Baader Bank Aktiengesellschaft Acquires New Shares in HudBay Minerals Inc $HBM

Baader Bank Aktiengesellschaft acquired a new stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,573 shares of the mining company’s stock, valued at approximately $700,000.

A number of other hedge funds also recently bought and sold shares of HBM. Global Retirement Partners LLC bought a new position in shares of HudBay Minerals in the 3rd quarter worth approximately $45,000. Jones Financial Companies Lllp grew its stake 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 acquiring an additional 3,733 shares during the period. Plato Investment Management Ltd bought a new stake in HudBay Minerals during the 2nd quarter worth approximately $84,000. Y Intercept Hong Kong Ltd bought a new stake in shares of HudBay Minerals during the 2nd quarter valued at $116,000. Finally, Savvy Advisors Inc. purchased a new position in shares of HudBay Minerals in the second quarter valued at about $141,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Up 4.0%

Shares of NYSE HBM opened at $26.41 on Thursday. HudBay Minerals Inc has a 12-month low of $5.95 and a 12-month high of $28.74. The stock’s fifty day simple moving average is $21.80 and its two-hundred day simple moving average is $16.71. The stock has a market capitalization of $10.48 billion, a PE ratio of 22.77 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.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Wednesday, November 12th. The mining company reported $0.03 earnings per share 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 company had revenue of $346.80 million for the quarter, compared to the consensus estimate of $538.16 million. During the same period in the previous year, the business earned $0.13 EPS. HudBay Minerals’s revenue for the quarter was down 28.6% compared to the same quarter last year. As a group, analysts expect that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on HBM. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Royal Bank Of Canada reissued an “outperform” rating on shares of HudBay Minerals in a research note on Monday, November 17th. Bank of America increased their price target on HudBay Minerals from $16.50 to $19.50 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Citigroup upped their price target on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $26.00.

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.