ETF Managers Group LLC cut its position in shares of Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) by 11.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 347,162 shares of the mining company’s stock after selling 44,710 shares during the quarter. ETF Managers Group LLC’s holdings in Hudbay Minerals were worth $2,481,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. New York State Common Retirement Fund acquired a new position in shares of Hudbay Minerals in the fourth quarter worth $33,000. National Asset Management Inc. acquired a new position in shares of Hudbay Minerals in the fourth quarter worth $60,000. Ramsey Quantitative Systems acquired a new position in shares of Hudbay Minerals in the fourth quarter worth $60,000. Gotham Asset Management LLC acquired a new position in shares of Hudbay Minerals in the fourth quarter worth $86,000. Finally, Two Sigma Investments LP acquired a new position in shares of Hudbay Minerals in the fourth quarter worth $126,000. 67.69% of the stock is owned by hedge funds and other institutional investors.

HBM has been the subject of a number of analyst reports. CIBC reissued a “neutral” rating on shares of Hudbay Minerals in a report on Sunday, January 20th. ValuEngine raised Hudbay Minerals from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. Zacks Investment Research raised Hudbay Minerals from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research report on Thursday, January 31st. Canaccord Genuity downgraded Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Wednesday, February 20th. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of Hudbay Minerals in a research report on Tuesday, February 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $8.05.

Shares of NYSE:HBM opened at $5.01 on Monday. The firm has a market capitalization of $1.31 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 4.74 and a beta of 2.82. The company has a quick ratio of 2.14, a current ratio of 2.64 and a debt-to-equity ratio of 0.48. Hudbay Minerals Inc has a 52 week low of $3.44 and a 52 week high of $7.83.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Monday, May 6th. The mining company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. The business had revenue of $292.30 million during the quarter, compared to the consensus estimate of $314.70 million. Hudbay Minerals had a return on equity of 3.07% and a net margin of 2.22%. The business’s revenue for the quarter was down 24.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 earnings per share. On average, research analysts anticipate that Hudbay Minerals Inc will post 0.19 earnings per share for the current fiscal year.

WARNING: “ETF Managers Group LLC Trims Position in Hudbay Minerals Inc (HBM)” was originally reported by Watch List News and is owned by of Watch List News. If you are viewing this piece on another site, it was copied illegally and republished in violation of US & international copyright & trademark law. The correct version of this piece can be accessed at https://www.watchlistnews.com/etf-managers-group-llc-trims-position-in-hudbay-minerals-inc-hbm/3016456.html.

About Hudbay Minerals

Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.

Featured Article: Growth Stocks, What They Are, What They Are Not

Want to see what other hedge funds are holding HBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM).

Institutional Ownership by Quarter for Hudbay Minerals (NYSE:HBM)

Receive News & Ratings for Hudbay Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudbay Minerals and related companies with MarketBeat.com's FREE daily email newsletter.