Precision Wealth Strategies LLC Makes New $855,000 Investment in HudBay Minerals Inc $HBM

Precision Wealth Strategies LLC purchased a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 3rd quarter, Holdings Channel reports. The firm purchased 56,377 shares of the mining company’s stock, valued at approximately $855,000.

Other hedge funds also recently made changes to their positions in the company. Strong Tower Advisory Services increased its position in HudBay Minerals by 2.4% in the 3rd quarter. Strong Tower Advisory Services now owns 94,175 shares of the mining company’s stock valued at $1,428,000 after acquiring an additional 2,182 shares during the period. Impala Asset Management LLC bought a new stake in shares of HudBay Minerals during the second quarter valued at about $762,000. L1 Capital Pty Ltd raised its stake in shares of HudBay Minerals by 4.4% during 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 purchasing an additional 630,703 shares in the last quarter. Headlands Technologies LLC lifted its holdings in HudBay Minerals by 117.1% in the second quarter. Headlands Technologies LLC now owns 26,340 shares of the mining company’s stock worth $279,000 after purchasing an additional 14,210 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its position in HudBay Minerals by 51.2% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 65,672 shares of the mining company’s stock valued at $695,000 after buying an additional 22,251 shares in the last quarter. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Performance

HBM opened at $19.82 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.18. The firm has a market cap of $7.86 billion, a PE ratio of 17.09 and a beta of 1.39. The business has a fifty day simple moving average of $16.83 and a 200-day simple moving average of $13.57. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $20.16.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results 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 net margin of 22.38% and a return on equity of 8.89%. The company had revenue of $346.80 million for the quarter, compared to analysts’ expectations of $538.16 million. During the same period in the prior year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was down 28.6% on a year-over-year basis. As a group, equities analysts predict that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on HBM. Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a research report on Monday, November 17th. Bank of America boosted their target price on HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a report on Thursday, October 16th. Raymond James Financial restated an “outperform” rating on shares of HudBay Minerals in a research report on Friday, October 10th. Weiss Ratings restated a “hold (c+)” rating on shares of HudBay Minerals in a report on Tuesday. Finally, Citigroup started coverage on HudBay Minerals in a research note on Monday, December 15th. They set a “buy” rating and a $23.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $21.25.

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.