Bank of Montreal Can Purchases 1,441,991 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Bank of Montreal Can increased its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 23.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,691,519 shares of the mining company’s stock after acquiring an additional 1,441,991 shares during the period. Bank of Montreal Can owned about 1.95% of Hudbay Minerals worth $71,308,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Hudbay Minerals by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock valued at $60,861,000 after acquiring an additional 272,635 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Hudbay Minerals by 734.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 249,702 shares of the mining company’s stock valued at $1,748,000 after acquiring an additional 219,792 shares during the period. Price T Rowe Associates Inc. MD increased its position in Hudbay Minerals by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 458,347 shares of the mining company’s stock worth $3,209,000 after purchasing an additional 50,126 shares during the period. Bayesian Capital Management LP grew its position in shares of Hudbay Minerals by 27.7% during the 1st quarter. Bayesian Capital Management LP now owns 44,300 shares of the mining company’s stock worth $310,000 after buying an additional 9,600 shares during the period. Finally, Boston Partners raised its stake in shares of Hudbay Minerals by 29.1% during the first quarter. Boston Partners now owns 552,226 shares of the mining company’s stock worth $3,866,000 after buying an additional 124,376 shares during the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

Hudbay Minerals Stock Down 3.8 %

NYSE:HBM opened at $8.70 on Wednesday. Hudbay Minerals Inc. has a 1 year low of $4.34 and a 1 year high of $10.49. The stock has a 50-day moving average price of $9.03 and a two-hundred day moving average price of $8.70. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 37.83 and a beta of 1.78. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.09. The company had revenue of $485.80 million during the quarter, compared to the consensus estimate of $454.47 million. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.07 earnings per share. As a group, equities analysts expect that Hudbay Minerals Inc. will post 0.53 earnings per share for the current year.

Wall Street Analyst Weigh In

HBM has been the subject of several recent research reports. Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Hudbay Minerals presently has a consensus rating of “Buy” and an average target price of $11.17.

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.