CIBC Asset Management Inc Sells 5,464 Shares of Hudbay Minerals Inc. (NYSE:HBM)

CIBC Asset Management Inc reduced its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 483,039 shares of the mining company’s stock after selling 5,464 shares during the period. CIBC Asset Management Inc owned 0.12% of Hudbay Minerals worth $4,445,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of HBM. Exchange Traded Concepts LLC purchased a new position in shares of Hudbay Minerals during the 3rd quarter worth approximately $53,000. Clear Harbor Asset Management LLC bought a new stake in shares of Hudbay Minerals during the third quarter valued at approximately $92,000. Ritholtz Wealth Management purchased a new stake in Hudbay Minerals in the second quarter worth $96,000. Armistice Capital LLC bought a new position in Hudbay Minerals in the second quarter worth $97,000. Finally, Liontrust Investment Partners LLP purchased a new position in Hudbay Minerals during the second quarter valued at $100,000. 57.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HBM has been the subject of several research reports. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday. Finally, Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Five equities 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.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals Stock Up 4.3 %

NYSE:HBM opened at $8.89 on Tuesday. The firm has a 50-day simple moving average of $8.84 and a two-hundred day simple moving average of $8.68. The firm has a market cap of $3.50 billion, a P/E ratio of 38.63 and a beta of 1.78. Hudbay Minerals Inc. has a fifty-two week low of $4.30 and a fifty-two week high of $10.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.86.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. The company had revenue of $485.80 million during the quarter, compared to analyst estimates of $454.47 million. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.68%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.07 EPS. Analysts predict that Hudbay Minerals Inc. will post 0.49 earnings per share 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.