Hudbay Minerals Inc. (NYSE:HBM) Shares Purchased by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. grew its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 0.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 197,289 shares of the mining company’s stock after buying an additional 1,487 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Hudbay Minerals were worth $1,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of HBM. Prospera Private Wealth LLC purchased a new stake in Hudbay Minerals during the 3rd quarter worth about $28,000. Exchange Traded Concepts LLC purchased a new stake in shares of Hudbay Minerals in the 3rd quarter valued at about $53,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Hudbay Minerals in the 3rd quarter valued at about $92,000. Ritholtz Wealth Management purchased a new stake in shares of Hudbay Minerals in the 2nd quarter valued at about $96,000. Finally, Armistice Capital LLC purchased a new stake in shares of Hudbay Minerals in the 2nd quarter valued at about $97,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Stock Performance

NYSE HBM opened at $8.94 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $9.09 and its two-hundred day moving average is $8.70. Hudbay Minerals Inc. has a 12-month low of $4.41 and a 12-month high of $10.49. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 38.87 and a beta of 1.78.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. The business had revenue of $485.80 million for 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 was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 EPS. Research analysts expect that Hudbay Minerals Inc. will post 0.55 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Jefferies Financial Group raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. StockNews.com upgraded 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 given a strong buy rating to the company. According to data from MarketBeat, Hudbay Minerals currently has a consensus rating of “Buy” and an average target price 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.