Oliver Luxxe Assets LLC Has $3.38 Million Position in HudBay Minerals Inc $HBM

Oliver Luxxe Assets LLC lifted its position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 65.2% during the third quarter, HoldingsChannel.com reports. The fund owned 222,720 shares of the mining company’s stock after purchasing an additional 87,930 shares during the period. Oliver Luxxe Assets LLC’s holdings in HudBay Minerals were worth $3,376,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of HBM. Clear Harbor Asset Management LLC increased its stake in HudBay Minerals by 98.8% in the third quarter. Clear Harbor Asset Management LLC now owns 33,000 shares of the mining company’s stock valued at $500,000 after purchasing an additional 16,400 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of HudBay Minerals in the 3rd quarter valued at $2,618,000. Global Retirement Partners LLC acquired a new position in shares of HudBay Minerals in the 3rd quarter valued at $45,000. Precision Wealth Strategies LLC bought a new stake in shares of HudBay Minerals in the 3rd quarter valued at $855,000. Finally, Strong Tower Advisory Services raised its stake in HudBay Minerals by 2.4% during the 3rd quarter. Strong Tower Advisory Services now owns 94,175 shares of the mining company’s stock worth $1,428,000 after buying an additional 2,182 shares during the period. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Up 2.2%

Shares of HudBay Minerals stock opened at $21.57 on Friday. The firm has a market cap of $8.56 billion, a PE ratio of 18.59 and a beta of 1.36. The business’s 50 day simple moving average is $17.86 and its 200 day simple moving average is $14.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.97. HudBay Minerals Inc has a 52-week low of $5.95 and a 52-week high of $22.12.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results 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 return on equity of 8.89% and a net margin of 22.38%.The firm had revenue of $346.80 million for the quarter, compared to analyst estimates of $538.16 million. During the same period last year, the company earned $0.13 EPS. The company’s revenue was down 28.6% compared to the same quarter last year. On average, analysts predict that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Citigroup set a $34.50 target price on HudBay Minerals and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a report on Monday, November 17th. UBS Group started coverage on shares of HudBay Minerals in a research note on Thursday. They issued a “buy” rating on the stock. Finally, Wall Street Zen downgraded shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, HudBay Minerals presently has an average rating of “Buy” and a consensus price target of $27.00.

About HudBay Minerals

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.