Quadrature Capital Ltd Sells 378,000 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Quadrature Capital Ltd lessened its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 83.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,500 shares of the mining company’s stock after selling 378,000 shares during the period. Quadrature Capital Ltd’s holdings in Hudbay Minerals were worth $423,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bank of Nova Scotia grew its position in Hudbay Minerals by 19.1% in the 3rd quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock worth $121,000 after purchasing an additional 3,979 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Hudbay Minerals in the 4th quarter worth approximately $186,000. Aigen Investment Management LP bought a new stake in Hudbay Minerals in the 3rd quarter worth approximately $195,000. Barclays PLC grew its position in Hudbay Minerals by 7.1% in the 3rd quarter. Barclays PLC now owns 63,154 shares of the mining company’s stock worth $308,000 after purchasing an additional 4,169 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Hudbay Minerals by 6.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,641 shares of the mining company’s stock worth $396,000 after purchasing an additional 4,655 shares during the period. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Stock Down 0.8 %

HBM opened at $8.81 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.00 and a current ratio of 1.40. Hudbay Minerals Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $10.49. The firm’s fifty day moving average is $8.90 and its 200 day moving average is $6.97. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 38.30 and a beta of 1.83.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Tuesday, May 14th. The mining company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.13. Hudbay Minerals had a net margin of 4.36% and a return on equity of 6.22%. The company had revenue of $524.99 million for the quarter, compared to analysts’ expectations of $463.69 million. On average, sell-side analysts forecast that Hudbay Minerals Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HBM has been the subject of a number of recent research reports. Raymond James boosted their price objective on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Jefferies Financial Group initiated coverage on shares of Hudbay Minerals in a research report on Friday, May 3rd. They set a “hold” rating and a $13.00 price objective for the company. National Bank Financial raised shares of Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 14th. Stifel Nicolaus initiated coverage on shares of Hudbay Minerals in a research report on Tuesday, March 26th. They set a “buy” rating for the company. Finally, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $10.21.

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.