Intact Investment Management Inc. Has $2.07 Million Stock Position in HudBay Minerals Inc (NYSE:HBM)

Intact Investment Management Inc. lifted its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 55.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 272,342 shares of the mining company’s stock after acquiring an additional 97,342 shares during the period. Intact Investment Management Inc.’s holdings in HudBay Minerals were worth $2,065,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of HBM. Norges Bank acquired a new position in shares of HudBay Minerals during the 4th quarter worth $50,260,000. Dimensional Fund Advisors LP raised its holdings in shares of HudBay Minerals by 86.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company’s stock worth $74,105,000 after buying an additional 4,253,400 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in HudBay Minerals in the 4th quarter worth about $17,657,000. American Century Companies Inc. increased its holdings in HudBay Minerals by 102.4% in the 4th quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company’s stock worth $34,684,000 after purchasing an additional 2,163,000 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in HudBay Minerals by 111.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,777,571 shares of the mining company’s stock worth $30,602,000 after purchasing an additional 1,994,431 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analysts Set New Price Targets

HBM has been the subject of a number of recent research reports. Wall Street Zen raised HudBay Minerals from a “buy” rating to a “strong-buy” rating in a report on Saturday. Stifel Canada raised HudBay Minerals to a “strong-buy” rating in a report on Wednesday, March 19th. BMO Capital Markets initiated coverage on HudBay Minerals in a report on Wednesday, April 16th. They issued an “outperform” rating for the company. Desjardins initiated coverage on HudBay Minerals in a report on Friday, April 4th. They issued a “buy” rating for the company. Finally, Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, May 13th. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $14.00.

HudBay Minerals Trading Down 1.4%

NYSE HBM opened at $9.59 on Friday. The business’s 50-day moving average price is $8.39 and its two-hundred day moving average price is $8.19. HudBay Minerals Inc has a 12 month low of $5.95 and a 12 month high of $10.07. The firm has a market capitalization of $3.79 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 0.27 and a beta of 1.60. The company has a current ratio of 2.32, a quick ratio of 1.92 and a debt-to-equity ratio of 0.42.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.14. HudBay Minerals had a return on equity of 8.17% and a net margin of 7.40%. The firm had revenue of $594.90 million for the quarter, compared to analyst estimates of $537.36 million. During the same quarter in the previous year, the company posted $0.22 EPS. The business’s revenue was up 13.3% on a year-over-year basis. On average, analysts expect that HudBay Minerals Inc will post 0.79 EPS for the current 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.