Donald Smith & CO. Inc. Boosts Stock Position in HudBay Minerals Inc (NYSE:HBM)

Key Points

• Donald Smith & CO. Inc. has increased its stake in HudBay Minerals Inc by 31.3%, acquiring an additional 1,323,745 shares in the 1st quarter, bringing its total ownership to 5,549,372 shares valued at approximately $42.12 million.
• Several research firms have upgraded HudBay Minerals stock, with both Wall Street Zen and Veritas assigning it a "strong-buy" rating, while a majority of analysts currently hold a buy rating for the stock.
• In its latest quarterly earnings report, HudBay Minerals posted $0.24 earnings per share, significantly surpassing the consensus estimate of $0.10, and reported a 13.3% year-over-year increase in revenue.

Donald Smith & CO. Inc. increased its holdings in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 31.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,549,372 shares of the mining company's stock after acquiring an additional 1,323,745 shares during the period. Donald Smith & CO. Inc. owned approximately 1.40% of HudBay Minerals worth $42,120,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in HudBay Minerals by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 15,398,817 shares of the mining company's stock worth $116,738,000 after buying an additional 131,012 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in HudBay Minerals by 14.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,662,499 shares of the mining company's stock worth $118,874,000 after buying an additional 1,822,601 shares in the last quarter. Invesco Ltd. increased its stake in HudBay Minerals by 2.7% during the 4th quarter. Invesco Ltd. now owns 11,815,849 shares of the mining company's stock worth $95,708,000 after buying an additional 314,619 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in HudBay Minerals by 86.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company's stock worth $74,105,000 after buying an additional 4,253,400 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in HudBay Minerals by 20.8% during the 1st quarter. Mackenzie Financial Corp now owns 4,927,081 shares of the mining company's stock worth $37,353,000 after buying an additional 847,934 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company's stock.

HudBay Minerals Trading Up 3.1%

HBM traded up $0.30 during trading hours on Tuesday, reaching $9.85. The company's stock had a trading volume of 9,223,629 shares, compared to its average volume of 6,640,939. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $11.13. The stock has a market cap of $3.90 billion, a PE ratio of 25.92, a P/E/G ratio of 0.25 and a beta of 1.63. The business's 50-day moving average is $9.95 and its 200-day moving average is $8.57. 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.14. The company had revenue of $594.90 million for 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 firm's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 earnings per share. As a group, equities research analysts predict that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. BMO Capital Markets began coverage on HudBay Minerals in a research note on Wednesday, April 16th. They set an "outperform" rating for the company. Wall Street Zen upgraded HudBay Minerals from a "buy" rating to a "strong-buy" rating in a report on Saturday. Scotiabank restated an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, May 13th. CIBC restated an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Finally, Raymond James Financial upgraded HudBay Minerals to a "moderate buy" rating in a report on Monday, June 30th. Five equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".

HudBay Minerals Company 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.