Invesco Ltd. Has $120.36 Million Stake in HudBay Minerals Inc $HBM

Invesco Ltd. raised its holdings in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 8.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,344,408 shares of the mining company’s stock after acquiring an additional 903,517 shares during the quarter. Invesco Ltd. owned about 2.87% of HudBay Minerals worth $120,364,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in HBM. Jones Financial Companies Lllp boosted its position in shares of HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after acquiring an additional 3,733 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of HudBay Minerals in the 2nd quarter valued at approximately $84,000. Headlands Technologies LLC acquired a new position in shares of HudBay Minerals during the first quarter worth about $92,000. Y Intercept Hong Kong Ltd bought a new stake in HudBay Minerals during the 2nd quarter worth about $116,000. Finally, Savvy Advisors Inc. bought a new stake in shares of HudBay Minerals in the 2nd quarter valued at about $141,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. The Goldman Sachs Group initiated coverage on HudBay Minerals in a research report on Monday, September 8th. They issued a “buy” rating on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of HudBay Minerals in a research report on Monday, November 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of HudBay Minerals in a research note on Wednesday, October 8th. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, October 28th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research note on Sunday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, HudBay Minerals has a consensus rating of “Buy” and a consensus target price of $19.50.

HudBay Minerals Trading Up 1.3%

NYSE:HBM opened at $17.59 on Wednesday. The stock has a market capitalization of $6.97 billion, a price-to-earnings ratio of 15.16 and a beta of 1.39. HudBay Minerals Inc has a 52 week low of $5.95 and a 52 week high of $18.00. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $16.20 and a 200 day moving average of $12.79.

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 analysts’ consensus estimates of $0.06 by ($0.03). The firm had revenue of $346.80 million during the quarter, compared to analyst estimates of $538.16 million. HudBay Minerals had a return on equity of 8.89% and a net margin of 22.38%.The company’s revenue was down 28.6% on a year-over-year basis. During the same quarter last year, the company posted $0.13 EPS. As a group, sell-side analysts anticipate that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

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.