Alps Advisors Inc. Has $2.81 Million Holdings in HudBay Minerals Inc $HBM

Alps Advisors Inc. boosted its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 20.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,056 shares of the mining company’s stock after purchasing an additional 31,852 shares during the period. Alps Advisors Inc.’s holdings in HudBay Minerals were worth $2,805,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Global Retirement Partners LLC bought a new stake in shares of HudBay Minerals during the third quarter worth $45,000. Jones Financial Companies Lllp lifted its position in HudBay Minerals by 131.6% during the 1st 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 in the last quarter. Plato Investment Management Ltd bought a new stake in HudBay Minerals during the 2nd quarter worth about $84,000. Y Intercept Hong Kong Ltd acquired a new stake in HudBay Minerals in the 2nd quarter valued at about $116,000. Finally, Savvy Advisors Inc. bought a new position in shares of HudBay Minerals in the second quarter worth about $141,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, January 15th. Citigroup set a $34.50 price objective on HudBay Minerals and gave the stock a “buy” rating in a report on Thursday, January 8th. Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Bank of America boosted their target price on HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of HudBay Minerals in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, HudBay Minerals currently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

HudBay Minerals Stock Performance

HBM stock opened at $25.92 on Tuesday. HudBay Minerals Inc has a twelve month low of $5.95 and a twelve month high of $28.74. 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 company has a market cap of $10.29 billion, a P/E ratio of 22.35 and a beta of 1.33. The business’s fifty day moving average is $21.44 and its 200-day moving average is $16.53.

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

HudBay Minerals 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.