Donald Smith & CO. Inc. Has $78.97 Million Stake in HudBay Minerals Inc $HBM

Donald Smith & CO. Inc. raised its position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 34.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,442,968 shares of the mining company’s stock after purchasing an additional 1,893,596 shares during the quarter. HudBay Minerals accounts for 1.9% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 25th biggest holding. Donald Smith & CO. Inc.’s holdings in HudBay Minerals were worth $78,970,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Picton Mahoney Asset Management acquired a new stake in shares of HudBay Minerals in the second quarter worth $61,432,000. Norges Bank purchased a new stake in HudBay Minerals in the 2nd quarter worth about $60,053,000. Millennium Management LLC boosted its position in HudBay Minerals by 298.5% during the 1st quarter. Millennium Management LLC now owns 6,115,053 shares of the mining company’s stock worth $46,411,000 after acquiring an additional 4,580,718 shares during the period. L1 Capital Pty Ltd boosted its position in HudBay Minerals by 44.1% during the 1st quarter. L1 Capital Pty Ltd now owns 14,423,384 shares of the mining company’s stock worth $109,365,000 after acquiring an additional 4,410,778 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in HudBay Minerals by 144.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock valued at $55,264,000 after acquiring an additional 4,299,428 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Trading Up 0.8%

Shares of HBM opened at $17.48 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. HudBay Minerals Inc has a 1 year low of $5.95 and a 1 year high of $18.00. The stock has a market cap of $6.93 billion, a PE ratio of 15.07 and a beta of 1.39. The stock has a 50 day simple moving average of $16.11 and a 200-day simple moving average of $12.63.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Wednesday, November 12th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. The business had revenue of $346.80 million during the quarter, compared to the consensus estimate of $538.16 million. During the same period last year, the business posted $0.13 EPS. The firm’s revenue for the quarter was down 28.6% compared to the same quarter last year. On average, sell-side analysts predict that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HBM has been the subject of a number of research analyst reports. Zacks Research lowered shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. National Bankshares reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, October 28th. Wall Street Zen cut shares of HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Bank of America upped their price target on shares of HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $19.50.

About HudBay Minerals

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.