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Allianz Asset Management GmbH Purchases 952,776 Shares of HudBay Minerals Inc (NYSE:HBM)

HudBay Minerals logo with Basic Materials background

Allianz Asset Management GmbH grew its stake in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 61.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,492,905 shares of the mining company's stock after purchasing an additional 952,776 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.63% of HudBay Minerals worth $18,897,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Easterly Investment Partners LLC purchased a new stake in shares of HudBay Minerals during the first quarter valued at $1,567,000. Carrhae Capital LLP purchased a new stake in shares of HudBay Minerals during the first quarter valued at $14,244,000. SBI Securities Co. Ltd. boosted its stake in shares of HudBay Minerals by 64.6% during the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock valued at $29,000 after purchasing an additional 1,481 shares during the period. Ballentine Partners LLC boosted its stake in shares of HudBay Minerals by 29.6% during the first quarter. Ballentine Partners LLC now owns 26,989 shares of the mining company's stock valued at $205,000 after purchasing an additional 6,169 shares during the period. Finally, Alps Advisors Inc. boosted its stake in shares of HudBay Minerals by 6.2% during the first quarter. Alps Advisors Inc. now owns 176,316 shares of the mining company's stock valued at $1,338,000 after purchasing an additional 10,346 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HBM. Desjardins initiated coverage on shares of HudBay Minerals in a research note on Friday, April 4th. They set a "buy" rating for the company. Raymond James Financial upgraded HudBay Minerals to a "moderate buy" rating in a report on Monday, June 30th. Veritas upgraded HudBay Minerals to a "strong-buy" rating in a report on Monday, July 7th. CIBC restated an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Finally, BMO Capital Markets initiated coverage on HudBay Minerals in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, HudBay Minerals presently has a consensus rating of "Buy".

Read Our Latest Report on HBM

HudBay Minerals Stock Down 2.4%

Shares of HBM stock traded down $0.23 on Monday, hitting $9.64. The stock had a trading volume of 2,801,684 shares, compared to its average volume of 7,339,353. The company has a market cap of $3.81 billion, a PE ratio of 25.35, a P/E/G ratio of 0.26 and a beta of 1.63. The company has a quick ratio of 1.92, a current ratio of 2.32 and a debt-to-equity ratio of 0.42. The business has a 50 day moving average price of $9.80 and a 200 day moving average price of $8.50. HudBay Minerals Inc has a one year low of $5.95 and a one year high of $11.13.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its earnings results on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.14. The business had revenue of $594.90 million during the quarter, compared to the consensus estimate 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 was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. Research analysts anticipate that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for HudBay Minerals (NYSE:HBM)

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