MML Investors Services LLC Purchases New Stake in Hudbay Minerals Inc. (NYSE:HBM)

MML Investors Services LLC acquired a new position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,574 shares of the mining company’s stock, valued at approximately $226,000.

Several other large investors have also recently bought and sold shares of the business. Cinctive Capital Management LP grew its stake in shares of Hudbay Minerals by 39.7% during the 3rd quarter. Cinctive Capital Management LP now owns 410,669 shares of the mining company’s stock worth $3,777,000 after purchasing an additional 116,732 shares during the period. Bank of Montreal Can boosted its holdings in Hudbay Minerals by 23.1% during the third quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock worth $71,308,000 after buying an additional 1,441,991 shares in the last quarter. Artemis Investment Management LLP acquired a new position in Hudbay Minerals during the third quarter worth about $20,907,000. Driehaus Capital Management LLC acquired a new position in Hudbay Minerals during the second quarter worth about $14,718,000. Finally, Mountaineer Partners Management LLC increased its holdings in Hudbay Minerals by 792.5% in the third quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock valued at $94,874,000 after buying an additional 9,166,952 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $11.17.

Hudbay Minerals Price Performance

Hudbay Minerals stock opened at $8.28 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The firm’s 50-day simple moving average is $8.94 and its 200 day simple moving average is $8.57. Hudbay Minerals Inc. has a 52 week low of $4.94 and a 52 week high of $10.49. The firm has a market capitalization of $3.26 billion, a PE ratio of 36.00 and a beta of 1.77.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $454.47 million. During the same quarter in the prior year, the firm earned $0.07 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities research analysts predict that Hudbay Minerals Inc. will post 0.55 EPS for the current fiscal year.

About Hudbay Minerals

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.