JPMorgan Chase & Co. Sells 1,051,365 Shares of Hudbay Minerals Inc. (NYSE:HBM)

JPMorgan Chase & Co. trimmed its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 68.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 479,297 shares of the mining company’s stock after selling 1,051,365 shares during the period. JPMorgan Chase & Co. owned 0.12% of Hudbay Minerals worth $4,405,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HBM. Northwest & Ethical Investments L.P. increased its stake in Hudbay Minerals by 0.8% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 197,289 shares of the mining company’s stock worth $1,815,000 after acquiring an additional 1,487 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Hudbay Minerals by 0.4% in the third quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company’s stock valued at $4,213,000 after purchasing an additional 1,960 shares in the last quarter. MQS Management LLC increased its position in Hudbay Minerals by 8.2% in the third quarter. MQS Management LLC now owns 34,231 shares of the mining company’s stock worth $315,000 after purchasing an additional 2,592 shares during the last quarter. FMR LLC raised its stake in Hudbay Minerals by 0.7% during the third quarter. FMR LLC now owns 354,392 shares of the mining company’s stock valued at $3,260,000 after purchasing an additional 2,624 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Hudbay Minerals during the third quarter valued at $28,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $11.17.

Hudbay Minerals Price Performance

Shares of NYSE HBM opened at $8.60 on Friday. Hudbay Minerals Inc. has a 52 week low of $4.94 and a 52 week high of $10.49. The business’s 50 day moving average price is $8.67 and its 200 day moving average price is $8.53. 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 firm has a market cap of $3.39 billion, a P/E ratio of 37.39 and a beta of 1.76.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. The business had revenue of $485.80 million during the quarter, compared to the consensus estimate of $454.47 million. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 earnings per share. On average, sell-side analysts expect that Hudbay Minerals Inc. will post 0.56 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.