CIBC World Markets Inc. lessened its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 73.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 298,314 shares of the mining company’s stock after selling 827,271 shares during the quarter. CIBC World Markets Inc. owned 0.11% of Hudbay Minerals worth $2,049,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its position in shares of Hudbay Minerals by 1.5% during the 4th quarter. Renaissance Technologies LLC now owns 6,440,529 shares of the mining company’s stock worth $45,084,000 after buying an additional 92,600 shares during the period. Morgan Stanley increased its holdings in Hudbay Minerals by 233.9% during the 4th quarter. Morgan Stanley now owns 2,498,140 shares of the mining company’s stock valued at $17,487,000 after purchasing an additional 1,750,052 shares in the last quarter. ETF Managers Group LLC increased its holdings in Hudbay Minerals by 26.2% during the 4th quarter. ETF Managers Group LLC now owns 1,774,007 shares of the mining company’s stock valued at $12,578,000 after purchasing an additional 368,397 shares in the last quarter. Scotia Capital Inc. increased its holdings in Hudbay Minerals by 1,011.8% during the 1st quarter. Scotia Capital Inc. now owns 1,724,888 shares of the mining company’s stock valued at $11,804,000 after purchasing an additional 1,569,745 shares in the last quarter. Finally, Barometer Capital Management Inc. acquired a new stake in Hudbay Minerals during the 4th quarter valued at $8,376,000. Institutional investors and hedge funds own 66.97% of the company’s stock.
Several equities research analysts have recently commented on the company. Scotiabank lowered their target price on Hudbay Minerals from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Thursday, May 13th. Raymond James raised their price target on Hudbay Minerals from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a research report on Wednesday. CIBC raised their price target on Hudbay Minerals from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 25th. Stifel Nicolaus raised their price target on Hudbay Minerals from $12.00 to $13.25 and gave the stock a “buy” rating in a research report on Wednesday, March 31st. Finally, TD Securities raised their price target on Hudbay Minerals from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Friday, February 19th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $12.36.
Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Tuesday, May 11th. The mining company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). The firm had revenue of $313.62 million during the quarter, compared to the consensus estimate of $362.07 million. Hudbay Minerals had a negative net margin of 11.07% and a negative return on equity of 5.84%. The business’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.29) earnings per share. On average, analysts expect that Hudbay Minerals Inc. will post 0.28 earnings per share for the current fiscal year.
About Hudbay Minerals
Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; molybdenum concentrates; and zinc metals.
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