Artemis Investment Management LLP Raises Stake in HudBay Minerals Inc (NYSE:HBM)

Artemis Investment Management LLP grew its position in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 4.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,701,243 shares of the mining company's stock after purchasing an additional 126,534 shares during the quarter. Artemis Investment Management LLP owned approximately 0.68% of HudBay Minerals worth $20,483,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of HudBay Minerals in the 4th quarter worth $50,260,000. Dimensional Fund Advisors LP boosted its holdings in HudBay Minerals by 86.9% in 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 purchasing an additional 4,253,400 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in HudBay Minerals during the 4th quarter worth approximately $17,657,000. American Century Companies Inc. increased its position in HudBay Minerals by 102.4% during the 4th quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company's stock worth $34,684,000 after purchasing an additional 2,163,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of HudBay Minerals by 111.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,777,571 shares of the mining company's stock worth $30,602,000 after buying an additional 1,994,431 shares in the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

HudBay Minerals Stock Up 9.1%

HBM stock opened at $10.69 on Friday. The stock has a market cap of $4.22 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 0.28 and a beta of 1.60. The firm's 50-day simple moving average is $8.63 and its 200 day simple moving average is $8.22. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $10.77. 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 issued its quarterly earnings data on Monday, May 12th. The mining company reported $0.24 earnings per share (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 analyst estimates of $537.36 million. HudBay Minerals had a return on equity of 8.17% and a net margin of 7.40%. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 EPS. As a group, sell-side analysts predict that HudBay Minerals Inc will post 0.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HBM. Scotiabank reaffirmed an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, May 13th. Stifel Canada raised HudBay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. BMO Capital Markets started coverage on shares of HudBay Minerals in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. Desjardins began coverage on shares of HudBay Minerals in a research report on Friday, April 4th. They set a "buy" rating for the company. Finally, Wall Street Zen raised shares of HudBay Minerals from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $14.00.

About HudBay Minerals

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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