Scotia Capital Inc. raised its position in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 116.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 197,867 shares of the mining company's stock after purchasing an additional 106,395 shares during the quarter. Scotia Capital Inc. owned about 0.05% of HudBay Minerals worth $1,484,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in shares of 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 purchasing an additional 3,062 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in HudBay Minerals by 64.6% during 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 during the period. Banque Cantonale Vaudoise purchased a new position in HudBay Minerals during the first quarter valued at approximately $33,000. Algert Global LLC purchased a new stake in shares of HudBay Minerals during the fourth quarter worth $86,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of HudBay Minerals during the 4th quarter valued at about $97,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Veritas upgraded HudBay Minerals to a "strong-buy" rating in a report on Monday, July 7th. CIBC reaffirmed an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, July 15th. Raymond James Financial raised shares of HudBay Minerals to a "moderate buy" rating in a research report on Monday, June 30th. Scotiabank reaffirmed an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, May 13th. Finally, Wall Street Zen lowered HudBay Minerals from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy".
Get Our Latest Research Report on HudBay Minerals
HudBay Minerals Stock Performance
NYSE:HBM traded up $0.19 during midday trading on Thursday, reaching $9.38. The stock had a trading volume of 4,862,401 shares, compared to its average volume of 6,706,275. The stock has a market capitalization of $3.71 billion, a P/E ratio of 24.67, a PEG ratio of 0.24 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 Inc has a 1-year low of $5.95 and a 1-year high of $11.13. The firm's fifty day simple moving average is $9.92 and its 200-day simple moving average is $8.55.
HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings data on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.14. HudBay Minerals had a return on equity of 8.17% and a net margin of 7.40%. The business had revenue of $594.90 million for the quarter, compared to analyst estimates of $537.36 million. During the same period in the previous year, the company posted $0.22 earnings per share. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities research analysts forecast that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.
HudBay Minerals Profile
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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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