Robeco Institutional Asset Management B.V. Takes Position in HudBay Minerals Inc $HBM

Robeco Institutional Asset Management B.V. bought a new stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 172,709 shares of the mining company’s stock, valued at approximately $2,618,000.

Other large investors have also made changes to their positions in the company. Global Retirement Partners LLC bought a new position in shares of HudBay Minerals in the 3rd quarter valued at $45,000. Jones Financial Companies Lllp boosted its position in HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after buying an additional 3,733 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of HudBay Minerals during the second quarter worth $84,000. Y Intercept Hong Kong Ltd acquired a new position in shares of HudBay Minerals during the second quarter worth $116,000. Finally, Savvy Advisors Inc. bought a new position in shares of HudBay Minerals in the 2nd quarter valued at $141,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

HudBay Minerals Trading Up 2.2%

HBM opened at $21.57 on Friday. HudBay Minerals Inc has a twelve month low of $5.95 and a twelve month high of $22.12. The company has a fifty day moving average of $17.86 and a 200-day moving average of $14.43. The stock has a market cap of $8.56 billion, a PE ratio of 18.59 and a beta of 1.36. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.18.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Wednesday, November 12th. The mining company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. The firm had revenue of $346.80 million for the quarter, compared to the consensus estimate of $538.16 million. During the same period last year, the company posted $0.13 EPS. The business’s revenue 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 year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HBM. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, October 28th. UBS Group started coverage on shares of HudBay Minerals in a research note on Thursday. They set a “buy” rating for the company. Bank of America boosted their price objective 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. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HudBay Minerals in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $27.00.

About HudBay Minerals

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.