AGF Management Ltd. Has $21.95 Million Stock Position in HudBay Minerals Inc $HBM

AGF Management Ltd. reduced its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 23.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,449,220 shares of the mining company’s stock after selling 448,884 shares during the quarter. AGF Management Ltd. owned about 0.37% of HudBay Minerals worth $21,951,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. GMT Capital Corp bought a new position in shares of HudBay Minerals during the second quarter worth approximately $337,809,000. Hancock Prospecting Pty Ltd acquired a new position in HudBay Minerals in the 2nd quarter valued at $154,359,000. Picton Mahoney Asset Management acquired a new position in HudBay Minerals in the 2nd quarter valued at $61,432,000. Norges Bank bought a new position in HudBay Minerals during the 2nd quarter worth $60,053,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of HudBay Minerals by 144.2% during the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock worth $55,264,000 after buying an additional 4,299,428 shares in the last quarter. Institutional investors own 57.82% of the company’s stock.

Analyst Ratings Changes

HBM has been the topic of several research reports. CIBC restated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, January 15th. Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a research report on Monday, November 17th. Zacks Research raised shares of HudBay Minerals from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of HudBay Minerals in a research report on Monday, December 29th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, HudBay Minerals has an average rating of “Moderate Buy” and an average target price of $27.00.

HudBay Minerals Stock Performance

Shares of HudBay Minerals stock opened at $24.10 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. The company has a market cap of $9.56 billion, a PE ratio of 20.77 and a beta of 1.33. The company has a 50 day moving average of $20.58 and a 200-day moving average of $15.99. HudBay Minerals Inc has a 1-year low of $5.95 and a 1-year high of $28.74.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, November 12th. The mining company reported $0.03 EPS 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 analyst estimates of $538.16 million. HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. The firm’s revenue for the quarter was down 28.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 earnings per share. As a group, equities research analysts forecast that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

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.