Counterpoint Mutual Funds LLC Invests $130,000 in Hudbay Minerals Inc. (NYSE:HBM)

Counterpoint Mutual Funds LLC bought a new stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,501 shares of the mining company’s stock, valued at approximately $130,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise lifted its position in Hudbay Minerals by 38.7% during the first 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 during the last quarter. Bank of Nova Scotia increased its stake 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 valued at $121,000 after purchasing an additional 3,979 shares in the last quarter. Barclays PLC increased its stake in Hudbay Minerals by 7.1% during the 3rd quarter. Barclays PLC now owns 63,154 shares of the mining company’s stock valued at $308,000 after purchasing an additional 4,169 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in 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 purchasing an additional 4,655 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in Hudbay Minerals by 2.1% during the 4th quarter. CIBC Asset Management Inc now owns 351,911 shares of the mining company’s stock valued at $1,942,000 after purchasing an additional 7,161 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on HBM. Raymond James upped their price target on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Stifel Nicolaus began coverage on shares of Hudbay Minerals in a research note on Tuesday, March 26th. They issued a “buy” rating on the stock. Bank of America upgraded 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 note on Tuesday, April 9th. National Bank Financial raised shares of Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 14th. Finally, Jefferies Financial Group assumed coverage on shares of Hudbay Minerals in a report on Friday, May 3rd. They set a “hold” rating and a $13.00 price target on the stock. One 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $10.21.

Hudbay Minerals Price Performance

Shares of NYSE:HBM traded up $0.29 during midday trading on Wednesday, hitting $9.14. The company’s stock had a trading volume of 2,835,587 shares, compared to its average volume of 2,861,920. The business’s 50 day simple moving average is $8.95 and its 200 day simple moving average is $7.02. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.00 and a current ratio of 1.40. The company has a market cap of $3.60 billion, a P/E ratio of 38.83 and a beta of 1.83. Hudbay Minerals Inc. has a 12-month low of $3.94 and a 12-month high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Tuesday, May 14th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.13. Hudbay Minerals had a net margin of 4.36% and a return on equity of 6.22%. The firm had revenue of $524.99 million during the quarter, compared to analysts’ expectations of $463.69 million. On average, analysts forecast that Hudbay Minerals Inc. will post 0.59 EPS for the current year.

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.