Triasima Portfolio Management inc. Purchases Shares of 531,833 HudBay Minerals Inc $HBM

Triasima Portfolio Management inc. acquired a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 531,833 shares of the mining company’s stock, valued at approximately $8,057,000. HudBay Minerals accounts for approximately 1.2% of Triasima Portfolio Management inc.’s holdings, making the stock its 23rd biggest holding. Triasima Portfolio Management inc. owned about 0.13% of HudBay Minerals as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Creative Planning raised its holdings in HudBay Minerals by 5.4% during the second quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after purchasing an additional 1,289 shares in the last quarter. Pacifica Partners Inc. increased its position in HudBay Minerals by 6.7% during the 2nd quarter. Pacifica Partners Inc. now owns 25,921 shares of the mining company’s stock worth $272,000 after purchasing an additional 1,625 shares during the period. Strong Tower Advisory Services raised its stake in shares of HudBay Minerals by 2.4% during the 3rd quarter. Strong Tower Advisory Services now owns 94,175 shares of the mining company’s stock worth $1,428,000 after buying an additional 2,182 shares in the last quarter. Ballentine Partners LLC lifted its holdings in shares of HudBay Minerals by 10.3% in the 2nd quarter. Ballentine Partners LLC now owns 29,757 shares of the mining company’s stock valued at $316,000 after buying an additional 2,768 shares during the period. Finally, Global Retirement Partners LLC purchased a new stake in shares of HudBay Minerals in the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HBM shares. Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. CIBC reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday. Bank of America boosted their price objective on shares of HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a report on Thursday, October 16th. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a report on Sunday, December 7th. Finally, Zacks Research lowered HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $27.00.

HudBay Minerals Stock Up 1.6%

Shares of NYSE:HBM opened at $22.87 on Tuesday. The company has a market capitalization of $9.08 billion, a P/E ratio of 19.81 and a beta of 1.36. The stock’s fifty day simple moving average is $18.68 and its 200-day simple moving average is $14.96. HudBay Minerals Inc has a 52-week low of $5.95 and a 52-week high of $23.34. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.18.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released 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 firm had revenue of $346.80 million during the quarter, compared to analysts’ expectations of $538.16 million. HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. HudBay Minerals’s revenue for the quarter was down 28.6% on a year-over-year basis. During the same quarter last year, the company posted $0.13 earnings per share. As a group, equities research analysts forecast that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

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.