Waterfront Wealth Inc. Invests $321,000 in HudBay Minerals Inc (NYSE:HBM)

Waterfront Wealth Inc. purchased a new position in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 42,309 shares of the mining company's stock, valued at approximately $321,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. grew its stake in HudBay Minerals by 142.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 100,303 shares of the mining company's stock valued at $761,000 after acquiring an additional 58,999 shares in the last quarter. U S Global Investors Inc. grew its stake in HudBay Minerals by 26.7% during the 1st quarter. U S Global Investors Inc. now owns 95,000 shares of the mining company's stock valued at $721,000 after acquiring an additional 20,000 shares in the last quarter. Artemis Investment Management LLP grew its stake in HudBay Minerals by 4.9% during the 1st quarter. Artemis Investment Management LLP now owns 2,701,243 shares of the mining company's stock valued at $20,483,000 after acquiring an additional 126,534 shares in the last quarter. Intact Investment Management Inc. grew its stake in HudBay Minerals by 55.6% during the 1st quarter. Intact Investment Management Inc. now owns 272,342 shares of the mining company's stock valued at $2,065,000 after acquiring an additional 97,342 shares in the last quarter. Finally, Lumbard & Kellner LLC grew its stake in HudBay Minerals by 31.4% during the 1st quarter. Lumbard & Kellner LLC now owns 537,757 shares of the mining company's stock valued at $4,082,000 after acquiring an additional 128,618 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

HudBay Minerals Stock Performance

HudBay Minerals stock opened at $10.58 on Monday. The firm has a 50 day simple moving average of $8.70 and a 200-day simple moving average of $8.22. HudBay Minerals Inc has a 1-year low of $5.95 and a 1-year high of $11.24. 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 stock has a market cap of $4.18 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 0.30 and a beta of 1.60.

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 EPS for the quarter, topping the consensus estimate of $0.10 by $0.14. HudBay Minerals had a net margin of 7.40% and a return on equity of 8.17%. The firm had revenue of $594.90 million for the quarter, compared to analyst estimates of $537.36 million. During the same period in the prior year, the business posted $0.22 EPS. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. On average, analysts expect that HudBay Minerals Inc will post 0.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HBM. Desjardins began coverage on shares of HudBay Minerals in a research note on Friday, April 4th. They set a "buy" rating for the company. Stifel Canada raised shares of HudBay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. Wall Street Zen raised shares of HudBay Minerals from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Scotiabank reissued an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, May 13th. Finally, 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. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, HudBay Minerals presently has a consensus rating of "Buy" and an average price target of $14.00.

HudBay Minerals 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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