Oliver Luxxe Assets LLC Buys 87,930 Shares of HudBay Minerals Inc $HBM

Oliver Luxxe Assets LLC grew its position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 65.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 222,720 shares of the mining company’s stock after purchasing an additional 87,930 shares during the period. Oliver Luxxe Assets LLC owned about 0.06% of HudBay Minerals worth $3,376,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Precision Wealth Strategies LLC bought a new stake in HudBay Minerals during the third quarter worth about $855,000. L1 Capital Pty Ltd raised its stake in shares of HudBay Minerals by 4.4% in the second quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock valued at $159,864,000 after acquiring an additional 630,703 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of HudBay Minerals by 7.9% in the 2nd quarter. Franklin Resources Inc. now owns 833,163 shares of the mining company’s stock worth $8,844,000 after acquiring an additional 60,942 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of HudBay Minerals by 180.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,201,190 shares of the mining company’s stock worth $44,575,000 after acquiring an additional 2,704,569 shares in the last quarter. Finally, Boston Partners grew its position in HudBay Minerals by 12.4% during the 2nd quarter. Boston Partners now owns 2,091,948 shares of the mining company’s stock worth $22,196,000 after acquiring an additional 230,136 shares during the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

HudBay Minerals Stock Up 2.2%

Shares of NYSE HBM opened at $21.57 on Friday. 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 firm has a market capitalization of $8.56 billion, a PE ratio of 18.59 and a beta of 1.36. The firm’s 50-day moving average is $17.86 and its 200-day moving average is $14.43. HudBay Minerals Inc has a 1 year low of $5.95 and a 1 year high of $22.12.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on HBM shares. Raymond James Financial reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Friday, October 10th. Citigroup set a $34.50 target price on HudBay Minerals and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings reiterated a “hold (c+)” rating on shares of HudBay Minerals in a research report on Monday, December 29th. Wall Street Zen lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, HudBay Minerals presently has an average rating of “Buy” and an average price target of $27.00.

About HudBay Minerals

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.