Prospera Private Wealth LLC Makes New Investment in Hudbay Minerals Inc. (NYSE:HBM)

Prospera Private Wealth LLC purchased a new position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,000 shares of the mining company’s stock, valued at approximately $28,000.

Other hedge funds have also modified their holdings of the company. Van ECK Associates Corp boosted its stake in shares of Hudbay Minerals by 0.4% in the third quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company’s stock valued at $4,213,000 after purchasing an additional 1,960 shares during the period. MQS Management LLC raised its stake in shares of Hudbay Minerals by 8.2% during the third quarter. MQS Management LLC now owns 34,231 shares of the mining company’s stock worth $315,000 after purchasing an additional 2,592 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Hudbay Minerals by 4.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company’s stock valued at $674,000 after purchasing an additional 2,905 shares in the last quarter. Signaturefd LLC grew its stake in shares of Hudbay Minerals by 8.1% during the 3rd quarter. Signaturefd LLC now owns 46,555 shares of the mining company’s stock worth $428,000 after purchasing an additional 3,474 shares during the period. Finally, Ballentine Partners LLC raised its stake in shares of Hudbay Minerals by 32.7% during the 2nd quarter. Ballentine Partners LLC now owns 16,171 shares of the mining company’s stock worth $146,000 after buying an additional 3,983 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Trading Down 0.1 %

Shares of Hudbay Minerals stock opened at $9.12 on Friday. The company has a 50-day simple moving average of $9.00 and a 200 day simple moving average of $8.70. 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 $4.34 and a 12-month high of $10.49. The stock has a market capitalization of $3.59 billion, a P/E ratio of 39.65 and a beta of 1.78.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. The business had revenue of $485.80 million for the quarter, compared to analyst estimates of $454.47 million. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. Hudbay Minerals’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 EPS. Research analysts expect that Hudbay Minerals Inc. will post 0.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HBM. Jefferies Financial Group raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Five research 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, Hudbay Minerals presently 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.