CIBC Asset Management Inc Sells 5,464 Shares of Hudbay Minerals Inc. (NYSE:HBM)

CIBC Asset Management Inc decreased its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 1.1% during the third quarter, Holdings Channel reports. The firm owned 483,039 shares of the mining company’s stock after selling 5,464 shares during the quarter. CIBC Asset Management Inc’s holdings in Hudbay Minerals were worth $4,445,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Regal Partners Ltd lifted its holdings in shares of Hudbay Minerals by 5.4% during the 3rd quarter. Regal Partners Ltd now owns 2,673,518 shares of the mining company’s stock valued at $24,570,000 after buying an additional 136,943 shares during the period. MQS Management LLC boosted its position in Hudbay Minerals by 8.2% in the third quarter. MQS Management LLC now owns 34,231 shares of the mining company’s stock worth $315,000 after purchasing an additional 2,592 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Hudbay Minerals during the 3rd quarter valued at about $587,000. Meritage Portfolio Management purchased a new stake in shares of Hudbay Minerals during the 3rd quarter valued at about $6,743,000. Finally, CWA Asset Management Group LLC bought a new position in shares of Hudbay Minerals in the 3rd quarter worth approximately $527,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Price Performance

Shares of Hudbay Minerals stock opened at $8.89 on Tuesday. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 38.63 and a beta of 1.78. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.47. The stock’s 50-day simple moving average is $8.84 and its 200-day simple moving average is $8.68. Hudbay Minerals Inc. has a 52 week low of $4.30 and a 52 week high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. Hudbay Minerals had a return on equity of 7.68% and a net margin of 4.23%. The company had revenue of $485.80 million for the quarter, compared to analysts’ expectations of $454.47 million. During the same period in the previous year, the firm earned $0.07 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. As a group, analysts expect that Hudbay Minerals Inc. will post 0.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HBM has been the subject of a number of research reports. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Company 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.