Lumbard & Kellner LLC Has $4.08 Million Stock Position in HudBay Minerals Inc (NYSE:HBM)

Lumbard & Kellner LLC increased its stake in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 31.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 537,757 shares of the mining company's stock after acquiring an additional 128,618 shares during the quarter. HudBay Minerals comprises approximately 1.8% of Lumbard & Kellner LLC's holdings, making the stock its 20th largest holding. Lumbard & Kellner LLC owned 0.14% of HudBay Minerals worth $4,082,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Pictet Asset Management Holding SA increased its holdings in HudBay Minerals by 2.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company's stock valued at $538,000 after buying an additional 1,278 shares during the period. Sprott Inc. increased its holdings in HudBay Minerals by 3.5% in the 4th quarter. Sprott Inc. now owns 63,662 shares of the mining company's stock valued at $516,000 after buying an additional 2,162 shares during the period. Alliancebernstein L.P. increased its holdings in HudBay Minerals by 3.9% in the 4th quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company's stock valued at $589,000 after buying an additional 2,740 shares during the period. Smith Moore & CO. increased its holdings in HudBay Minerals by 28.4% in the 4th quarter. Smith Moore & CO. now owns 13,716 shares of the mining company's stock valued at $111,000 after buying an additional 3,032 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in HudBay Minerals by 9,877.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock valued at $25,000 after buying an additional 3,062 shares during the period. Institutional investors own 57.82% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. BMO Capital Markets assumed coverage on shares of HudBay Minerals in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Scotiabank restated an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, May 13th. Wall Street Zen upgraded shares of HudBay Minerals from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Stifel Canada upgraded shares of HudBay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, Desjardins initiated coverage on shares of HudBay Minerals in a research note on Friday, April 4th. They issued a "buy" rating on the stock. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $14.00.

HudBay Minerals Price Performance

Shares of NYSE:HBM traded down $0.14 on Friday, hitting $9.59. The stock had a trading volume of 7,284,868 shares, compared to its average volume of 5,278,818. HudBay Minerals Inc has a twelve month low of $5.95 and a twelve month high of $10.07. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.92 and a current ratio of 2.32. The firm's 50 day moving average price is $8.39 and its 200-day moving average price is $8.20. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 0.28 and a beta of 1.60.

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