Mackenzie Financial Corp Sells 854,747 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Mackenzie Financial Corp cut its holdings in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 17.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,079,147 shares of the mining company's stock after selling 854,747 shares during the quarter. Mackenzie Financial Corp owned 1.03% of Hudbay Minerals worth $33,053,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of HBM. Tower Research Capital LLC TRC increased its stake in Hudbay Minerals by 9,877.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock valued at $25,000 after purchasing an additional 3,062 shares during the last quarter. Algert Global LLC acquired a new stake in Hudbay Minerals during the fourth quarter valued at approximately $86,000. Plato Investment Management Ltd acquired a new stake in Hudbay Minerals during the fourth quarter valued at approximately $95,000. Hsbc Holdings PLC acquired a new stake in Hudbay Minerals during the fourth quarter valued at approximately $97,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Hudbay Minerals during the 4th quarter worth approximately $101,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Desjardins began coverage on Hudbay Minerals in a report on Friday, April 4th. They issued a "buy" rating for the company. BMO Capital Markets began coverage on Hudbay Minerals in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. Wall Street Zen upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Scotiabank reiterated an "outperform" rating on shares of Hudbay Minerals in a report on Tuesday, May 13th. Finally, Stifel Canada upgraded Hudbay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $14.00.

Hudbay Minerals Trading Up 0.3%

HBM stock traded up $0.03 during trading on Wednesday, hitting $9.02. The company had a trading volume of 7,441,583 shares, compared to its average volume of 4,902,380. The firm has a 50-day moving average price of $7.58 and a 200-day moving average price of $8.11. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. Hudbay Minerals Inc. has a 12 month low of $5.95 and a 12 month high of $9.92. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 50.11 and a beta of 1.56.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings data on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.10 by $0.14. The business had revenue of $594.90 million for the quarter, compared to analysts' expectations of $537.36 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The firm's revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. As a group, analysts predict that Hudbay Minerals Inc. will post 0.79 earnings per share for the current year.

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.