Barclays PLC Acquires 83,036 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Barclays PLC raised its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 2,414.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,475 shares of the mining company’s stock after buying an additional 83,036 shares during the period. Barclays PLC’s holdings in Hudbay Minerals were worth $795,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new position in shares of Hudbay Minerals in the third quarter valued at $28,000. Exchange Traded Concepts LLC bought a new position in shares of Hudbay Minerals in the third quarter valued at $53,000. Clear Harbor Asset Management LLC bought a new position in shares of Hudbay Minerals in the third quarter valued at $92,000. Armistice Capital LLC bought a new position in shares of Hudbay Minerals in the second quarter valued at $97,000. Finally, First Affirmative Financial Network bought a new position in shares of Hudbay Minerals in the third quarter valued at $103,000. 57.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $11.17.

Hudbay Minerals Price Performance

HBM opened at $8.77 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The company’s 50-day moving average is $8.71 and its 200 day moving average is $8.53. Hudbay Minerals Inc. has a fifty-two week low of $4.94 and a fifty-two week high of $10.49. The firm has a market capitalization of $3.45 billion, a P/E ratio of 38.13 and a beta of 1.76.

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 analysts’ consensus estimates of $0.04 by $0.09. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The company had revenue of $485.80 million for the quarter, compared to analyst estimates of $454.47 million. During the same period last year, the firm earned $0.07 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. Research analysts expect that Hudbay Minerals Inc. will post 0.55 earnings per share for the current fiscal 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.