Ironwood Investment Management LLC Sells 30,471 Shares of Hudbay Minerals Inc (HBM)

Ironwood Investment Management LLC decreased its stake in shares of Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) by 40.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,077 shares of the mining company’s stock after selling 30,471 shares during the quarter. Ironwood Investment Management LLC’s holdings in Hudbay Minerals were worth $315,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in Hudbay Minerals by 19.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 883,629 shares of the mining company’s stock worth $6,317,000 after purchasing an additional 141,202 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in Hudbay Minerals during the 1st quarter valued at $6,150,000. New York State Common Retirement Fund boosted its position in Hudbay Minerals by 683.5% during the 1st quarter. New York State Common Retirement Fund now owns 54,984 shares of the mining company’s stock valued at $393,000 after acquiring an additional 47,966 shares in the last quarter. Raymond James & Associates boosted its position in Hudbay Minerals by 12.0% during the 1st quarter. Raymond James & Associates now owns 20,539 shares of the mining company’s stock valued at $147,000 after acquiring an additional 2,200 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Hudbay Minerals by 499.0% during the 1st quarter. CIBC Asset Management Inc now owns 858,510 shares of the mining company’s stock valued at $6,135,000 after acquiring an additional 715,177 shares in the last quarter. Institutional investors and hedge funds own 65.79% of the company’s stock.

Hudbay Minerals stock opened at $4.56 on Friday. The company has a quick ratio of 2.14, a current ratio of 2.64 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $1.19 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 4.63 and a beta of 2.82. Hudbay Minerals Inc has a 1-year low of $3.44 and a 1-year high of $7.83.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Monday, May 6th. The mining company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. The firm had revenue of $292.30 million during the quarter, compared to analysts’ expectations of $314.70 million. Hudbay Minerals had a return on equity of 3.07% and a net margin of 2.22%. The business’s quarterly revenue was down 24.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. As a group, equities research analysts expect that Hudbay Minerals Inc will post 0.19 EPS for the current fiscal year.

Several analysts have issued reports on HBM shares. Royal Bank of Canada reaffirmed an “average” rating on shares of Hudbay Minerals in a research report on Tuesday, May 7th. Raymond James reaffirmed an “average” rating and set a $10.50 target price on shares of Hudbay Minerals in a research report on Thursday, April 18th. ValuEngine raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th. BMO Capital Markets reaffirmed a “buy” rating on shares of Hudbay Minerals in a research report on Tuesday, March 5th. Finally, Zacks Investment Research raised Hudbay Minerals from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a research report on Wednesday, February 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.05.

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Hudbay Minerals Profile

Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.

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Institutional Ownership by Quarter for Hudbay Minerals (NYSE:HBM)

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