The Manufacturers Life Insurance Company Has $12.40 Million Holdings in Hudbay Minerals Inc. (NYSE:HBM)

The Manufacturers Life Insurance Company grew its position in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,346,659 shares of the mining company's stock after buying an additional 117,275 shares during the quarter. The Manufacturers Life Insurance Company owned 0.34% of Hudbay Minerals worth $12,395,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Regal Partners Ltd acquired a new stake in shares of Hudbay Minerals in the second quarter worth approximately $22,956,000. Artemis Investment Management LLP acquired a new position in shares of Hudbay Minerals in the 3rd quarter valued at $20,907,000. TD Asset Management Inc grew its stake in shares of 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 buying an additional 1,935,709 shares during the period. Cubist Systematic Strategies LLC increased its holdings in shares of 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 buying an additional 1,685,836 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new position in shares of Hudbay Minerals in the 2nd quarter worth $14,718,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Hudbay Minerals Stock Performance

Shares of NYSE:HBM traded up $0.21 on Tuesday, reaching $8.95. 757,354 shares of the company's stock were exchanged, compared to its average volume of 3,086,326. 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's 50-day moving average is $9.13 and its two-hundred day moving average is $8.68. Hudbay Minerals Inc. has a fifty-two week low of $4.51 and a fifty-two week high of $10.49. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 38.91 and a beta of 1.77.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The company had revenue of $485.80 million during the quarter, compared to the consensus estimate of $454.47 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Hudbay Minerals Inc. will post 0.55 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HBM. Jefferies Financial Group raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Wednesday, August 14th. StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $11.17.

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.