Hudbay Minerals Inc. (NYSE:HBM) Stock Holdings Lowered by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 6.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,167,063 shares of the mining company's stock after selling 77,129 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.30% of Hudbay Minerals worth $10,733,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HBM. Regal Partners Ltd acquired a new position in shares of Hudbay Minerals in the 2nd quarter valued at approximately $22,956,000. Artemis Investment Management LLP acquired a new stake in Hudbay Minerals in the third quarter valued at $20,907,000. TD Asset Management Inc boosted its stake in Hudbay Minerals by 199.4% during the 2nd quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company's stock valued at $26,294,000 after acquiring an additional 1,935,709 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in Hudbay Minerals by 2,521.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company's stock worth $15,861,000 after acquiring an additional 1,685,836 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in shares of Hudbay Minerals in the 2nd quarter worth about $14,718,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on HBM shares. Jefferies Financial Group raised Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Wednesday, August 14th. StockNews.com upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Friday, November 15th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Hudbay Minerals currently has a consensus rating of "Buy" and an average price target of $11.17.

Hudbay Minerals Stock Performance

Shares of Hudbay Minerals stock traded down $0.18 during trading on Monday, hitting $8.76. 3,471,456 shares of the stock were exchanged, compared to its average volume of 3,096,535. The stock's fifty day moving average is $9.12 and its 200 day moving average is $8.69. The stock has a market cap of $3.45 billion, a PE ratio of 37.87 and a beta of 1.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. Hudbay Minerals Inc. has a 12 month low of $4.51 and a 12 month high of $10.49.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.09. The firm had revenue of $485.80 million for the quarter, compared to the consensus estimate of $454.47 million. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. As a group, sell-side analysts anticipate that Hudbay Minerals Inc. will post 0.55 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.