Geode Capital Management LLC Has $1.70 Million Stake in Hudbay Minerals Inc. (NYSE:HBM)

Geode Capital Management LLC raised its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 4.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 183,967 shares of the mining company’s stock after purchasing an additional 8,664 shares during the period. Geode Capital Management LLC’s holdings in Hudbay Minerals were worth $1,700,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ballentine Partners LLC grew its position in Hudbay Minerals by 32.7% during the second quarter. Ballentine Partners LLC now owns 16,171 shares of the mining company’s stock worth $146,000 after buying an additional 3,983 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Hudbay Minerals by 239.3% during the 2nd quarter. American Century Companies Inc. now owns 2,044,720 shares of the mining company’s stock valued at $18,503,000 after acquiring an additional 1,442,140 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Hudbay Minerals by 24.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,545,340 shares of the mining company’s stock worth $32,084,000 after purchasing an additional 702,170 shares in the last quarter. Quantbot Technologies LP increased its position in shares of Hudbay Minerals by 79.5% in the second quarter. Quantbot Technologies LP now owns 293,110 shares of the mining company’s stock worth $2,653,000 after purchasing an additional 129,797 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Hudbay Minerals by 32.3% in the second quarter. Renaissance Technologies LLC now owns 1,499,409 shares of the mining company’s stock valued at $13,570,000 after purchasing an additional 366,300 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Hudbay Minerals currently has a consensus rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals Trading Up 2.4 %

Shares of HBM stock opened at $8.83 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. Hudbay Minerals Inc. has a fifty-two week low of $4.94 and a fifty-two week high of $10.49. The company has a market cap of $3.48 billion, a PE ratio of 38.39 and a beta of 1.76. The stock’s fifty day moving average price is $8.74 and its two-hundred day moving average price is $8.54.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. The firm had revenue of $485.80 million for the quarter, compared to analysts’ expectations of $454.47 million. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 earnings per share. Equities analysts predict that Hudbay Minerals Inc. will post 0.55 EPS for the current fiscal 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.