Cinctive Capital Management LP Boosts Stock Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Cinctive Capital Management LP increased its holdings in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 39.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 410,669 shares of the mining company's stock after acquiring an additional 116,732 shares during the period. Cinctive Capital Management LP owned about 0.10% of Hudbay Minerals worth $3,777,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Maverick Capital Ltd. increased its stake in shares of Hudbay Minerals by 45.1% during the 3rd quarter. Maverick Capital Ltd. now owns 271,139 shares of the mining company's stock worth $2,492,000 after purchasing an additional 84,240 shares during the last quarter. PDT Partners LLC grew its stake in Hudbay Minerals by 32.0% in the 3rd quarter. PDT Partners LLC now owns 194,382 shares of the mining company's stock valued at $1,786,000 after buying an additional 47,155 shares in the last quarter. Verition Fund Management LLC grew its stake in Hudbay Minerals by 106.8% in the 3rd quarter. Verition Fund Management LLC now owns 2,585,032 shares of the mining company's stock valued at $23,756,000 after buying an additional 1,334,969 shares in the last quarter. Northwest & Ethical Investments L.P. grew its stake in Hudbay Minerals by 0.8% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 197,289 shares of the mining company's stock valued at $1,815,000 after buying an additional 1,487 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Hudbay Minerals by 20.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,804 shares of the mining company's stock valued at $827,000 after buying an additional 15,258 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company's stock.

Hudbay Minerals Stock Up 2.3 %

HBM traded up $0.20 during midday trading on Tuesday, reaching $8.94. The company's stock had a trading volume of 1,012,548 shares, compared to its average volume of 3,087,417. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 38.91 and a beta of 1.77. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. Hudbay Minerals Inc. has a 1 year low of $4.51 and a 1 year high of $10.49. The stock's 50-day moving average is $9.13 and its 200-day moving average is $8.68.

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

Wall Street Analyst Weigh In

Several brokerages have commented on HBM. StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Friday, November 15th. Jefferies Financial Group raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Wednesday, August 14th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $11.17.

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.