Tidal Investments LLC Invests $886,000 in Hudbay Minerals Inc. (NYSE:HBM)

Tidal Investments LLC bought a new position in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 96,426 shares of the mining company's stock, valued at approximately $886,000.

Several other institutional investors also recently bought and sold shares of HBM. Sanctuary Advisors LLC purchased a new position in shares of Hudbay Minerals during the 3rd quarter worth about $178,000. Barclays PLC raised its stake in Hudbay Minerals by 2,414.5% during the third quarter. Barclays PLC now owns 86,475 shares of the mining company's stock worth $795,000 after purchasing an additional 83,036 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Hudbay Minerals in the 3rd quarter valued at $2,771,000. Toronto Dominion Bank grew its stake in shares of Hudbay Minerals by 300.9% during the 3rd quarter. Toronto Dominion Bank now owns 226,841 shares of the mining company's stock valued at $2,085,000 after buying an additional 170,257 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Hudbay Minerals by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 183,967 shares of the mining company's stock valued at $1,700,000 after buying an additional 8,664 shares during the period. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Trading Up 4.2 %

HBM stock traded up $0.33 during midday trading on Friday, reaching $8.24. 5,705,493 shares of the company's stock traded hands, compared to its average volume of 3,162,778. Hudbay Minerals Inc. has a fifty-two week low of $4.94 and a fifty-two week high of $10.49. The business has a 50-day moving average price of $9.00 and a two-hundred day moving average price of $8.59. The company has a market capitalization of $3.25 billion, a P/E ratio of 35.83 and a beta of 1.77. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted 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. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The business had revenue of $485.80 million for the quarter, compared to analyst estimates of $454.47 million. During the same quarter in the previous year, the business posted $0.07 EPS. The business's quarterly revenue was up 1.1% on a year-over-year basis. Equities research analysts forecast that Hudbay Minerals Inc. will post 0.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.