Ausbil Investment Management Ltd Reduces Stake in HudBay Minerals Inc $HBM

Ausbil Investment Management Ltd cut its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 50.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,000 shares of the mining company’s stock after selling 30,000 shares during the period. Ausbil Investment Management Ltd’s holdings in HudBay Minerals were worth $461,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HBM. Impala Asset Management LLC bought a new stake in HudBay Minerals in the second quarter valued at $762,000. L1 Capital Pty Ltd boosted its stake in shares of HudBay Minerals by 4.4% during the 2nd quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock valued at $159,864,000 after purchasing an additional 630,703 shares in the last quarter. Headlands Technologies LLC increased its position in shares of HudBay Minerals by 117.1% during the second quarter. Headlands Technologies LLC now owns 26,340 shares of the mining company’s stock valued at $279,000 after buying an additional 14,210 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of HudBay Minerals by 51.2% during the second quarter. CANADA LIFE ASSURANCE Co now owns 65,672 shares of the mining company’s stock valued at $695,000 after buying an additional 22,251 shares during the period. Finally, State of Tennessee Department of Treasury raised its stake in HudBay Minerals by 245.9% in the second quarter. State of Tennessee Department of Treasury now owns 58,014 shares of the mining company’s stock worth $615,000 after buying an additional 41,240 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HBM. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Friday, October 10th. Wall Street Zen cut HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, October 28th. Bank of America boosted their target price on shares of HudBay Minerals from $16.50 to $19.50 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Zacks Research downgraded shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, HudBay Minerals has a consensus rating of “Buy” and a consensus target price of $21.25.

HudBay Minerals Trading Up 0.1%

NYSE HBM opened at $19.00 on Friday. HudBay Minerals Inc has a 12 month low of $5.95 and a 12 month high of $19.30. The stock has a market cap of $7.54 billion, a P/E ratio of 16.38 and a beta of 1.39. The stock’s fifty day moving average price is $16.58 and its 200-day moving average price is $13.21. 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 (NYSE:HBM) (TSE:HBM) last posted its quarterly 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 return on equity of 8.89% and a net margin of 22.38%.The company had revenue of $346.80 million during the quarter, compared to analysts’ expectations of $538.16 million. During the same period in the prior year, the firm earned $0.13 EPS. HudBay Minerals’s revenue for the quarter was down 28.6% compared to the same quarter last year. As a group, equities analysts forecast that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

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.