Swiss National Bank Decreases Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Swiss National Bank cut its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 773,800 shares of the mining company’s stock after selling 5,500 shares during the quarter. Swiss National Bank owned 0.20% of Hudbay Minerals worth $7,129,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Hudbay Minerals by 3.2% during 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 in the last quarter. Donald Smith & CO. Inc. increased its stake in shares of Hudbay Minerals by 31.9% in the third quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company’s stock worth $34,451,000 after buying an additional 906,417 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Hudbay Minerals by 24.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,545,340 shares of the mining company’s stock worth $32,084,000 after buying an additional 702,170 shares during the period. TD Asset Management Inc increased its stake in shares of Hudbay Minerals by 199.4% in the second quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock worth $26,294,000 after buying an additional 1,935,709 shares during the period. Finally, Regal Partners Ltd increased its stake in shares of Hudbay Minerals by 5.4% in the third quarter. Regal Partners Ltd now owns 2,673,518 shares of the mining company’s stock worth $24,570,000 after buying an additional 136,943 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on HBM. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Stock Performance

NYSE:HBM opened at $9.04 on Tuesday. The stock has a market cap of $3.56 billion, a P/E ratio of 39.30 and a beta of 1.78. The firm’s fifty day simple moving average is $9.03 and its 200 day simple moving average is $8.70. Hudbay Minerals Inc. has a twelve month low of $4.34 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.

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 the consensus estimate of $0.04 by $0.09. The business had revenue of $485.80 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 earnings per share. As a group, research analysts predict that Hudbay Minerals Inc. will post 0.53 EPS for the current 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.