Polar Asset Management Partners Inc. Raises Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Polar Asset Management Partners Inc. increased its stake in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 121.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,694,700 shares of the mining company's stock after buying an additional 930,300 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.43% of Hudbay Minerals worth $13,550,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research firms have issued reports on HBM. Scotiabank reiterated an "outperform" rating on shares of Hudbay Minerals in a research report on Tuesday, May 13th. Stifel Canada raised Hudbay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. Desjardins assumed coverage on Hudbay Minerals in a research report on Friday, April 4th. They issued a "buy" rating for the company. BMO Capital Markets started coverage on Hudbay Minerals in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. Finally, Wall Street Zen raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $14.00.

Hudbay Minerals Price Performance

Shares of HBM traded up $0.03 on Wednesday, reaching $9.02. The stock had a trading volume of 7,441,583 shares, compared to its average volume of 4,902,380. Hudbay Minerals Inc. has a twelve month low of $5.95 and a twelve month high of $9.92. The firm has a market capitalization of $3.56 billion, a PE ratio of 50.11 and a beta of 1.56. The firm has a 50-day moving average of $7.58 and a 200 day moving average 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 (NYSE:HBM - Get Free Report) TSE: HBM last posted its earnings results on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.14. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The company had revenue of $594.90 million for the quarter, compared to the consensus estimate of $537.36 million. During the same period in the previous year, the business earned $0.22 earnings per share. Hudbay Minerals's quarterly revenue was up 13.3% compared to the same quarter last year. Sell-side analysts expect that Hudbay Minerals Inc. will post 0.79 EPS 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.