U S Global Investors Inc. Purchases 20,000 Shares of HudBay Minerals Inc (NYSE:HBM)

U S Global Investors Inc. lifted its position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 26.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,000 shares of the mining company’s stock after purchasing an additional 20,000 shares during the period. U S Global Investors Inc.’s holdings in HudBay Minerals were worth $721,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Pictet Asset Management Holding SA lifted its position in shares of HudBay Minerals by 2.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company’s stock valued at $538,000 after purchasing an additional 1,278 shares in the last quarter. Alliancebernstein L.P. raised its position in HudBay Minerals by 3.9% in the fourth quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company’s stock worth $589,000 after acquiring an additional 2,740 shares during the period. Smith Moore & CO. raised its position in HudBay Minerals by 28.4% in the fourth quarter. Smith Moore & CO. now owns 13,716 shares of the mining company’s stock worth $111,000 after acquiring an additional 3,032 shares during the period. Tower Research Capital LLC TRC raised its position in HudBay Minerals by 9,877.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock worth $25,000 after acquiring an additional 3,062 shares during the period. Finally, Cetera Investment Advisers raised its position in HudBay Minerals by 24.3% in the fourth quarter. Cetera Investment Advisers now owns 19,224 shares of the mining company’s stock worth $156,000 after acquiring an additional 3,760 shares during the period. 57.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HBM has been the topic of several research reports. BMO Capital Markets initiated coverage on shares of HudBay Minerals in a research report on Wednesday, April 16th. They issued an “outperform” rating on the stock. Stifel Canada raised shares of HudBay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. Desjardins initiated coverage on shares of HudBay Minerals in a research report on Friday, April 4th. They issued a “buy” rating on the stock. Wall Street Zen raised shares of HudBay Minerals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 21st. Finally, Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $14.00.

HudBay Minerals Price Performance

HBM opened at $10.58 on Friday. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 0.31 and a beta of 1.60. The company has a quick ratio of 1.92, a current ratio of 2.32 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average price of $8.70 and a 200-day moving average price of $8.23. HudBay Minerals Inc has a twelve month low of $5.95 and a twelve month high of $10.70.

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

About HudBay Minerals

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.