Hudbay Minerals Inc. (NYSE:HBM) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC trimmed its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 62.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,450 shares of the mining company’s stock after selling 29,422 shares during the quarter. Metis Global Partners LLC’s holdings in Hudbay Minerals were worth $161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of HBM. Exchange Traded Concepts LLC acquired a new stake in shares of Hudbay Minerals during the third quarter worth $53,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Hudbay Minerals in the third quarter valued at about $92,000. Ritholtz Wealth Management acquired a new position in shares of Hudbay Minerals during the second quarter worth about $96,000. Armistice Capital LLC purchased a new position in Hudbay Minerals during the second quarter worth about $97,000. Finally, Liontrust Investment Partners LLP acquired a new stake in Hudbay Minerals in the second quarter valued at about $100,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Hudbay Minerals Trading Up 2.6 %

Shares of HBM stock opened at $9.11 on Wednesday. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 39.61 and a beta of 1.78. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $8.88 and a 200 day moving average price of $8.69. Hudbay Minerals Inc. has a twelve month low of $4.30 and a twelve month high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data 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 business had revenue of $485.80 million during the quarter, compared to analyst estimates of $454.47 million. During the same quarter in the previous year, the business posted $0.07 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. Research analysts forecast that Hudbay Minerals Inc. will post 0.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on HBM shares. Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $11.17.

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.