Hudbay Minerals Inc. (NYSE:HBM) Shares Sold by Vident Advisory LLC

Vident Advisory LLC lowered its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 329,938 shares of the mining company’s stock after selling 12,759 shares during the quarter. Vident Advisory LLC’s holdings in Hudbay Minerals were worth $2,674,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HBM. Norges Bank acquired a new position in Hudbay Minerals during the fourth quarter worth $50,260,000. Dimensional Fund Advisors LP boosted its stake in Hudbay Minerals by 86.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company’s stock worth $74,105,000 after buying an additional 4,253,400 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Hudbay Minerals during the fourth quarter worth $17,657,000. American Century Companies Inc. boosted its stake in Hudbay Minerals by 102.4% during the fourth quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company’s stock worth $34,684,000 after buying an additional 2,163,000 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Hudbay Minerals by 111.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,777,571 shares of the mining company’s stock worth $30,602,000 after buying an additional 1,994,431 shares during the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

Hudbay Minerals Price Performance

NYSE:HBM opened at $8.48 on Thursday. Hudbay Minerals Inc. has a 52 week low of $5.95 and a 52 week high of $10.15. 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 capitalization of $3.35 billion, a P/E ratio of 47.09 and a beta of 1.56. The stock’s fifty day moving average is $7.54 and its two-hundred day moving average is $8.13.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.14. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The company had revenue of $594.90 million for the quarter, compared to the consensus estimate of $537.36 million. During the same quarter in the previous year, the business earned $0.22 earnings per share. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities analysts expect that Hudbay Minerals Inc. will post 0.79 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HBM shares. Scotiabank reissued an “outperform” rating on shares of Hudbay Minerals in a research note on Tuesday, May 13th. BMO Capital Markets assumed coverage on Hudbay Minerals in a research note on Wednesday, April 16th. They set an “outperform” rating on the stock. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. Desjardins assumed coverage on Hudbay Minerals in a research report on Friday, April 4th. They issued a “buy” rating on the stock. Finally, StockNews.com upgraded Hudbay Minerals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Hudbay Minerals currently has an average rating of “Buy” and a consensus price target of $14.00.

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.