CIBC Asset Management Inc lifted its holdings in shares of Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) by 499.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 858,510 shares of the mining company’s stock after purchasing an additional 715,177 shares during the quarter. CIBC Asset Management Inc’s holdings in Hudbay Minerals were worth $6,135,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Heathbridge Capital Management Ltd. raised its position in Hudbay Minerals by 6.2% in the 4th quarter. Heathbridge Capital Management Ltd. now owns 4,842,500 shares of the mining company’s stock valued at $22,930,000 after buying an additional 282,600 shares during the last quarter. ETF Managers Group LLC raised its position in Hudbay Minerals by 18.5% in the 4th quarter. ETF Managers Group LLC now owns 391,872 shares of the mining company’s stock valued at $1,854,000 after buying an additional 61,050 shares during the last quarter. Neuberger Berman Group LLC raised its position in Hudbay Minerals by 140.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 33,356 shares of the mining company’s stock valued at $169,000 after buying an additional 19,477 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Hudbay Minerals in the 4th quarter valued at approximately $2,173,000. Finally, Letko Brosseau & Associates Inc. raised its position in Hudbay Minerals by 13.9% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 36,116,358 shares of the mining company’s stock valued at $170,824,000 after buying an additional 4,404,357 shares during the last quarter. 67.69% of the stock is currently owned by institutional investors.
A number of equities research analysts recently issued reports on HBM shares. Raymond James lowered Hudbay Minerals from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 21st. BMO Capital Markets reissued a “buy” rating on shares of Hudbay Minerals in a research report on Tuesday, March 5th. Credit Suisse Group raised Hudbay Minerals from a “neutral” rating to an “outperform” rating in a research report on Monday, March 11th. Zacks Investment Research lowered Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, February 2nd. Finally, Royal Bank of Canada reissued an “average” rating on shares of Hudbay Minerals in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Hudbay Minerals presently has a consensus rating of “Hold” and a consensus target price of $8.05.
NYSE:HBM opened at $5.05 on Thursday. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 4.49 and a beta of 2.82. Hudbay Minerals Inc has a twelve month low of $3.44 and a twelve month high of $7.83. The company has a current ratio of 2.64, a quick ratio of 2.14 and a debt-to-equity ratio of 0.48.
Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Monday, May 6th. The mining company reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The firm had revenue of $292.30 million for the quarter, compared to analyst estimates of $314.70 million. Hudbay Minerals had a return on equity of 3.07% and a net margin of 2.22%. The business’s quarterly revenue was down 24.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 EPS. Research analysts forecast that Hudbay Minerals Inc will post 0.21 EPS for the current fiscal year.
Hudbay Minerals Company Profile
Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.
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