Banque Cantonale Vaudoise Buys 1,806 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Banque Cantonale Vaudoise grew its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 38.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,471 shares of the mining company’s stock after acquiring an additional 1,806 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Hudbay Minerals were worth $45,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in HBM. Letko Brosseau & Associates Inc. grew its position in Hudbay Minerals by 0.7% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 16,569,958 shares of the mining company’s stock worth $91,609,000 after purchasing an additional 114,266 shares in the last quarter. L1 Capital Pty Ltd grew its holdings in shares of Hudbay Minerals by 15.1% in the third quarter. L1 Capital Pty Ltd now owns 16,299,356 shares of the mining company’s stock valued at $79,378,000 after acquiring an additional 2,141,437 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Hudbay Minerals by 28.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock valued at $51,836,000 after acquiring an additional 2,085,641 shares during the last quarter. Invesco Ltd. lifted its holdings in Hudbay Minerals by 60.2% during the third quarter. Invesco Ltd. now owns 6,998,581 shares of the mining company’s stock worth $34,083,000 after acquiring an additional 2,630,780 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in Hudbay Minerals by 33.8% during the fourth quarter. Mackenzie Financial Corp now owns 5,014,948 shares of the mining company’s stock worth $27,604,000 after acquiring an additional 1,266,717 shares during the period. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Price Performance

Shares of NYSE HBM opened at $8.86 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.00 and a current ratio of 1.40. Hudbay Minerals Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $10.49. The stock has a market cap of $3.49 billion, a PE ratio of 38.50 and a beta of 1.83. The stock has a fifty day moving average of $8.95 and a 200-day moving average of $7.02.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Tuesday, May 14th. The mining company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.13. Hudbay Minerals had a return on equity of 6.22% and a net margin of 4.36%. The firm had revenue of $524.99 million for the quarter, compared to analysts’ expectations of $463.69 million. Equities research analysts anticipate that Hudbay Minerals Inc. will post 0.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HBM. Raymond James raised their target price on Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Bank of America upgraded shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Tuesday, April 9th. National Bank Financial upgraded shares of Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 14th. Jefferies Financial Group initiated coverage on Hudbay Minerals in a research note on Friday, May 3rd. They issued a “hold” rating and a $13.00 price objective on the stock. Finally, StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $10.21.

Hudbay Minerals 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.