Intact Investment Management Inc. Buys 97,342 Shares of HudBay Minerals Inc (NYSE:HBM)

Intact Investment Management Inc. lifted its holdings in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 55.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 272,342 shares of the mining company's stock after purchasing an additional 97,342 shares during the quarter. Intact Investment Management Inc. owned 0.07% of HudBay Minerals worth $2,065,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Lumbard & Kellner LLC raised its position in shares of HudBay Minerals by 31.4% during the first quarter. Lumbard & Kellner LLC now owns 537,757 shares of the mining company's stock worth $4,082,000 after purchasing an additional 128,618 shares during the period. Strong Tower Advisory Services raised its position in shares of HudBay Minerals by 40.3% during the first quarter. Strong Tower Advisory Services now owns 91,524 shares of the mining company's stock worth $695,000 after purchasing an additional 26,294 shares during the period. Pacifica Partners Inc. raised its position in shares of HudBay Minerals by 1,126.5% during the first quarter. Pacifica Partners Inc. now owns 24,296 shares of the mining company's stock worth $172,000 after purchasing an additional 22,315 shares during the period. Polar Asset Management Partners Inc. raised its position in shares of HudBay Minerals by 121.7% during the fourth quarter. Polar Asset Management Partners Inc. now owns 1,694,700 shares of the mining company's stock worth $13,550,000 after purchasing an additional 930,300 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in shares of HudBay Minerals by 83.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 224,070 shares of the mining company's stock worth $1,817,000 after purchasing an additional 102,179 shares during the period. Institutional investors and hedge funds own 57.82% of the company's stock.

HudBay Minerals Stock Down 1.4%

HBM stock opened at $9.59 on Friday. 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 $8.39 and a two-hundred day moving average price of $8.19. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 0.27 and a beta of 1.60. HudBay Minerals Inc has a twelve month low of $5.95 and a twelve month high of $10.07.

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

Analysts Set New Price Targets

HBM has been the topic of a number of research analyst reports. Stifel Canada raised HudBay Minerals to a "strong-buy" rating in a research report on Wednesday, March 19th. Wall Street Zen raised HudBay Minerals from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Scotiabank reissued an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, May 13th. BMO Capital Markets assumed coverage on HudBay Minerals in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Finally, Desjardins assumed coverage on HudBay Minerals in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, HudBay Minerals presently has a consensus rating of "Buy" and a consensus price target of $14.00.

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.

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