Alberta Investment Management Corp Has $4.55 Million Position in HudBay Minerals Inc (NYSE:HBM)

Key Points

• Alberta Investment Management Corp increased its stock position in HudBay Minerals by 173.3% during the first quarter, now holding over 600,000 shares valued at approximately $4.55 million.
• Multiple institutional investors, including Pictet Asset Management and SBI Securities, have also adjusted their positions, indicating significant interest in HudBay Minerals.
• HudBay Minerals recently reported a quarterly revenue increase of 13.3%, exceeding analysts' expectations, with an earnings per share of $0.24, surpassing the consensus estimate.

Alberta Investment Management Corp boosted its stake in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 173.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 600,246 shares of the mining company's stock after purchasing an additional 380,646 shares during the period. Alberta Investment Management Corp owned about 0.15% of HudBay Minerals worth $4,550,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings in HudBay Minerals by 9,877.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock valued at $25,000 after buying an additional 3,062 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of HudBay Minerals by 64.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock worth $29,000 after acquiring an additional 1,481 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of HudBay Minerals in the 1st quarter worth $33,000. Algert Global LLC acquired a new position in HudBay Minerals during the 4th quarter valued at about $86,000. Finally, Hsbc Holdings PLC acquired a new position in HudBay Minerals during the 4th quarter valued at about $97,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Raymond James Financial upgraded HudBay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. Veritas raised HudBay Minerals to a "strong-buy" rating in a report on Monday, July 7th. BMO Capital Markets assumed coverage on HudBay Minerals in a research note on Wednesday, April 16th. They set an "outperform" rating for the company. Scotiabank reissued an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, May 13th. Finally, Wall Street Zen downgraded HudBay Minerals from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, HudBay Minerals presently has a consensus rating of "Buy".

HudBay Minerals Stock Down 0.5%

Shares of HudBay Minerals stock traded down $0.05 on Tuesday, hitting $9.21. 5,914,087 shares of the company traded hands, compared to its average volume of 7,251,927. The company has a market cap of $3.64 billion, a PE ratio of 24.22, a PEG ratio of 0.24 and a beta of 1.63. HudBay Minerals Inc has a 12-month low of $5.95 and a 12-month high of $11.13. The company has a 50-day moving average price of $9.90 and a 200 day moving average price of $8.53. The company has a quick ratio of 1.92, a current ratio of 2.32 and a debt-to-equity ratio of 0.42.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings data on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.14. The business had revenue of $594.90 million during the quarter, compared to analyst estimates of $537.36 million. HudBay Minerals had a net margin of 7.40% and a return on equity of 8.17%. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. Sell-side analysts predict that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

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.