BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Stock Position in Hudbay Minerals Inc. (NYSE:HBM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 6.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,167,063 shares of the mining company’s stock after selling 77,129 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Hudbay Minerals were worth $10,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Maverick Capital Ltd. lifted its position in shares of Hudbay Minerals by 45.1% during the third quarter. Maverick Capital Ltd. now owns 271,139 shares of the mining company’s stock worth $2,492,000 after acquiring an additional 84,240 shares in the last quarter. PDT Partners LLC lifted its position in shares of Hudbay Minerals by 32.0% during the third quarter. PDT Partners LLC now owns 194,382 shares of the mining company’s stock worth $1,786,000 after acquiring an additional 47,155 shares in the last quarter. Verition Fund Management LLC lifted its position in shares of Hudbay Minerals by 106.8% during the third quarter. Verition Fund Management LLC now owns 2,585,032 shares of the mining company’s stock worth $23,756,000 after acquiring an additional 1,334,969 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its position in shares of Hudbay Minerals by 0.8% during the third quarter. Northwest & Ethical Investments L.P. now owns 197,289 shares of the mining company’s stock worth $1,815,000 after acquiring an additional 1,487 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Hudbay Minerals by 20.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,804 shares of the mining company’s stock worth $827,000 after acquiring an additional 15,258 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Trading Up 1.9 %

NYSE HBM opened at $8.94 on Monday. The stock’s 50-day simple moving average is $9.12 and its two-hundred day simple moving average is $8.70. Hudbay Minerals Inc. has a twelve month low of $4.41 and a twelve month high of $10.49. 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 company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 38.87 and a beta of 1.78.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The business had revenue of $485.80 million for the quarter, compared to the consensus estimate of $454.47 million. During the same quarter last year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. Research analysts forecast that Hudbay Minerals Inc. will post 0.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Hudbay Minerals currently has a consensus rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals 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.