Hudbay Minerals Inc. (NYSE:HBM) Stock Holdings Lifted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 9.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,346,659 shares of the mining company’s stock after acquiring an additional 117,275 shares during the period. The Manufacturers Life Insurance Company owned about 0.34% of Hudbay Minerals worth $12,395,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Hudbay Minerals by 3.2% in the first quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock worth $60,861,000 after buying an additional 272,635 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Hudbay Minerals by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 458,347 shares of the mining company’s stock valued at $3,209,000 after purchasing an additional 50,126 shares during the last quarter. Strong Tower Advisory Services acquired a new position in shares of Hudbay Minerals during the 2nd quarter worth about $518,000. Blue Trust Inc. boosted its stake in Hudbay Minerals by 60,870.8% during the 2nd quarter. Blue Trust Inc. now owns 14,633 shares of the mining company’s stock valued at $132,000 after purchasing an additional 14,609 shares during the period. Finally, Liontrust Investment Partners LLP acquired a new stake in Hudbay Minerals in the 2nd quarter valued at approximately $100,000. 57.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HBM. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Price Performance

Shares of HBM stock opened at $8.76 on Tuesday. Hudbay Minerals Inc. has a 12 month low of $4.51 and a 12 month high of $10.49. The company has a market capitalization of $3.45 billion, a P/E ratio of 38.07 and a beta of 1.78. The stock has a 50 day moving average of $9.12 and a two-hundred day moving average of $8.69. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.04 by $0.09. The firm had revenue of $485.80 million during 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%. Hudbay Minerals’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $0.07 earnings per share. As a group, equities analysts expect that Hudbay Minerals Inc. will post 0.55 EPS for the current year.

Hudbay Minerals Profile

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.