Barclays PLC Boosts Stock Position in Hudbay Minerals Inc. (NYSE:HBM)

Barclays PLC raised its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 2,414.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,475 shares of the mining company’s stock after purchasing an additional 83,036 shares during the quarter. Barclays PLC’s holdings in Hudbay Minerals were worth $795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in HBM. Prospera Private Wealth LLC purchased a new position in shares of Hudbay Minerals in the 3rd quarter worth about $28,000. Exchange Traded Concepts LLC bought a new stake in Hudbay Minerals in the third quarter worth about $53,000. Clear Harbor Asset Management LLC bought a new stake in Hudbay Minerals in the third quarter worth about $92,000. Ritholtz Wealth Management purchased a new position in Hudbay Minerals in the second quarter valued at about $96,000. Finally, Armistice Capital LLC bought a new position in shares of Hudbay Minerals during the 2nd quarter valued at approximately $97,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Price Performance

NYSE HBM opened at $8.10 on Wednesday. The firm’s 50-day simple moving average is $8.88 and its two-hundred day simple moving average is $8.55. Hudbay Minerals Inc. has a 52 week low of $4.94 and a 52 week high of $10.49. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The company has a market cap of $3.19 billion, a PE ratio of 35.22 and a beta of 1.77.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $454.47 million. During the same period last year, the firm earned $0.07 EPS. Hudbay Minerals’s revenue for the quarter was up 1.1% on a year-over-year basis. Research analysts predict that Hudbay Minerals Inc. will post 0.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Hudbay Minerals presently has an average rating of “Buy” and an average 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.