Sanctuary Advisors LLC Invests $178,000 in Hudbay Minerals Inc. (NYSE:HBM)

Sanctuary Advisors LLC bought a new position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 19,557 shares of the mining company’s stock, valued at approximately $178,000.

A number of other large investors have also recently made changes to their positions in HBM. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Hudbay Minerals by 4.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company’s stock worth $674,000 after buying an additional 2,905 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Hudbay Minerals by 58.3% during the 2nd quarter. Van ECK Associates Corp now owns 449,668 shares of the mining company’s stock worth $4,070,000 after purchasing an additional 165,682 shares during the period. Ritholtz Wealth Management purchased a new position in shares of Hudbay Minerals during the 2nd quarter worth about $96,000. CIBC Asset Management Inc boosted its stake in shares of Hudbay Minerals by 18.9% during the 2nd quarter. CIBC Asset Management Inc now owns 488,503 shares of the mining company’s stock worth $4,418,000 after purchasing an additional 77,504 shares during the period. Finally, Regal Partners Ltd purchased a new position in shares of Hudbay Minerals during the 2nd quarter worth about $22,956,000. 57.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $11.17.

Hudbay Minerals Price Performance

Hudbay Minerals stock opened at $8.00 on Tuesday. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 34.78 and a beta of 1.77. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. Hudbay Minerals Inc. has a 1 year low of $4.94 and a 1 year high of $10.49. The firm has a 50-day moving average of $8.91 and a two-hundred day moving average of $8.56.

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