Mackenzie Financial Corp Increases Stake in HudBay Minerals Inc (NYSE:HBM)

Mackenzie Financial Corp increased its holdings in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 20.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,927,081 shares of the mining company’s stock after purchasing an additional 847,934 shares during the period. Mackenzie Financial Corp’s holdings in HudBay Minerals were worth $37,353,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of HudBay Minerals by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 15,267,805 shares of the mining company’s stock valued at $123,852,000 after purchasing an additional 255,191 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in HudBay Minerals by 14.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,662,499 shares of the mining company’s stock valued at $118,874,000 after buying an additional 1,822,601 shares during the period. Invesco Ltd. boosted its position in HudBay Minerals by 2.7% during the 4th quarter. Invesco Ltd. now owns 11,815,849 shares of the mining company’s stock valued at $95,708,000 after buying an additional 314,619 shares during the period. Dimensional Fund Advisors LP boosted its position in HudBay Minerals by 86.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company’s stock valued at $74,105,000 after buying an additional 4,253,400 shares during the period. Finally, Bank of Montreal Can boosted its position in HudBay Minerals by 4.9% during the 4th quarter. Bank of Montreal Can now owns 8,065,777 shares of the mining company’s stock valued at $65,342,000 after buying an additional 374,258 shares during the period. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Trading Up 0.2%

NYSE:HBM opened at $9.86 on Wednesday. The company has a 50-day moving average price of $9.86 and a 200-day moving average price of $8.52. HudBay Minerals Inc has a 12 month low of $5.95 and a 12 month high of $11.13. The company has a current ratio of 2.32, a quick ratio of 1.92 and a debt-to-equity ratio of 0.42. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 25.94, a P/E/G ratio of 0.25 and a beta of 1.63.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.10 by $0.14. HudBay Minerals had a net margin of 7.40% and a return on equity of 8.17%. The firm had revenue of $594.90 million during the quarter, compared to analysts’ expectations of $537.36 million. During the same period last year, the company posted $0.22 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. Equities analysts predict that HudBay Minerals Inc will post 0.79 EPS for the current year.

Wall Street Analyst Weigh In

HBM has been the subject of several analyst reports. Raymond James Financial raised shares of HudBay Minerals to a “moderate buy” rating in a research report on Monday, June 30th. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, May 13th. Veritas raised shares of HudBay Minerals to a “strong-buy” rating in a research report on Monday, July 7th. BMO Capital Markets initiated coverage on shares of HudBay Minerals in a research report on Wednesday, April 16th. They set an “outperform” rating for the company. Finally, CIBC reissued an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, HudBay Minerals has a consensus rating of “Buy”.

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.