Heathbridge Capital Management Ltd. Lowers stake in HudBay Minerals Inc (HBM)

HudBay Minerals Inc (HBM) : Heathbridge Capital Management Ltd. reduced its stake in HudBay Minerals Inc by 0.21% during the most recent quarter end. The investment management company now holds a total of 4,856,000 shares of HudBay Minerals Inc which is valued at $23,308,800 after selling 10,000 shares in HudBay Minerals Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.HudBay Minerals Inc makes up approximately 5.85% of Heathbridge Capital Management Ltd.’s portfolio.

Other Hedge Funds, Including , Letko Brosseau Associates Inc boosted its stake in HBM in the latest quarter, The investment management firm added 124,550 additional shares and now holds a total of 25,998,894 shares of HudBay Minerals Inc which is valued at $116,475,045. HudBay Minerals Inc makes up approx 1.07% of Letko Brosseau Associates Inc’s portfolio. Icm Asset Management Incwa added HBM to its portfolio by purchasing 177,430 company shares during the most recent quarter which is valued at $887,150. HudBay Minerals Inc makes up approx 1.20% of Icm Asset Management Incwa’s portfolio. Simplex Trading added HBM to its portfolio by purchasing 11,385 company shares during the most recent quarter which is valued at $56,583. HudBay Minerals Inc makes up approx 0.01% of Simplex Trading’s portfolio.

HudBay Minerals Inc closed down -0.18 points or -3.76% at $4.61 with 1,38,515 shares getting traded on Wednesday. Post opening the session at $4.74, the shares hit an intraday low of $4.6 and an intraday high of $4.75 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, HudBay Minerals Inc reported $-0.02 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.02. The company had revenue of $247.00 million for the quarter, compared to analysts expectations of $269.85 million. The company’s revenue was up 63.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.24 EPS.

Many Wall Street Analysts have commented on HudBay Minerals Inc. HudBay Minerals Inc was Downgraded by Credit Suisse to ” Neutral” on Jul 28, 2016. RBC Capital Mkts Upgraded HudBay Minerals Inc on May 16, 2016 to ” Outperform”, Price Target of the shares are set at $7.50.

HudBay Minerals Inc. (Hudbay) is a Canada-based mining company. The Company is engaged in the production of copper concentrate consisting of copper gold and silver as well as zinc metal. The Company is focused on the discovery production and marketing of base and precious metals in North and South America. Through its subsidiaries the Company owns copper/zinc/gold mines ore concentrators and a zinc production facility in northern Manitoba and Saskatchewan and copper projects in Cusco (Peru) and Arizona (United States). The Company’s properties include 777 Mine Lalor Mine Reed Mine. The Company also owns 100% interests of Constancia project in Peru and Rosemont project is a copper project located in Pima County Arizona.

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