CIBC Asset Management Inc boosted its stake in shares of Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) by 499.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 858,510 shares of the mining company’s stock after acquiring an additional 715,177 shares during the quarter. CIBC Asset Management Inc owned 0.33% of Hudbay Minerals worth $6,135,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. New York State Common Retirement Fund bought a new stake in shares of Hudbay Minerals during the fourth quarter worth $33,000. National Asset Management Inc. bought a new stake in shares of Hudbay Minerals during the fourth quarter worth $60,000. Ramsey Quantitative Systems bought a new stake in shares of Hudbay Minerals during the fourth quarter worth $60,000. Gotham Asset Management LLC bought a new stake in shares of Hudbay Minerals during the fourth quarter worth $86,000. Finally, Two Sigma Investments LP bought a new stake in shares of Hudbay Minerals during the fourth quarter worth $126,000. Hedge funds and other institutional investors own 67.69% of the company’s stock.
HBM has been the topic of several research analyst reports. Zacks Investment Research upgraded Hudbay Minerals from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Thursday, January 17th. CIBC restated a “neutral” rating on shares of Hudbay Minerals in a report on Sunday, January 20th. ValuEngine upgraded Hudbay Minerals from a “sell” rating to a “hold” rating in a report on Tuesday, January 22nd. Canaccord Genuity cut Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Wednesday, February 20th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Hudbay Minerals in a report on Tuesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $8.05.
Hudbay Minerals stock opened at $5.05 on Thursday. The stock has a market capitalization of $1.32 billion, a P/E ratio of 12.95, a PEG ratio of 4.49 and a beta of 2.82. Hudbay Minerals Inc has a 12-month low of $3.44 and a 12-month high of $7.83. The company has a current ratio of 2.64, a quick ratio of 2.14 and a debt-to-equity ratio of 0.48.
Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Monday, May 6th. The mining company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $292.30 million for the quarter, compared to analysts’ expectations of $314.70 million. Hudbay Minerals had a return on equity of 3.07% and a net margin of 2.22%. The firm’s quarterly revenue was down 24.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 earnings per share. As a group, equities analysts predict that Hudbay Minerals Inc will post 0.21 earnings per share for the current fiscal year.
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Hudbay Minerals Company Profile
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 three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.
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