45,970 Shares in Hudbay Minerals Inc. (NYSE:HBM) Purchased by HighTower Advisors LLC

HighTower Advisors LLC acquired a new stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 45,970 shares of the mining company’s stock, valued at approximately $413,000.

Other institutional investors have also bought and sold shares of the company. Liontrust Investment Partners LLP acquired a new stake in shares of Hudbay Minerals in the second quarter valued at approximately $100,000. K.J. Harrison & Partners Inc purchased a new position in shares of Hudbay Minerals during the 2nd quarter worth $773,000. Galibier Capital Management Ltd. boosted its position in shares of Hudbay Minerals by 13.7% during the 2nd quarter. Galibier Capital Management Ltd. now owns 2,046,150 shares of the mining company’s stock valued at $18,512,000 after acquiring an additional 247,002 shares during the last quarter. Bfsg LLC purchased a new stake in shares of Hudbay Minerals in the second quarter valued at about $801,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Hudbay Minerals by 4.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company’s stock worth $674,000 after purchasing an additional 2,905 shares during the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Stock Performance

NYSE HBM opened at $8.24 on Friday. The stock has a fifty day simple moving average of $9.00 and a 200-day simple moving average of $8.59. 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 stock has a market cap of $3.25 billion, a PE ratio of 35.83 and a beta of 1.77. Hudbay Minerals Inc. has a twelve month low of $4.94 and a twelve month high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.09. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The company had revenue of $485.80 million during the quarter, compared to analyst estimates of $454.47 million. During the same quarter last year, the firm posted $0.07 earnings per share. Hudbay Minerals’s revenue was up 1.1% compared to the same quarter last year. Equities analysts anticipate that Hudbay Minerals Inc. will post 0.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Hudbay Minerals presently has a consensus rating of “Buy” and an average 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.