Galibier Capital Management Ltd. Has $10.41 Million Stock Holdings in HudBay Minerals Inc $HBM

Galibier Capital Management Ltd. lowered its holdings in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 40.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 687,008 shares of the mining company’s stock after selling 458,231 shares during the quarter. HudBay Minerals accounts for about 3.5% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 13th largest position. Galibier Capital Management Ltd. owned about 0.17% of HudBay Minerals worth $10,408,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of HBM. Jones Financial Companies Lllp boosted its position in shares of HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after acquiring an additional 3,733 shares during the period. Plato Investment Management Ltd acquired a new position in HudBay Minerals during the 2nd quarter valued at $84,000. Y Intercept Hong Kong Ltd bought a new stake in HudBay Minerals in the 2nd quarter valued at $116,000. Savvy Advisors Inc. bought a new stake in HudBay Minerals in the 2nd quarter valued at $141,000. Finally, Clear Harbor Asset Management LLC grew its position in HudBay Minerals by 66.0% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 16,600 shares of the mining company’s stock worth $176,000 after purchasing an additional 6,600 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

HudBay Minerals Stock Up 1.2%

NYSE HBM opened at $20.09 on Friday. HudBay Minerals Inc has a 1-year low of $5.95 and a 1-year high of $20.69. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of 17.32 and a beta of 1.36. The stock’s 50 day moving average is $17.33 and its two-hundred day moving average is $13.99. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Wednesday, November 12th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The company had revenue of $346.80 million during the quarter, compared to analyst estimates of $538.16 million. HudBay Minerals had a return on equity of 8.89% and a net margin of 22.38%.The company’s quarterly revenue was down 28.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 earnings per share. Equities analysts forecast that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on HBM shares. Wall Street Zen lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, October 28th. Raymond James Financial reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Friday, October 10th. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a report on Sunday, December 7th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a research report on Monday, November 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $21.25.

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.