Allianz Asset Management GmbH boosted its stake in Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) by 42.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,380,939 shares of the mining company’s stock after purchasing an additional 2,206,913 shares during the period. Allianz Asset Management GmbH owned approximately 2.83% of Hudbay Minerals worth $37,345,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Regal Investment Advisors LLC acquired a new stake in Hudbay Minerals in the 2nd quarter valued at $139,000. Trexquant Investment LP acquired a new stake in Hudbay Minerals in the 3rd quarter valued at $172,000. BlackRock Inc. increased its holdings in Hudbay Minerals by 131.1% in the 2nd quarter. BlackRock Inc. now owns 35,456 shares of the mining company’s stock valued at $199,000 after purchasing an additional 20,113 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in Hudbay Minerals in the 2nd quarter valued at $228,000. Finally, FIL Ltd acquired a new stake in Hudbay Minerals in the 3rd quarter valued at $304,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.
Shares of Hudbay Minerals stock opened at $5.08 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.98. The stock has a market cap of $1.33 billion, a PE ratio of 8.91 and a beta of 2.96. Hudbay Minerals Inc has a 1-year low of $3.44 and a 1-year high of $10.25.
Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Wednesday, October 31st. The mining company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.07. The company had revenue of $362.65 million during the quarter, compared to the consensus estimate of $305.36 million. Hudbay Minerals had a return on equity of 7.26% and a net margin of 12.29%. The company’s revenue was down 4.6% on a year-over-year basis. During the same period last year, the firm earned $0.17 earnings per share. On average, analysts predict that Hudbay Minerals Inc will post 0.34 EPS for the current fiscal year.
Several analysts recently issued reports on HBM shares. Credit Suisse Group reiterated a “neutral” rating on shares of Hudbay Minerals in a report on Monday, September 10th. ValuEngine upgraded Hudbay Minerals from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 7th. Barclays initiated coverage on Hudbay Minerals in a report on Wednesday, October 10th. They issued an “overweight” rating and a $8.00 price target for the company. Raymond James restated a “buy” rating on shares of Hudbay Minerals in a research note on Friday, November 2nd. Finally, Bank of America initiated coverage on Hudbay Minerals in a research note on Tuesday, August 14th. They set a “neutral” rating and a $6.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.33.
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About Hudbay Minerals
Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, the United States.
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