UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 19.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 411,743 shares of the mining company's stock after selling 97,495 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.10% of Hudbay Minerals worth $3,335,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Tower Research Capital LLC TRC increased its holdings in shares of Hudbay Minerals by 9,877.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock worth $25,000 after buying an additional 3,062 shares in the last quarter. Algert Global LLC acquired a new stake in Hudbay Minerals during the 4th quarter valued at $86,000. Plato Investment Management Ltd acquired a new stake in Hudbay Minerals during the 4th quarter valued at $95,000. Hsbc Holdings PLC bought a new position in Hudbay Minerals in the 4th quarter valued at $97,000. Finally, Advisory Services Network LLC acquired a new position in Hudbay Minerals in the fourth quarter worth $101,000. 57.82% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. BMO Capital Markets assumed coverage on Hudbay Minerals in a research note on Wednesday, April 16th. They issued an "outperform" rating for the company. Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. Wall Street Zen raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Scotiabank reissued an "outperform" rating on shares of Hudbay Minerals in a research note on Tuesday, May 13th. Finally, Desjardins started coverage on shares of Hudbay Minerals in a report 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $14.00.
Check Out Our Latest Analysis on HBM
Hudbay Minerals Trading Up 1.7%
Shares of HBM traded up $0.17 during trading hours on Monday, hitting $9.79. 6,319,695 shares of the stock traded hands, compared to its average volume of 5,085,710. The business has a fifty day moving average of $7.79 and a 200-day moving average of $8.13. The firm has a market capitalization of $3.87 billion, a PE ratio of 54.36 and a beta of 1.60. Hudbay Minerals Inc. has a 1-year low of $5.95 and a 1-year high of $9.86. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44.
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 (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.14. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. 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 prior year, the company posted $0.22 EPS. The company's revenue was up 13.3% compared to the same quarter last year. Analysts expect that Hudbay Minerals Inc. will post 0.79 EPS for the current year.
Hudbay Minerals Profile
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Free Report)
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.
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