Hudbay Minerals Inc. (NYSE:HBM) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its position in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 68.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 479,297 shares of the mining company's stock after selling 1,051,365 shares during the quarter. JPMorgan Chase & Co. owned about 0.12% of Hudbay Minerals worth $4,405,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mountaineer Partners Management LLC lifted its stake in shares of Hudbay Minerals by 792.5% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company's stock worth $94,874,000 after acquiring an additional 9,166,952 shares during the last quarter. Artemis Investment Management LLP bought a new stake in Hudbay Minerals during the 3rd quarter valued at $20,907,000. Cubist Systematic Strategies LLC raised its position 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 valued at $15,861,000 after purchasing an additional 1,685,836 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in Hudbay Minerals during the 2nd quarter valued at $14,718,000. Finally, D. E. Shaw & Co. Inc. raised its position in Hudbay Minerals by 158.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,648,536 shares of the mining company's stock valued at $23,970,000 after purchasing an additional 1,624,900 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, November 15th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $11.17.

Hudbay Minerals Stock Performance

Hudbay Minerals stock traded down $0.04 during trading hours on Friday, hitting $8.60. 4,536,683 shares of the stock traded hands, compared to its average volume of 4,090,741. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The firm's 50 day moving average price is $8.67 and its 200-day moving average price is $8.53. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 37.39 and a beta of 1.76. Hudbay Minerals Inc. has a 1 year low of $4.94 and a 1 year high of $10.49.

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 (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09. The business had revenue of $485.80 million during the quarter, compared to analysts' expectations of $454.47 million. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The company's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 EPS. As a group, equities analysts expect that Hudbay Minerals Inc. will post 0.56 EPS for the current fiscal year.

About Hudbay Minerals

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.