Easterly Investment Partners LLC Buys New Shares in HudBay Minerals Inc (NYSE:HBM)

Easterly Investment Partners LLC acquired a new stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 206,414 shares of the mining company’s stock, valued at approximately $1,567,000. Easterly Investment Partners LLC owned 0.05% of HudBay Minerals at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HBM. Carrhae Capital LLP bought a new stake in shares of HudBay Minerals during the first quarter worth about $14,244,000. SBI Securities Co. Ltd. raised its holdings in shares of HudBay Minerals by 64.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company’s stock worth $29,000 after acquiring an additional 1,481 shares during the last quarter. Ballentine Partners LLC raised its holdings in shares of HudBay Minerals by 29.6% in the 1st quarter. Ballentine Partners LLC now owns 26,989 shares of the mining company’s stock worth $205,000 after acquiring an additional 6,169 shares during the last quarter. Alps Advisors Inc. grew its position in HudBay Minerals by 6.2% in the 1st quarter. Alps Advisors Inc. now owns 176,316 shares of the mining company’s stock worth $1,338,000 after purchasing an additional 10,346 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC grew its position in HudBay Minerals by 2.2% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 797,648 shares of the mining company’s stock worth $6,628,000 after purchasing an additional 17,361 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

HudBay Minerals Stock Performance

HudBay Minerals stock opened at $10.13 on Thursday. The firm’s fifty day moving average price is $9.55 and its 200-day moving average price is $8.43. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.92 and a current ratio of 2.32. The stock has a market cap of $4.00 billion, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 0.29 and a beta of 1.63. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $11.13.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Veritas raised shares of HudBay Minerals to a “strong-buy” rating in a research report on Monday, July 7th. Stifel Canada upgraded shares of HudBay Minerals to a “strong-buy” rating in a research note on Wednesday, March 19th. Wall Street Zen upgraded shares of HudBay Minerals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 21st. CIBC reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday. Finally, Desjardins initiated coverage on shares of HudBay Minerals in a research note on Friday, April 4th. They issued a “buy” rating on the stock. Five research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, HudBay Minerals presently has an average rating of “Buy”.

HudBay Minerals Company 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.