AGF Management Ltd. Acquires 751,638 Shares of HudBay Minerals Inc (NYSE:HBM)

AGF Management Ltd. boosted its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 53.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,148,219 shares of the mining company’s stock after acquiring an additional 751,638 shares during the period. AGF Management Ltd.’s holdings in HudBay Minerals were worth $16,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in HudBay Minerals by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 15,398,817 shares of the mining company’s stock worth $116,738,000 after acquiring an additional 131,012 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in HudBay Minerals by 14.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,662,499 shares of the mining company’s stock worth $118,874,000 after acquiring an additional 1,822,601 shares in the last quarter. Invesco Ltd. grew its holdings in HudBay Minerals by 2.7% during the 4th quarter. Invesco Ltd. now owns 11,815,849 shares of the mining company’s stock worth $95,708,000 after acquiring an additional 314,619 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 acquiring an additional 4,253,400 shares in the last quarter. Finally, Donald Smith & CO. Inc. grew its holdings in HudBay Minerals by 31.3% during the 1st quarter. Donald Smith & CO. Inc. now owns 5,549,372 shares of the mining company’s stock worth $42,120,000 after acquiring an additional 1,323,745 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors.

HudBay Minerals Stock Down 1.0%

NYSE:HBM opened at $9.55 on Tuesday. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $11.13. The stock has a market capitalization of $3.78 billion, a P/E ratio of 25.12, a P/E/G ratio of 0.25 and a beta of 1.63. 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 company’s 50-day simple moving average is $9.94 and its 200-day simple moving average is $8.56.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.14. The business 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 company’s revenue was up 13.3% compared to the same quarter last year. During the same period last year, the business earned $0.22 EPS. On average, equities analysts anticipate that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on HBM shares. Raymond James Financial upgraded shares of HudBay Minerals to a “moderate buy” rating in a report on Monday, June 30th. Veritas upgraded shares of HudBay Minerals to a “strong-buy” rating in a report on Monday, July 7th. CIBC restated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, July 15th. BMO Capital Markets initiated coverage on shares of HudBay Minerals in a report on Wednesday, April 16th. They issued an “outperform” rating on the stock. Finally, Wall Street Zen upgraded shares of HudBay Minerals from a “buy” rating to a “strong-buy” rating in a report on Saturday. Five analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to 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.