Sumitomo Mitsui Trust Group Inc. Raises Position in HudBay Minerals Inc (NYSE:HBM)

Sumitomo Mitsui Trust Group Inc. lifted its position 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 Form 13F filing with the Securities & Exchange Commission. The firm owned 100,303 shares of the mining company's stock after acquiring an additional 58,999 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in HudBay Minerals were worth $761,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted 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 purchasing an additional 3,062 shares in the last quarter. Algert Global LLC acquired a new position in HudBay Minerals during the fourth quarter worth $86,000. Hsbc Holdings PLC purchased a new position in HudBay Minerals in the fourth quarter worth $97,000. Advisory Services Network LLC purchased a new position in HudBay Minerals in the fourth quarter worth $101,000. Finally, Smith Moore & CO. lifted its holdings in HudBay Minerals by 28.4% in the fourth quarter. Smith Moore & CO. now owns 13,716 shares of the mining company's stock valued at $111,000 after acquiring an additional 3,032 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

HudBay Minerals Stock Down 1.9%

Shares of NYSE HBM opened at $10.75 on Friday. The firm's 50-day moving average is $9.05 and its two-hundred day moving average is $8.30. The company has a market capitalization of $4.25 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 0.30 and a beta of 1.63. HudBay Minerals Inc has a 12-month low of $5.95 and a 12-month high of $11.13. 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 (NYSE:HBM - Get Free Report) TSE: HBM last issued its quarterly earnings data 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 firm had revenue of $594.90 million during the quarter, compared to the consensus estimate of $537.36 million. HudBay Minerals had a return on equity of 8.17% and a net margin of 7.40%. The company's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. Equities analysts anticipate that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HBM shares. Stifel Canada upgraded shares of HudBay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. Scotiabank reaffirmed an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, May 13th. Desjardins assumed coverage on HudBay Minerals in a research note on Friday, April 4th. They set a "buy" rating on the stock. Wall Street Zen upgraded HudBay Minerals from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Finally, BMO Capital Markets began coverage on HudBay Minerals in a report on Wednesday, April 16th. They set an "outperform" rating for the company. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, HudBay Minerals has an average rating of "Buy" and a consensus target price 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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