Orchard Capital Management LLC Has $4.36 Million Stock Position in HudBay Minerals Inc $HBM

Orchard Capital Management LLC reduced its stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 43.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 410,823 shares of the mining company’s stock after selling 310,104 shares during the quarter. HudBay Minerals comprises about 4.8% of Orchard Capital Management LLC’s investment portfolio, making the stock its 4th biggest position. Orchard Capital Management LLC’s holdings in HudBay Minerals were worth $4,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its holdings in shares of HudBay Minerals by 1.4% in the 1st quarter. Federated Hermes Inc. now owns 126,836 shares of the mining company’s stock worth $963,000 after purchasing an additional 1,794 shares during the period. Banque Cantonale Vaudoise bought a new stake in HudBay Minerals in the first quarter worth $33,000. Alberta Investment Management Corp lifted its position in HudBay Minerals by 173.3% in the first quarter. Alberta Investment Management Corp now owns 600,246 shares of the mining company’s stock worth $4,550,000 after buying an additional 380,646 shares during the last quarter. Bank of Nova Scotia boosted its stake in HudBay Minerals by 34.9% during the first quarter. Bank of Nova Scotia now owns 59,128 shares of the mining company’s stock worth $448,000 after buying an additional 15,295 shares during the period. Finally, Scotia Capital Inc. increased its position in HudBay Minerals by 116.3% during the first quarter. Scotia Capital Inc. now owns 197,867 shares of the mining company’s stock valued at $1,484,000 after acquiring an additional 106,395 shares during the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

HudBay Minerals Price Performance

Shares of HBM stock opened at $16.59 on Friday. The company has a market capitalization of $6.57 billion, a P/E ratio of 22.72 and a beta of 1.58. The company’s 50-day simple moving average is $15.74 and its two-hundred day simple moving average is $12.24. HudBay Minerals Inc has a one year low of $5.95 and a one year high of $17.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.86.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). HudBay Minerals had a net margin of 13.13% and a return on equity of 10.73%. The firm had revenue of $346.80 million during the quarter, compared to analysts’ expectations of $538.16 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s revenue for the quarter was down 28.6% on a year-over-year basis. As a group, equities analysts anticipate that HudBay Minerals Inc will post 0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HBM shares. Bank of America raised their target price 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. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, October 28th. Weiss Ratings restated a “buy (b-)” rating on shares of HudBay Minerals in a research report on Wednesday, October 8th. National Bankshares reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, August 14th. Finally, Raymond James Financial reissued an “outperform” rating on shares of HudBay Minerals in a research note on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus 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.