MML Investors Services LLC Invests $226,000 in Hudbay Minerals Inc. (NYSE:HBM)

MML Investors Services LLC acquired a new stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 24,574 shares of the mining company’s stock, valued at approximately $226,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Hudbay Minerals by 4.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company’s stock valued at $674,000 after purchasing an additional 2,905 shares in the last quarter. Van ECK Associates Corp increased its position in Hudbay Minerals by 58.3% during the second quarter. Van ECK Associates Corp now owns 449,668 shares of the mining company’s stock worth $4,070,000 after buying an additional 165,682 shares during the period. NewGen Asset Management Ltd purchased a new stake in Hudbay Minerals in the second quarter valued at approximately $4,525,000. Ritholtz Wealth Management acquired a new stake in shares of Hudbay Minerals in the second quarter valued at approximately $96,000. Finally, CIBC Asset Management Inc boosted its holdings in shares of Hudbay Minerals by 18.9% in the second quarter. CIBC Asset Management Inc now owns 488,503 shares of the mining company’s stock valued at $4,418,000 after acquiring an additional 77,504 shares during the period. Institutional investors and hedge funds own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Hudbay Minerals Stock Up 0.4 %

HBM opened at $8.28 on Friday. Hudbay Minerals Inc. has a 52 week low of $4.94 and a 52 week high of $10.49. The business has a 50 day moving average price of $8.94 and a two-hundred day moving average price of $8.57. 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 $3.26 billion, a PE ratio of 36.00 and a beta of 1.77.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results 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 return on equity of 7.44% and a net margin of 4.23%. The business had revenue of $485.80 million during the quarter, compared to analysts’ expectations of $454.47 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, research analysts anticipate that Hudbay Minerals Inc. will post 0.55 EPS for the current year.

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.