State of Wyoming Takes $800,000 Position in HudBay Minerals Inc $HBM

State of Wyoming acquired a new position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,768 shares of the mining company’s stock, valued at approximately $800,000.

Several other hedge funds have also recently bought and sold shares of HBM. Global Retirement Partners LLC acquired a new stake in HudBay Minerals in the 3rd quarter worth approximately $45,000. Jones Financial Companies Lllp lifted its stake 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 worth $50,000 after buying an additional 3,733 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in shares of HudBay Minerals in the second quarter worth $84,000. Y Intercept Hong Kong Ltd bought a new stake in shares of HudBay Minerals during the 2nd quarter worth $116,000. Finally, Savvy Advisors Inc. acquired a new position in HudBay Minerals in the 2nd quarter valued at $141,000. 57.82% of the stock is owned by institutional investors and hedge funds.

HudBay Minerals Price Performance

Shares of HBM stock opened at $24.10 on Tuesday. The stock’s fifty day simple moving average is $20.58 and its 200 day simple moving average is $15.99. HudBay Minerals Inc has a one year low of $5.95 and a one year high of $28.74. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 20.77 and a beta of 1.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.76.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HBM shares. Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Citigroup set a $34.50 target price on HudBay Minerals and gave the company a “buy” rating in a report on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HudBay Minerals in a research report on Monday, December 29th. UBS Group assumed coverage on HudBay Minerals in a research report on Thursday, January 8th. They issued a “buy” rating for the company. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a research note on Monday, November 17th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

HudBay Minerals Company Profile

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.