Hudbay Minerals Inc. (NYSE:HBM) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 10.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,756,655 shares of the mining company's stock after selling 944,396 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 1.97% of Hudbay Minerals worth $71,338,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Regal Partners Ltd purchased a new position in shares of Hudbay Minerals during the second quarter worth about $22,956,000. Artemis Investment Management LLP bought a new position in shares of Hudbay Minerals during the 3rd quarter worth about $20,907,000. TD Asset Management Inc grew its holdings in Hudbay Minerals by 199.4% during the second quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company's stock valued at $26,294,000 after purchasing an additional 1,935,709 shares during the period. Cubist Systematic Strategies LLC lifted its position in shares of Hudbay Minerals by 2,521.9% in the second quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company's stock worth $15,861,000 after purchasing an additional 1,685,836 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in shares of Hudbay Minerals in the second quarter valued at about $14,718,000. 57.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HBM shares. StockNews.com upgraded shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Friday, November 15th. Jefferies Financial Group upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Wednesday, August 14th. Five equities research 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 an average rating of "Buy" and a consensus price target of $11.17.

Hudbay Minerals Stock Performance

HBM traded down $0.08 during trading on Wednesday, reaching $9.02. 1,477,652 shares of the company's stock were exchanged, compared to its average volume of 3,105,634. The company has a market capitalization of $3.55 billion, a P/E ratio of 39.61 and a beta of 1.78. Hudbay Minerals Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $10.49. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $8.88 and a 200 day moving average price of $8.69.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.09. The firm had revenue of $485.80 million for the quarter, compared to analyst estimates of $454.47 million. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The business's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the firm posted $0.07 earnings per share. As a group, analysts predict that Hudbay Minerals Inc. will post 0.49 earnings per share for the current fiscal year.

Hudbay Minerals Company 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.