TD Asset Management Inc Sells 1,603,853 Shares of HudBay Minerals Inc (NYSE:HBM)

TD Asset Management Inc lowered its holdings in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 52.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund 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 about 0.37% of HudBay Minerals worth $11,026,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Pictet Asset Management Holding SA raised its stake in HudBay Minerals by 2.0% in the fourth 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 in the last quarter. SBI Securities Co. Ltd. grew its position in shares of HudBay Minerals by 64.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock worth $29,000 after buying an additional 1,481 shares during the period. Alliancebernstein L.P. grew its holdings in HudBay Minerals by 3.9% in the fourth quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company's stock worth $589,000 after purchasing an additional 2,740 shares during the period. Smith Moore & CO. lifted its holdings in shares of HudBay Minerals by 28.4% during the fourth quarter. Smith Moore & CO. now owns 13,716 shares of the mining company's stock valued at $111,000 after purchasing an additional 3,032 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of 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 worth $25,000 after purchasing an additional 3,062 shares in the last quarter. 57.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HBM. Veritas raised HudBay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. Wall Street Zen downgraded shares of HudBay Minerals from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. BMO Capital Markets started coverage on shares of HudBay Minerals in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. CIBC reiterated an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, July 15th. Finally, Raymond James Financial raised HudBay Minerals to a "moderate buy" rating in a research report on Monday, June 30th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy".

HudBay Minerals Stock Performance

Shares of NYSE:HBM traded down $0.21 during trading on Friday, hitting $9.06. The company's stock had a trading volume of 5,905,076 shares, compared to its average volume of 7,298,890. The company has a 50-day moving average of $9.89 and a 200-day moving average of $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. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 23.84, a P/E/G ratio of 0.24 and a beta of 1.64. 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 posted its quarterly earnings data on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.10 by $0.14. HudBay Minerals had a return on equity of 8.17% and a net margin of 7.40%. The firm had revenue of $594.90 million during the quarter, compared to analyst estimates 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. On average, sell-side analysts expect 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.