Temasek Holdings Private Ltd Buys 520,544 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Temasek Holdings Private Ltd increased its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 40.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,803,771 shares of the mining company’s stock after purchasing an additional 520,544 shares during the quarter. Temasek Holdings Private Ltd owned about 0.46% of Hudbay Minerals worth $16,577,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Strong Tower Advisory Services acquired a new position in Hudbay Minerals in the second quarter valued at approximately $518,000. Blue Trust Inc. lifted its holdings in Hudbay Minerals by 60,870.8% in the second quarter. Blue Trust Inc. now owns 14,633 shares of the mining company’s stock valued at $132,000 after buying an additional 14,609 shares during the period. Liontrust Investment Partners LLP acquired a new position in Hudbay Minerals in the second quarter valued at approximately $100,000. K.J. Harrison & Partners Inc acquired a new position in Hudbay Minerals in the second quarter valued at approximately $773,000. Finally, Galibier Capital Management Ltd. lifted its holdings in Hudbay Minerals by 13.7% in the second quarter. Galibier Capital Management Ltd. now owns 2,046,150 shares of the mining company’s stock valued at $18,512,000 after buying an additional 247,002 shares during the period. 57.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HBM has been the topic of several analyst reports. Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. StockNews.com upgraded shares of 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 assigned a strong buy rating to the company. According to data from MarketBeat, Hudbay Minerals presently has a consensus rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Stock Up 1.7 %

Hudbay Minerals stock opened at $9.06 on Friday. The company has a market cap of $3.57 billion, a P/E ratio of 39.39 and a beta of 1.77. Hudbay Minerals Inc. has a 1-year low of $4.66 and a 1-year high of $10.49. The company has a fifty day simple moving average of $9.13 and a 200 day simple moving average of $8.67. 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 announced its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The company had revenue of $485.80 million during the quarter, compared to the consensus estimate of $454.47 million. During the same quarter last year, the firm posted $0.07 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. Research analysts anticipate that Hudbay Minerals Inc. will post 0.55 earnings per share 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.