Hudbay Minerals Inc. (NYSE:HBM) Shares Purchased by Cinctive Capital Management LP

Cinctive Capital Management LP increased its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 39.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 410,669 shares of the mining company’s stock after purchasing an additional 116,732 shares during the period. Cinctive Capital Management LP’s holdings in Hudbay Minerals were worth $3,777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in HBM. Maverick Capital Ltd. lifted its stake 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 purchasing an additional 84,240 shares in the last quarter. PDT Partners LLC raised its holdings in shares of Hudbay Minerals by 32.0% during the 3rd quarter. PDT Partners LLC now owns 194,382 shares of the mining company’s stock valued at $1,786,000 after buying an additional 47,155 shares during the period. Verition Fund Management LLC lifted its position in Hudbay Minerals by 106.8% during the 3rd 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. boosted its holdings in Hudbay Minerals by 0.8% in the 3rd 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 during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Hudbay Minerals by 20.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,804 shares of the mining company’s stock valued at $827,000 after acquiring an additional 15,258 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Hudbay Minerals Stock Performance

Hudbay Minerals stock opened at $8.76 on Tuesday. Hudbay Minerals Inc. has a 52 week low of $4.51 and a 52 week high of $10.49. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The stock has a market cap of $3.45 billion, a P/E ratio of 38.07 and a beta of 1.77. The stock has a 50 day moving average of $9.12 and a 200-day moving average of $8.69.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. The firm had revenue of $485.80 million for the quarter, compared to the consensus estimate of $454.47 million. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 EPS. On average, analysts expect that Hudbay Minerals Inc. will post 0.55 EPS for the current fiscal year.

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.