Heathbridge Capital Management Ltd. Boosts Holdings in Hudbay Minerals Inc (NYSE:HBM)

Heathbridge Capital Management Ltd. grew its position in Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) by 32.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,778,215 shares of the mining company’s stock after purchasing an additional 1,665,500 shares during the period. Hudbay Minerals makes up approximately 5.3% of Heathbridge Capital Management Ltd.’s holdings, making the stock its 16th largest holding. Heathbridge Capital Management Ltd. owned approximately 2.59% of Hudbay Minerals worth $24,465,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its position in Hudbay Minerals by 320.6% during the third quarter. CIBC Asset Management Inc now owns 641,274 shares of the mining company’s stock valued at $2,314,000 after buying an additional 488,799 shares during the period. Brave Asset Management Inc. acquired a new position in Hudbay Minerals during the third quarter valued at $38,000. Assenagon Asset Management S.A. acquired a new position in Hudbay Minerals in the 3rd quarter worth about $320,000. Mackenzie Financial Corp increased its position in Hudbay Minerals by 1.3% in the 2nd quarter. Mackenzie Financial Corp now owns 1,380,137 shares of the mining company’s stock worth $7,467,000 after purchasing an additional 18,159 shares during the last quarter. Finally, Anson Funds Management LP acquired a new position in Hudbay Minerals in the 2nd quarter worth about $2,003,000. 62.48% of the stock is currently owned by institutional investors and hedge funds.

HBM stock traded down $0.12 during mid-day trading on Friday, hitting $3.76. The stock had a trading volume of 545,800 shares, compared to its average volume of 853,023. The company has a current ratio of 2.31, a quick ratio of 1.86 and a debt-to-equity ratio of 0.48. Hudbay Minerals Inc has a 1-year low of $2.99 and a 1-year high of $7.83. The company has a fifty day moving average of $3.63 and a 200 day moving average of $4.48. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 9.64 and a beta of 3.05.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Thursday, August 8th. The mining company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.10). The firm had revenue of $329.40 million during the quarter, compared to analyst estimates of $310.63 million. Hudbay Minerals had a positive return on equity of 1.51% and a negative net margin of 3.61%. The business’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 earnings per share. As a group, sell-side analysts expect that Hudbay Minerals Inc will post -0.11 earnings per share for the current fiscal year.

HBM has been the topic of several research reports. Barclays reaffirmed an “average” rating and issued a $8.00 target price on shares of Hudbay Minerals in a research report on Sunday, August 4th. CIBC reaffirmed a “hold” rating and issued a $5.00 target price on shares of Hudbay Minerals in a research report on Friday, September 6th. Zacks Investment Research raised Hudbay Minerals from a “strong sell” rating to a “hold” rating in a research report on Friday, October 18th. Credit Suisse Group dropped their target price on Hudbay Minerals from $11.50 to $8.75 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Finally, ValuEngine raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Hudbay Minerals has an average rating of “Hold” and a consensus price target of $7.55.

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 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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Institutional Ownership by Quarter for Hudbay Minerals (NYSE:HBM)

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