Alps Advisors Inc. Has $2.81 Million Stock Holdings in HudBay Minerals Inc $HBM

Alps Advisors Inc. boosted its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 20.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 185,056 shares of the mining company’s stock after purchasing an additional 31,852 shares during the quarter. Alps Advisors Inc.’s holdings in HudBay Minerals were worth $2,805,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new position in shares of HudBay Minerals during the third quarter worth approximately $45,000. Jones Financial Companies Lllp increased its position in HudBay Minerals by 131.6% during the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after acquiring an additional 3,733 shares during the period. Plato Investment Management Ltd acquired a new position in HudBay Minerals during the 2nd quarter valued at $84,000. Y Intercept Hong Kong Ltd bought a new stake in HudBay Minerals in the 2nd quarter valued at $116,000. Finally, Savvy Advisors Inc. acquired a new stake in HudBay Minerals in the 2nd quarter worth $141,000. 57.82% of the stock is owned by institutional investors.

HudBay Minerals Stock Performance

Shares of NYSE:HBM opened at $25.92 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.76. The business’s fifty day moving average price is $21.44 and its two-hundred day moving average price is $16.53. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $28.74. The stock has a market capitalization of $10.29 billion, a price-to-earnings ratio of 22.35 and a beta of 1.33.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued 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 firm 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 firm posted $0.13 EPS. The firm’s revenue for the quarter was down 28.6% on a year-over-year basis. As a group, analysts predict that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Zacks Research upgraded HudBay Minerals from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. Wall Street Zen cut HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. National Bankshares cut HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 28th. Bank of America lifted their price target on shares of HudBay Minerals from $16.50 to $19.50 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, January 15th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

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.