Triasima Portfolio Management inc. Takes Position in HudBay Minerals Inc $HBM

Triasima Portfolio Management inc. bought a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 531,833 shares of the mining company’s stock, valued at approximately $8,057,000. HudBay Minerals comprises about 1.2% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 23rd biggest holding.

Several other large investors have also recently added to or reduced their stakes in HBM. Campbell & CO Investment Adviser LLC purchased a new stake in HudBay Minerals in the 3rd quarter valued at about $1,454,000. Robeco Schweiz AG lifted its holdings in shares of HudBay Minerals by 7.4% during the 3rd quarter. Robeco Schweiz AG now owns 1,155,000 shares of the mining company’s stock worth $17,510,000 after acquiring an additional 80,000 shares during the period. Kiker Wealth Management LLC acquired a new stake in shares of HudBay Minerals in the third quarter worth approximately $271,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in HudBay Minerals by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 101,493 shares of the mining company’s stock valued at $1,539,000 after purchasing an additional 4,220 shares during the period. Finally, Oliver Luxxe Assets LLC grew its holdings in HudBay Minerals by 65.2% in the third quarter. Oliver Luxxe Assets LLC now owns 222,720 shares of the mining company’s stock valued at $3,376,000 after purchasing an additional 87,930 shares during the period. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

HudBay Minerals Trading Up 1.6%

NYSE:HBM opened at $22.87 on Tuesday. The business’s 50-day moving average is $18.68 and its two-hundred day moving average is $14.96. The firm has a market capitalization of $9.08 billion, a PE ratio of 19.81 and a beta of 1.36. HudBay Minerals Inc has a 12 month low of $5.95 and a 12 month high of $23.34. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.76.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its 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). The company had revenue of $346.80 million during the quarter, compared to analyst estimates of $538.16 million. HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. HudBay Minerals’s quarterly revenue was down 28.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. Research analysts predict that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. UBS Group began coverage on shares of HudBay Minerals in a report on Thursday, January 8th. They issued a “buy” rating on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Citigroup set a $34.50 price target on HudBay Minerals and gave the company a “buy” rating in a research report on Thursday, January 8th. CIBC restated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Monday, November 17th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $27.00.

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.