Carrhae Capital LLP Takes $14.24 Million Position in HudBay Minerals Inc (NYSE:HBM)

Carrhae Capital LLP purchased a new position in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,876,665 shares of the mining company's stock, valued at approximately $14,244,000. HudBay Minerals comprises 1.0% of Carrhae Capital LLP's portfolio, making the stock its 19th biggest position. Carrhae Capital LLP owned about 0.48% of HudBay Minerals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HBM. Tower Research Capital LLC TRC raised its stake in HudBay Minerals by 9,877.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock worth $25,000 after purchasing an additional 3,062 shares during the period. SBI Securities Co. Ltd. raised its stake in HudBay Minerals by 64.6% during the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock worth $29,000 after purchasing an additional 1,481 shares during the period. Algert Global LLC purchased a new position in HudBay Minerals during the fourth quarter worth about $86,000. Hsbc Holdings PLC purchased a new position in HudBay Minerals during the fourth quarter worth about $97,000. Finally, Advisory Services Network LLC purchased a new position in HudBay Minerals during the fourth quarter worth about $101,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HBM has been the topic of a number of analyst reports. Raymond James Financial raised shares of HudBay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. Wall Street Zen raised shares of HudBay Minerals from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Desjardins initiated coverage on shares of HudBay Minerals in a research note on Friday, April 4th. They issued a "buy" rating on the stock. BMO Capital Markets initiated coverage on shares of HudBay Minerals in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. Finally, CIBC reissued an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday. Five investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy".

HudBay Minerals Stock Down 0.3%

Shares of HBM stock traded down $0.03 during trading on Friday, reaching $9.77. The company's stock had a trading volume of 6,575,812 shares, compared to its average volume of 5,644,766. HudBay Minerals Inc has a 1-year low of $5.95 and a 1-year high of $11.13. The stock's 50-day moving average price is $9.59 and its 200 day moving average price is $8.44. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 0.28 and a beta of 1.63. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.32 and a quick ratio of 1.92.

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