Usca Ria LLC Increases Position in Hudbay Minerals Inc (HBM)

Usca Ria LLC boosted its position in shares of Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) by 38.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,029 shares of the mining company’s stock after buying an additional 18,755 shares during the quarter. Usca Ria LLC’s holdings in Hudbay Minerals were worth $344,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HBM. Jennison Associates LLC bought a new position in Hudbay Minerals during the second quarter valued at about $8,944,000. Allianz Asset Management GmbH boosted its stake in Hudbay Minerals by 32.1% during the first quarter. Allianz Asset Management GmbH now owns 4,306,119 shares of the mining company’s stock valued at $30,461,000 after buying an additional 1,047,011 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Hudbay Minerals by 225.0% during the second quarter. Renaissance Technologies LLC now owns 1,405,822 shares of the mining company’s stock valued at $7,861,000 after buying an additional 973,222 shares in the last quarter. Intact Investment Management Inc. boosted its stake in Hudbay Minerals by 522.7% during the third quarter. Intact Investment Management Inc. now owns 1,133,300 shares of the mining company’s stock valued at $7,378,000 after buying an additional 951,300 shares in the last quarter. Finally, Cumberland Partners Ltd bought a new position in Hudbay Minerals during the second quarter valued at about $4,405,000. 58.36% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently weighed in on HBM shares. Bank of America started coverage on Hudbay Minerals in a research note on Tuesday, August 14th. They set a “neutral” rating and a $6.00 target price for the company. ValuEngine raised Hudbay Minerals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 7th. Credit Suisse Group reiterated a “neutral” rating on shares of Hudbay Minerals in a research report on Monday, September 10th. Zacks Investment Research upgraded Hudbay Minerals from a “sell” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, Barclays began coverage on Hudbay Minerals in a research report on Wednesday, October 10th. They issued an “overweight” rating and a $8.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $8.33.

Shares of Hudbay Minerals stock opened at $5.04 on Friday. The stock has a market capitalization of $1.29 billion, a P/E ratio of 8.84 and a beta of 2.96. 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 1 year low of $3.44 and a 1 year high of $10.25.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, October 31st. The mining company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.07. The firm had revenue of $362.65 million during the quarter, compared to the consensus estimate of $305.36 million. Hudbay Minerals had a return on equity of 7.26% and a net margin of 12.29%. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 EPS. On average, research analysts forecast that Hudbay Minerals Inc will post 0.36 earnings per share for the current year.

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

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