Nuveen Asset Management LLC Has $9.83 Million Stock Position in Hudbay Minerals Inc. (NYSE:HBM)

Nuveen Asset Management LLC cut its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 17.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,212,022 shares of the mining company's stock after selling 263,276 shares during the quarter. Nuveen Asset Management LLC owned about 0.31% of Hudbay Minerals worth $9,826,000 as of its most recent SEC filing.

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

Hudbay Minerals Price Performance

Shares of NYSE:HBM traded down $0.13 during trading on Friday, reaching $8.92. 8,531,023 shares of the company traded hands, compared to its average volume of 4,946,367. The company's 50 day moving average is $7.62 and its two-hundred day moving average is $8.12. The firm has a market capitalization of $3.52 billion, a PE ratio of 49.56 and a beta of 1.56. 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 52 week low of $5.95 and a 52 week high of $9.89.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Stifel Canada upgraded Hudbay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. Scotiabank restated an "outperform" rating on shares of Hudbay Minerals in a research note on Tuesday, May 13th. BMO Capital Markets assumed coverage on Hudbay Minerals in a research note 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 research note on Thursday, May 22nd. Finally, Desjardins assumed coverage on Hudbay Minerals in a research note on Friday, April 4th. They issued a "buy" rating for the company. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $14.00.

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.