth Strategies LLC acquired a new position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 56,377 shares of the mining company’s stock, valued at approximately $855,000.

Several other large investors also recently modified their holdings of HBM. Jones Financial Companies Lllp increased its holdings in HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after purchasing an additional 3,733 shares during the last quarter. Plato Investment Management Ltd purchased a new position in shares of HudBay Minerals during the 2nd quarter valued at approximately $84,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of HudBay Minerals during the second quarter worth approximately $116,000. Savvy Advisors Inc. bought a new stake in shares of HudBay Minerals in the second quarter worth $141,000. Finally, Clear Harbor Asset Management LLC raised its holdings in HudBay Minerals by 66.0% in the second quarter. Clear Harbor Asset Management LLC now owns 16,600 shares of the mining company’s stock valued at $176,000 after acquiring an additional 6,600 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HBM. Bank of America raised their price objective on shares of HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a report on Thursday, October 16th. Citigroup began coverage on HudBay Minerals in a report on Monday, December 15th. They issued a “buy” rating and a $23.00 price objective for the company. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Friday, October 10th. Zacks Research lowered HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Finally, Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $21.25.

HudBay Minerals Stock Performance

Shares of HBM stock opened at $19.82 on Friday. The company has a market cap of $7.86 billion, a P/E ratio of 17.09 and a beta of 1.39. The business has a 50 day moving average of $16.83 and a two-hundred day moving average of $13.57. HudBay Minerals Inc has a 52 week low of $5.95 and a 52 week high of $20.16. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.18.

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

HudBay Minerals 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.