Mackenzie Financial Corp Buys 847,934 Shares of HudBay Minerals Inc (NYSE:HBM)

Mackenzie Financial Corp lifted its stake in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 20.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,927,081 shares of the mining company's stock after acquiring an additional 847,934 shares during the quarter. Mackenzie Financial Corp owned about 1.25% of HudBay Minerals worth $37,353,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in HBM. Raymond James Financial Inc. purchased a new position in shares of HudBay Minerals during the fourth quarter valued at $183,000. HighTower Advisors LLC increased its holdings in shares of HudBay Minerals by 13.2% in the 4th quarter. HighTower Advisors LLC now owns 52,042 shares of the mining company's stock valued at $422,000 after purchasing an additional 6,072 shares during the period. Vanguard Group Inc. lifted its position in shares of HudBay Minerals by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 15,267,805 shares of the mining company's stock worth $123,852,000 after purchasing an additional 255,191 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of HudBay Minerals by 181.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,346,753 shares of the mining company's stock worth $10,909,000 after purchasing an additional 867,456 shares during the period. Finally, Norges Bank purchased a new position in HudBay Minerals during the fourth quarter valued at approximately $50,260,000. Institutional investors and hedge funds own 57.82% of the company's stock.

HudBay Minerals Trading Down 2.3%

Shares of NYSE HBM traded down $0.21 during midday trading on Friday, hitting $9.06. The stock had a trading volume of 5,905,076 shares, compared to its average volume of 7,298,890. 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 fifty-two week low of $5.95 and a fifty-two week high of $11.13. The firm has a market cap of $3.58 billion, a P/E ratio of 23.84, a price-to-earnings-growth ratio of 0.24 and a beta of 1.63. The company's 50-day simple moving average is $9.89 and its 200 day simple moving average is $8.53.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings results on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, beating 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 company had revenue of $594.90 million during the quarter, compared to analysts' expectations of $537.36 million. During the same period in the prior year, the business posted $0.22 EPS. HudBay Minerals's revenue was up 13.3% on a year-over-year basis. Research analysts anticipate that HudBay Minerals Inc will post 0.79 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HBM. Raymond James Financial upgraded HudBay Minerals to a "moderate buy" rating in a report on Monday, June 30th. Veritas upgraded shares of HudBay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. Desjardins started coverage on HudBay Minerals in a report on Friday, April 4th. They set a "buy" rating on the stock. Wall Street Zen downgraded HudBay Minerals from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Finally, CIBC reiterated an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy".

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.