Ballentine Partners LLC Buys New Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Ballentine Partners LLC purchased a new stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 12,188 shares of the mining company’s stock, valued at approximately $85,000.

Other large investors have also recently bought and sold shares of the company. Banque Cantonale Vaudoise increased its holdings in Hudbay Minerals by 38.7% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after acquiring an additional 1,806 shares in the last quarter. Bank of Nova Scotia increased its holdings in Hudbay Minerals by 19.1% during the 3rd quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock worth $121,000 after purchasing an additional 3,979 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Hudbay Minerals in the fourth quarter valued at about $186,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Hudbay Minerals by 6.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,641 shares of the mining company’s stock valued at $396,000 after acquiring an additional 4,655 shares in the last quarter. Finally, Aigen Investment Management LP grew its position in shares of Hudbay Minerals by 140.1% during the 4th quarter. Aigen Investment Management LP now owns 96,019 shares of the mining company’s stock valued at $530,000 after buying an additional 56,034 shares during the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

Hudbay Minerals Stock Performance

NYSE HBM opened at $9.01 on Friday. The stock has a fifty day simple moving average of $9.01 and a 200 day simple moving average of $7.05. Hudbay Minerals Inc. has a twelve month low of $3.94 and a twelve month high of $10.49. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 39.15 and a beta of 1.83. The company has a quick ratio of 1.00, a current ratio of 1.40 and a debt-to-equity ratio of 0.61.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Tuesday, May 14th. The mining company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.13. The business had revenue of $524.99 million for the quarter, compared to analysts’ expectations of $463.69 million. Hudbay Minerals had a net margin of 4.36% and a return on equity of 6.22%. Sell-side analysts expect that Hudbay Minerals Inc. will post 0.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HBM shares. Bank of America raised shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a research report on Tuesday, April 9th. Raymond James upped their price target on Hudbay Minerals from $9.00 to $10.50 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. Stifel Nicolaus assumed coverage on shares of Hudbay Minerals in a report on Tuesday, March 26th. They set a “buy” rating for the company. Finally, National Bank Financial raised Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $10.21.

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.