AGF Management Ltd. Sells 448,884 Shares of HudBay Minerals Inc $HBM

AGF Management Ltd. reduced its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 23.6% during the third quarter, HoldingsChannel reports. The firm owned 1,449,220 shares of the mining company’s stock after selling 448,884 shares during the quarter. AGF Management Ltd.’s holdings in HudBay Minerals were worth $21,951,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Creative Planning lifted its stake in HudBay Minerals by 5.4% in the 2nd quarter. Creative Planning now owns 25,067 shares of the mining company’s stock valued at $266,000 after purchasing an additional 1,289 shares during the last quarter. Strong Tower Advisory Services increased its holdings in shares of HudBay Minerals by 2.4% during the third quarter. Strong Tower Advisory Services now owns 94,175 shares of the mining company’s stock worth $1,428,000 after buying an additional 2,182 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of HudBay Minerals during the third quarter worth $45,000. Jones Financial Companies Lllp lifted its stake in shares of HudBay Minerals by 131.6% in 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 during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of HudBay Minerals by 27.4% during the 2nd quarter. Cetera Investment Advisers now owns 18,337 shares of the mining company’s stock valued at $195,000 after acquiring an additional 3,943 shares in the last quarter. 57.82% of the stock is owned by institutional investors.

HudBay Minerals Price Performance

Shares of HBM opened at $24.10 on Tuesday. The business has a 50-day moving average of $20.58 and a 200-day moving average of $15.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.76. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 20.77 and a beta of 1.33. 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 released its earnings results 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 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 business’s revenue for the quarter was down 28.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS. As a group, equities research analysts anticipate that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

Wall Street Analyst Weigh In

HBM has been the subject of a number of recent research reports. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Wednesday, January 14th. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Royal Bank Of Canada reiterated an “outperform” rating on shares of HudBay Minerals in a report on Monday, November 17th. Citigroup set a $34.50 target price on shares of HudBay Minerals and gave the stock a “buy” rating in a research report on Thursday, January 8th. Finally, National Bankshares cut shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 28th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.00.

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.