Metis Global Partners LLC Cuts Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Metis Global Partners LLC lessened its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 62.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 17,450 shares of the mining company’s stock after selling 29,422 shares during the quarter. Metis Global Partners LLC’s holdings in Hudbay Minerals were worth $161,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Hudbay Minerals by 3.2% in the first quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock worth $60,861,000 after acquiring an additional 272,635 shares during the last quarter. Boston Partners lifted its position in shares of Hudbay Minerals by 29.1% during the 1st quarter. Boston Partners now owns 552,226 shares of the mining company’s stock worth $3,866,000 after purchasing an additional 124,376 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Hudbay Minerals by 88.8% during the first quarter. Russell Investments Group Ltd. now owns 281,015 shares of the mining company’s stock worth $1,969,000 after purchasing an additional 132,142 shares in the last quarter. Artemis Investment Management LLP purchased a new position in Hudbay Minerals in the third quarter valued at $20,907,000. Finally, Driehaus Capital Management LLC acquired a new stake in Hudbay Minerals in the second quarter valued at $14,718,000. 57.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports 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 raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Stock Performance

Shares of HBM stock opened at $9.11 on Wednesday. Hudbay Minerals Inc. has a 1 year low of $4.30 and a 1 year high of $10.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 39.61 and a beta of 1.78. The stock’s 50-day moving average is $8.88 and its two-hundred day moving average is $8.69.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.04 by $0.09. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The company had revenue of $485.80 million for the quarter, compared to analyst estimates of $454.47 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. Analysts predict that Hudbay Minerals Inc. will post 0.49 earnings per share 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.