TD Asset Management Inc Reduces Position in HudBay Minerals Inc (NYSE:HBM)

TD Asset Management Inc decreased its holdings in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 52.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,454,546 shares of the mining company's stock after selling 1,603,853 shares during the period. TD Asset Management Inc owned 0.37% of HudBay Minerals worth $11,026,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of HudBay Minerals in the 4th quarter valued at about $50,260,000. Dimensional Fund Advisors LP lifted its stake in HudBay Minerals by 86.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company's stock valued at $74,105,000 after acquiring an additional 4,253,400 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in HudBay Minerals during the 4th quarter valued at approximately $17,657,000. Arrowstreet Capital Limited Partnership lifted its stake in HudBay Minerals by 111.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,777,571 shares of the mining company's stock valued at $30,602,000 after acquiring an additional 1,994,431 shares during the period. Finally, Carrhae Capital LLP acquired a new stake in HudBay Minerals during the 1st quarter valued at approximately $14,244,000. Hedge funds and other institutional investors own 57.82% of the company's stock.

Analyst Upgrades and Downgrades

HBM has been the subject of several analyst reports. Raymond James Financial upgraded shares of HudBay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. BMO Capital Markets initiated coverage on shares of HudBay Minerals in a research note on Wednesday, April 16th. They issued an "outperform" rating for the company. Scotiabank reiterated an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, May 13th. Veritas upgraded shares of HudBay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. Finally, CIBC reiterated an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, July 15th. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy".

HudBay Minerals Price Performance

NYSE HBM traded down $0.21 on Friday, hitting $9.06. The company had a trading volume of 5,905,076 shares, compared to its average volume of 7,298,890. The company has a market capitalization of $3.58 billion, a PE ratio of 23.84, a PEG ratio of 0.23 and a beta of 1.64. The company's fifty day moving average price is $9.89 and its 200-day moving average price is $8.53. 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 12-month low of $5.95 and a 12-month high of $11.13.

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 EPS for the quarter, topping the consensus estimate of $0.10 by $0.14. The company had revenue of $594.90 million during the quarter, compared to analyst estimates of $537.36 million. HudBay Minerals had a net margin of 7.40% and a return on equity of 8.17%. The firm's revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 EPS. As a group, analysts predict that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

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.