Nikko Asset Management Americas Inc. Buys 58,999 Shares of HudBay Minerals Inc (NYSE:HBM)

Nikko Asset Management Americas Inc. grew its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 142.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,303 shares of the mining company’s stock after purchasing an additional 58,999 shares during the period. Nikko Asset Management Americas Inc.’s holdings in HudBay Minerals were worth $761,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of HudBay Minerals by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 15,267,805 shares of the mining company’s stock valued at $123,852,000 after buying an additional 255,191 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in HudBay Minerals by 14.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,662,499 shares of the mining company’s stock valued at $118,874,000 after buying an additional 1,822,601 shares during the period. 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 during the period. Dimensional Fund Advisors LP raised its position in shares of 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 valued at $74,105,000 after acquiring an additional 4,253,400 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of HudBay Minerals by 4.9% in the 4th quarter. Bank of Montreal Can now owns 8,065,777 shares of the mining company’s stock valued at $65,342,000 after purchasing an additional 374,258 shares during the period. Institutional investors own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

HBM has been the subject of a number of analyst reports. CIBC reiterated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, May 13th. BMO Capital Markets initiated coverage on shares of HudBay Minerals in a research note on Wednesday, April 16th. They set an “outperform” rating on the stock. Wall Street Zen downgraded shares of HudBay Minerals from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 18th. Finally, Desjardins started coverage on shares of HudBay Minerals in a research report on Friday, April 4th. They set a “buy” rating on the stock. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, HudBay Minerals currently has an average rating of “Buy”.

HudBay Minerals Trading Down 2.4%

Shares of NYSE:HBM opened at $9.88 on Friday. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 0.26 and a beta of 1.63. HudBay Minerals Inc has a 12 month low of $5.95 and a 12 month high of $11.13. The company’s fifty day simple moving average is $9.80 and its 200 day simple moving average is $8.50. The company has a quick ratio of 1.92, a current ratio of 2.32 and a debt-to-equity ratio of 0.42.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.14. The company had revenue of $594.90 million for the quarter, compared to analyst estimates of $537.36 million. HudBay Minerals had a return on equity of 8.17% and a net margin of 7.40%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. As a group, research analysts forecast that HudBay Minerals Inc will post 0.79 EPS for the current fiscal 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.