James Investment Research Inc. lessened its holdings in shares of Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) by 92.4% in the third quarter, HoldingsChannel.com reports. The firm owned 32,367 shares of the mining company’s stock after selling 392,539 shares during the period. James Investment Research Inc.’s holdings in Hudbay Minerals were worth $164,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Regal Investment Advisors LLC bought a new position in Hudbay Minerals during the second quarter worth about $139,000. BlackRock Inc. boosted its position in Hudbay Minerals by 131.1% during the second quarter. BlackRock Inc. now owns 35,456 shares of the mining company’s stock worth $199,000 after purchasing an additional 20,113 shares during the period. Quantitative Systematic Strategies LLC bought a new position in Hudbay Minerals during the second quarter worth about $228,000. Jane Street Group LLC bought a new position in Hudbay Minerals during the first quarter worth about $344,000. Finally, Covalis Capital LLP bought a new position in Hudbay Minerals during the second quarter worth about $329,000. Hedge funds and other institutional investors own 58.36% of the company’s stock.
HBM stock opened at $4.85 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.98. Hudbay Minerals Inc has a 12 month low of $3.44 and a 12 month high of $10.25. The company has a market capitalization of $1.32 billion, a PE ratio of 8.28 and a beta of 2.96.
Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, October 31st. The mining company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. Hudbay Minerals had a net margin of 12.29% and a return on equity of 7.26%. The company had revenue of $362.65 million during the quarter, compared to analyst estimates of $305.36 million. During the same period last year, the business earned $0.17 earnings per share. Hudbay Minerals’s revenue was down 4.6% compared to the same quarter last year. Equities research analysts predict that Hudbay Minerals Inc will post 0.29 EPS for the current year.
HBM has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Hudbay Minerals from a “sell” rating to a “hold” rating in a research report on Monday, July 23rd. Credit Suisse Group restated a “neutral” rating on shares of Hudbay Minerals in a research report on Monday, September 10th. ValuEngine upgraded shares of Hudbay Minerals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 7th. Barclays began coverage on shares of Hudbay Minerals in a research report on Wednesday, October 10th. They issued an “overweight” rating and a $8.00 price objective for the company. Finally, Raymond James restated a “buy” rating on shares of Hudbay Minerals in a research report on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Hudbay Minerals currently has a consensus rating of “Hold” and a consensus target price of $8.33.
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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 four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, the United States.
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