Dynamic Technology Lab Private Ltd Invests $884,000 in HudBay Minerals Inc $HBM

Dynamic Technology Lab Private Ltd bought a new stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 83,273 shares of the mining company’s stock, valued at approximately $884,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. TD Waterhouse Canada Inc. increased its position in shares of HudBay Minerals by 77.5% during the second quarter. TD Waterhouse Canada Inc. now owns 177,044 shares of the mining company’s stock worth $1,880,000 after purchasing an additional 77,284 shares in the last quarter. Spark Investment Management LLC purchased a new stake in HudBay Minerals in the second quarter valued at about $265,000. Persistent Asset Partners Ltd boosted its holdings in HudBay Minerals by 4.4% in the second quarter. Persistent Asset Partners Ltd now owns 123,152 shares of the mining company’s stock worth $1,306,000 after acquiring an additional 5,139 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of HudBay Minerals by 27.4% during the second quarter. Cetera Investment Advisers now owns 18,337 shares of the mining company’s stock worth $195,000 after acquiring an additional 3,943 shares during the last quarter. Finally, Creative Planning increased its holdings in shares of HudBay Minerals by 5.4% during the second quarter. Creative Planning now owns 25,067 shares of the mining company’s stock valued at $266,000 after acquiring an additional 1,289 shares in the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. National Bankshares reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Zacks Research cut shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, October 28th. Bank of America raised their target price on HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of HudBay Minerals in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $19.50.

HudBay Minerals Trading Up 2.1%

NYSE HBM opened at $14.89 on Friday. HudBay Minerals Inc has a 1 year low of $5.95 and a 1 year high of $17.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.86. The company has a market capitalization of $5.90 billion, a PE ratio of 20.40 and a beta of 1.58. The company has a fifty day moving average of $15.53 and a 200 day moving average of $12.00.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data 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). The company had revenue of $346.80 million for the quarter, compared to analysts’ expectations of $538.16 million. HudBay Minerals had a net margin of 13.13% and a return on equity of 10.73%. The business’s quarterly revenue was down 28.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 EPS. Research analysts forecast that HudBay Minerals Inc will post 0.79 earnings per share 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.