HudBay Minerals Inc $HBM Stake Raised by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. lifted its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 34.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,442,968 shares of the mining company’s stock after buying an additional 1,893,596 shares during the period. HudBay Minerals makes up about 1.9% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 25th largest holding. Donald Smith & CO. Inc. owned about 1.88% of HudBay Minerals worth $78,970,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in HudBay Minerals by 180.7% in the second quarter. JPMorgan Chase & Co. now owns 4,201,190 shares of the mining company’s stock worth $44,575,000 after purchasing an additional 2,704,569 shares during the period. Franklin Resources Inc. increased its stake in HudBay Minerals by 7.9% during the 2nd quarter. Franklin Resources Inc. now owns 833,163 shares of the mining company’s stock valued at $8,844,000 after buying an additional 60,942 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of HudBay Minerals by 12.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,650,409 shares of the mining company’s stock worth $28,142,000 after buying an additional 285,500 shares in the last quarter. Boston Partners lifted its stake in shares of HudBay Minerals by 12.4% in the 2nd quarter. Boston Partners now owns 2,091,948 shares of the mining company’s stock worth $22,196,000 after acquiring an additional 230,136 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in shares of HudBay Minerals in the 2nd quarter worth approximately $61,432,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HBM has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. The Goldman Sachs Group began coverage on HudBay Minerals in a research report on Monday, September 8th. They set a “buy” rating on the stock. Raymond James Financial reissued an “outperform” rating on shares of HudBay Minerals in a research note on Friday, October 10th. Zacks Research cut HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of HudBay Minerals in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $19.50.

HudBay Minerals Stock Performance

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

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Wednesday, November 12th. The mining company reported $0.03 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 company had revenue of $346.80 million for the quarter, compared to analysts’ expectations of $538.16 million. During the same period in the prior year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was down 28.6% on a year-over-year basis. As a group, equities analysts predict 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.