HudBay Minerals Inc $HBM Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. boosted its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 25.3% in the 3rd quarter, Holdings Channel reports. The fund owned 130,972 shares of the mining company’s stock after acquiring an additional 26,444 shares during the quarter. Federated Hermes Inc.’s holdings in HudBay Minerals were worth $1,986,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Triasima Portfolio Management inc. purchased a new stake in shares of HudBay Minerals in the third quarter valued at approximately $8,057,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of HudBay Minerals during the 3rd quarter worth $1,454,000. Robeco Schweiz AG raised its holdings in shares of HudBay Minerals by 7.4% during the 3rd quarter. Robeco Schweiz AG now owns 1,155,000 shares of the mining company’s stock worth $17,510,000 after acquiring an additional 80,000 shares during the period. Kiker Wealth Management LLC acquired a new position in shares of HudBay Minerals during the 3rd quarter valued at about $271,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of HudBay Minerals by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 101,493 shares of the mining company’s stock valued at $1,539,000 after purchasing an additional 4,220 shares during the period. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Wall Street Zen lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of HudBay Minerals in a report on Monday, December 29th. National Bank Financial lowered HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Thursday, January 29th. Bank of America lifted 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. Finally, 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. 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 company. According to MarketBeat.com, HudBay Minerals presently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

HudBay Minerals Stock Down 2.5%

NYSE:HBM opened at $25.61 on Thursday. HudBay Minerals Inc has a 52 week low of $5.95 and a 52 week high of $28.74. 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 stock’s fifty day moving average is $20.97 and its two-hundred day moving average is $16.17. The stock has a market capitalization of $10.16 billion, a price-to-earnings ratio of 22.08 and a beta of 1.33.

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

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.