HudBay Minerals Inc (NYSE:HBM) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 142.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,303 shares of the mining company's stock after buying an additional 58,999 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in HudBay Minerals were worth $761,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Pictet Asset Management Holding SA grew its stake in HudBay Minerals by 2.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company's stock worth $538,000 after buying an additional 1,278 shares during the last quarter. Alliancebernstein L.P. grew its stake in HudBay Minerals by 3.9% during the 4th quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company's stock worth $589,000 after buying an additional 2,740 shares during the last quarter. Smith Moore & CO. grew its stake in HudBay Minerals by 28.4% during the 4th quarter. Smith Moore & CO. now owns 13,716 shares of the mining company's stock worth $111,000 after buying an additional 3,032 shares during the last quarter. Tower Research Capital LLC TRC grew its position in 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 worth $25,000 after purchasing an additional 3,062 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in HudBay Minerals by 24.3% during the 4th quarter. Cetera Investment Advisers now owns 19,224 shares of the mining company's stock worth $156,000 after purchasing an additional 3,760 shares during the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

HudBay Minerals Price Performance

HBM stock traded down $0.26 during trading on Wednesday, reaching $10.63. 6,863,058 shares of the company were exchanged, compared to its average volume of 5,557,456. The company has a market cap of $4.20 billion, a P/E ratio of 27.97, a PEG ratio of 0.31 and a beta of 1.63. HudBay Minerals Inc has a 52-week low of $5.95 and a 52-week high of $11.13. The stock's 50 day moving average price is $9.25 and its 200 day moving average price is $8.35. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.92 and a current ratio of 2.32.

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, topping analysts' consensus estimates of $0.10 by $0.14. The company had revenue of $594.90 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 earnings per share. As a group, analysts predict that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Veritas raised shares of HudBay Minerals to a "strong-buy" rating in a research report on Monday. Stifel Canada raised shares of HudBay Minerals to a "strong-buy" rating in a research report on Wednesday, March 19th. Wall Street Zen raised shares of HudBay Minerals from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Desjardins assumed coverage on shares of HudBay Minerals in a research report on Friday, April 4th. They set a "buy" rating on the stock. Finally, Scotiabank reissued an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, May 13th. Four investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has an average 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.