Cumberland Partners Ltd Has $2.96 Million Stake in Hudbay Minerals Inc. (NYSE:HBM)

Cumberland Partners Ltd reduced its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 12.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 364,700 shares of the mining company’s stock after selling 50,000 shares during the quarter. Cumberland Partners Ltd owned approximately 0.09% of Hudbay Minerals worth $2,957,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in HBM. Exchange Traded Concepts LLC bought a new position in shares of Hudbay Minerals in the third quarter valued at approximately $53,000. Creative Planning raised its holdings in Hudbay Minerals by 37.1% in the 3rd quarter. Creative Planning now owns 29,142 shares of the mining company’s stock worth $268,000 after acquiring an additional 7,881 shares during the period. Blue Trust Inc. lifted its position in Hudbay Minerals by 73.8% during the 3rd quarter. Blue Trust Inc. now owns 25,439 shares of the mining company’s stock worth $230,000 after acquiring an additional 10,806 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Hudbay Minerals during the third quarter valued at about $3,601,000. Finally, Signaturefd LLC grew its position in shares of Hudbay Minerals by 8.1% in the third quarter. Signaturefd LLC now owns 46,555 shares of the mining company’s stock valued at $428,000 after purchasing an additional 3,474 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Price Performance

NYSE:HBM opened at $7.76 on Thursday. 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 one year low of $5.22 and a one year high of $10.49. The company has a fifty day moving average price of $8.56 and a 200 day moving average price of $8.54. The stock has a market cap of $3.06 billion, a P/E ratio of 33.72 and a beta of 1.74.

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

Wall Street Analyst Weigh In

Separately, StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. 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. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $11.17.

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.