HudBay Minerals Inc $HBM Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 18.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,027,041 shares of the mining company’s stock after selling 448,835 shares during the period. Allianz Asset Management GmbH’s holdings in HudBay Minerals were worth $30,710,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. State of Wyoming acquired a new position in shares of HudBay Minerals during the third quarter worth about $800,000. Carrera Capital Advisors lifted its position in HudBay Minerals by 4.1% during the 3rd quarter. Carrera Capital Advisors now owns 178,700 shares of the mining company’s stock worth $2,709,000 after acquiring an additional 6,989 shares in the last quarter. TD Waterhouse Canada Inc. boosted its holdings in HudBay Minerals by 183.0% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 500,982 shares of the mining company’s stock worth $7,708,000 after acquiring an additional 323,938 shares during the period. Federated Hermes Inc. grew its position in HudBay Minerals by 25.3% in the third quarter. Federated Hermes Inc. now owns 130,972 shares of the mining company’s stock valued at $1,986,000 after acquiring an additional 26,444 shares in the last quarter. Finally, Triasima Portfolio Management inc. acquired a new stake in HudBay Minerals in the third quarter valued at approximately $8,057,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

HudBay Minerals Trading Down 8.2%

NYSE HBM opened at $23.46 on Friday. The company has a market capitalization of $9.31 billion, a price-to-earnings ratio of 20.22 and a beta of 1.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.76. HudBay Minerals Inc has a 12 month low of $5.95 and a 12 month high of $28.74. The company’s fifty day moving average price is $21.11 and its two-hundred day moving average price is $16.22.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, November 12th. The mining company reported $0.03 earnings per share 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 the consensus estimate of $538.16 million. During the same period in the previous year, the firm posted $0.13 EPS. HudBay Minerals’s revenue for the quarter was down 28.6% on a year-over-year basis. As a group, research analysts predict that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

HBM has been the topic of a number of recent research reports. National Bankshares cut shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 28th. National Bank Financial downgraded shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research note on Thursday, January 29th. 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 report on Thursday, October 16th. Natl Bk Canada downgraded HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Wednesday, January 14th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, HudBay Minerals has a consensus rating of “Moderate Buy” and an average target price of $27.00.

HudBay Minerals Profile

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.