Federated Hermes Inc. Increases Position in HudBay Minerals Inc $HBM

Federated Hermes Inc. increased its position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 25.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,972 shares of the mining company’s stock after acquiring an additional 26,444 shares during the period. Federated Hermes Inc.’s holdings in HudBay Minerals were worth $1,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. GMT Capital Corp acquired a new stake in shares of HudBay Minerals during the second quarter worth about $337,809,000. L1 Capital Pty Ltd raised its position in HudBay Minerals by 4.4% during the 2nd quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock worth $159,864,000 after buying an additional 630,703 shares during the last quarter. Hancock Prospecting Pty Ltd acquired a new stake in HudBay Minerals during the 2nd quarter valued at approximately $154,359,000. Invesco Ltd. boosted its holdings in shares of HudBay Minerals by 8.7% in the 2nd quarter. Invesco Ltd. now owns 11,344,408 shares of the mining company’s stock valued at $120,364,000 after acquiring an additional 903,517 shares during the last quarter. Finally, Donald Smith & CO. Inc. increased its stake in shares of HudBay Minerals by 34.1% in the second quarter. Donald Smith & CO. Inc. now owns 7,442,968 shares of the mining company’s stock worth $78,970,000 after acquiring an additional 1,893,596 shares during the period. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Wall Street Analyst Weigh In

HBM has been the subject of a number of research reports. CIBC restated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, January 15th. Raymond James Financial reissued 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 report on Sunday, December 7th. Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Monday, January 26th. Finally, Wall Street Zen lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $27.00.

HudBay Minerals Stock Down 2.5%

HBM opened at $25.61 on Thursday. The company has a market cap of $10.16 billion, a PE ratio of 22.08 and a beta of 1.33. HudBay Minerals Inc has a twelve month low of $5.95 and a twelve month high of $28.74. The company has a 50-day moving average price of $20.97 and a 200 day moving average price of $16.17. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.18.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted 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). HudBay Minerals had a return on equity of 8.89% and a net margin of 22.38%.The firm had revenue of $346.80 million for the quarter, compared to analysts’ expectations of $538.16 million. During the same quarter last year, the firm posted $0.13 earnings per share. HudBay Minerals’s quarterly revenue was down 28.6% on a year-over-year basis. Sell-side analysts expect 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.