Allianz Asset Management GmbH Trims Stake in HudBay Minerals Inc $HBM

Allianz Asset Management GmbH lessened its stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 18.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,027,041 shares of the mining company’s stock after selling 448,835 shares during the quarter. Allianz Asset Management GmbH owned about 0.51% of HudBay Minerals worth $30,710,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. GMT Capital Corp acquired a new stake in shares of HudBay Minerals during the second quarter valued at $337,809,000. L1 Capital Pty Ltd lifted its holdings in HudBay Minerals by 4.4% in 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. Hancock Prospecting Pty Ltd acquired a new stake in shares of HudBay Minerals during the 2nd quarter worth about $154,359,000. Invesco Ltd. grew its holdings in shares of HudBay Minerals by 8.7% during the second quarter. Invesco Ltd. now owns 11,344,408 shares of the mining company’s stock worth $120,364,000 after buying an additional 903,517 shares in the last quarter. Finally, Donald Smith & CO. Inc. grew its holdings in shares of HudBay Minerals by 34.1% during the second quarter. Donald Smith & CO. Inc. now owns 7,442,968 shares of the mining company’s stock worth $78,970,000 after buying an additional 1,893,596 shares in the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Natl Bk Canada lowered shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Wall Street Zen cut HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. National Bank Financial downgraded HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Thursday, January 29th. Bank of America increased their target price on HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a report on Monday, November 17th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.00.

HudBay Minerals Trading Down 8.2%

Shares of HBM opened at $23.46 on Friday. HudBay Minerals Inc has a twelve month low of $5.95 and a twelve month high of $28.74. The firm has a market capitalization of $9.31 billion, a P/E ratio of 20.22 and a beta of 1.33. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. The stock’s fifty day simple moving average is $21.11 and its 200 day simple moving average is $16.22.

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 analysts’ consensus estimates of $0.06 by ($0.03). The firm had revenue of $346.80 million for the quarter, compared to analysts’ expectations of $538.16 million. HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. HudBay Minerals’s revenue was down 28.6% on a year-over-year basis. During the same period last year, the firm posted $0.13 EPS. On average, equities research analysts forecast that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

HudBay Minerals Company 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.