Hudbay Minerals Inc. (NYSE:HBM) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank raised its holdings in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 366.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,058,952 shares of the mining company's stock after acquiring an additional 832,111 shares during the quarter. Toronto Dominion Bank owned 0.27% of Hudbay Minerals worth $8,579,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its stake in shares of Hudbay Minerals by 9,877.4% in the fourth 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 during the period. Algert Global LLC purchased a new position in Hudbay Minerals in the fourth quarter valued at about $86,000. Plato Investment Management Ltd purchased a new position in Hudbay Minerals in the fourth quarter valued at about $95,000. Hsbc Holdings PLC acquired a new stake in shares of Hudbay Minerals during the 4th quarter valued at approximately $97,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Hudbay Minerals during the 4th quarter worth approximately $101,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Hudbay Minerals Price Performance

HBM stock traded up $0.33 on Monday, reaching $8.81. The company had a trading volume of 5,754,774 shares, compared to its average volume of 4,876,566. The company's fifty day moving average is $7.56 and its 200 day moving average is $8.11. The company has a market cap of $3.48 billion, a P/E ratio of 48.95 and a beta of 1.56. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. Hudbay Minerals Inc. has a 1 year low of $5.95 and a 1 year high of $10.15.

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, beating the consensus estimate of $0.10 by $0.14. The business had revenue of $594.90 million for the quarter, compared to the consensus estimate of $537.36 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The business's revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 earnings per share. On average, research analysts forecast that Hudbay Minerals Inc. will post 0.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

HBM has been the subject of several research analyst reports. Desjardins initiated coverage on Hudbay Minerals in a research note on Friday, April 4th. They issued a "buy" rating for the company. BMO Capital Markets started coverage on Hudbay Minerals in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Stifel Canada upgraded Hudbay Minerals to a "strong-buy" rating in a research report on Wednesday, March 19th. Wall Street Zen upgraded shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, Scotiabank reissued an "outperform" rating on shares of Hudbay Minerals in a research note on Tuesday, May 13th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average 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.