HudBay Minerals Inc $HBM Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lessened its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 63.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 530,020 shares of the mining company’s stock after selling 913,858 shares during the quarter. CIBC Asset Management Inc owned 0.13% of HudBay Minerals worth $8,019,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC purchased a new position in HudBay Minerals during the third quarter valued at approximately $45,000. Jones Financial Companies Lllp increased its holdings in shares of HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after purchasing an additional 3,733 shares in the last quarter. Plato Investment Management Ltd purchased a new position in shares of HudBay Minerals during the 2nd quarter valued at approximately $84,000. Y Intercept Hong Kong Ltd acquired a new position in shares of HudBay Minerals in the 2nd quarter valued at $116,000. Finally, Savvy Advisors Inc. purchased a new stake in HudBay Minerals during the second quarter worth $141,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

HBM has been the subject of a number of recent analyst reports. Zacks Research raised shares of HudBay Minerals from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. Bank of America raised their target price on HudBay Minerals from $16.50 to $19.50 and gave the company a “buy” rating in a research report on Thursday, October 16th. Citigroup set a $34.50 price target on HudBay Minerals and gave the company a “buy” rating in a research note on Thursday, January 8th. CIBC reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, January 15th. Finally, Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, HudBay Minerals has an average rating of “Buy” and an average target price of $27.00.

HudBay Minerals Stock Performance

NYSE HBM opened at $25.44 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.76. The stock’s 50 day simple moving average is $19.53 and its 200-day simple moving average is $15.45. The company has a market cap of $10.10 billion, a PE ratio of 21.93 and a beta of 1.36. HudBay Minerals Inc has a 1-year low of $5.95 and a 1-year high of $26.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Wednesday, November 12th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). The firm had revenue of $346.80 million during the quarter, compared to analyst estimates of $538.16 million. HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. The firm’s revenue for the quarter was down 28.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 earnings per share. As a group, equities research analysts anticipate that HudBay Minerals Inc will post 0.79 EPS for the current fiscal 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.