Hudbay Minerals Inc. (NYSE:HBM) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp cut its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 422,616 shares of the mining company’s stock after selling 29,012 shares during the quarter. Van ECK Associates Corp owned approximately 0.11% of Hudbay Minerals worth $3,426,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in Hudbay Minerals in the third quarter worth approximately $28,000. Exchange Traded Concepts LLC purchased a new stake in shares of Hudbay Minerals during the 3rd quarter worth $53,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Hudbay Minerals during the 3rd quarter worth $92,000. First Affirmative Financial Network grew its stake in shares of Hudbay Minerals by 39.2% during the fourth quarter. First Affirmative Financial Network now owns 15,563 shares of the mining company’s stock worth $126,000 after purchasing an additional 4,386 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Hudbay Minerals in the third quarter valued at $178,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals Trading Down 13.4 %

Shares of Hudbay Minerals stock opened at $7.76 on Thursday. 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 company has a fifty day simple moving average of $8.56 and a 200-day simple moving average of $8.54. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 33.72 and a beta of 1.74. Hudbay Minerals Inc. has a 12-month low of $5.22 and a 12-month high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The company had revenue of $584.90 million during the quarter, compared to analysts’ expectations of $588.28 million. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. Hudbay Minerals’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.20 earnings per share. On average, equities analysts forecast that Hudbay Minerals Inc. will post 0.45 EPS for the current fiscal year.

Hudbay Minerals 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.