Quantbot Technologies LP Has $1.14 Million Stake in Hudbay Minerals Inc. (NYSE:HBM)

Quantbot Technologies LP trimmed its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 22.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,313 shares of the mining company’s stock after selling 46,621 shares during the period. Quantbot Technologies LP’s holdings in Hudbay Minerals were worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC raised its position in shares of Hudbay Minerals by 10.6% in the fourth quarter. Jennison Associates LLC now owns 1,464,679 shares of the mining company’s stock valued at $8,059,000 after buying an additional 140,312 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Hudbay Minerals by 28.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock valued at $51,836,000 after acquiring an additional 2,085,641 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Hudbay Minerals by 122,794.2% in the fourth quarter. BNP Paribas Financial Markets now owns 126,581 shares of the mining company’s stock valued at $699,000 after acquiring an additional 126,478 shares during the last quarter. Galibier Capital Management Ltd. bought a new position in Hudbay Minerals in the first quarter valued at approximately $12,604,000. Finally, Orchard Capital Management LLC bought a new position in Hudbay Minerals in the fourth quarter valued at approximately $3,713,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Hudbay Minerals from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Friday. Stifel Nicolaus initiated coverage on shares of Hudbay Minerals in a research note on Tuesday, March 26th. They set a “buy” rating on the stock. Bank of America raised shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Tuesday, April 9th. National Bank Financial upgraded shares of Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 14th. Finally, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $10.36.

Hudbay Minerals Price Performance

HBM stock opened at $9.38 on Friday. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 40.78 and a beta of 1.82. The company has a quick ratio of 1.00, a current ratio of 1.40 and a debt-to-equity ratio of 0.61. Hudbay Minerals Inc. has a 12-month low of $3.94 and a 12-month high of $10.49. The company’s fifty day simple moving average is $9.27 and its 200 day simple moving average is $7.37.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Tuesday, May 14th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.13. The business had revenue of $524.99 million for the quarter, compared to analyst estimates of $463.69 million. Hudbay Minerals had a net margin of 4.36% and a return on equity of 6.22%. On average, analysts expect that Hudbay Minerals Inc. will post 0.6 earnings per share for the current year.

About Hudbay Minerals

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.