Bridgewater Associates LP Purchases 423,748 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Bridgewater Associates LP lifted its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 124.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 764,988 shares of the mining company’s stock after buying an additional 423,748 shares during the quarter. Bridgewater Associates LP owned approximately 0.19% of Hudbay Minerals worth $7,044,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HBM. Van ECK Associates Corp grew its holdings in Hudbay Minerals by 0.4% during the 3rd quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company’s stock worth $4,213,000 after acquiring an additional 1,960 shares in the last quarter. MQS Management LLC lifted its position in shares of Hudbay Minerals by 8.2% in the 3rd quarter. MQS Management LLC now owns 34,231 shares of the mining company’s stock worth $315,000 after purchasing an additional 2,592 shares during the period. FMR LLC boosted its stake in shares of Hudbay Minerals by 0.7% during the third quarter. FMR LLC now owns 354,392 shares of the mining company’s stock valued at $3,260,000 after purchasing an additional 2,624 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Hudbay Minerals by 4.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company’s stock valued at $674,000 after buying an additional 2,905 shares during the period. Finally, Prospera Private Wealth LLC bought a new position in Hudbay Minerals in the third quarter worth approximately $28,000. Institutional investors own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Stock Performance

Shares of HBM stock opened at $8.94 on Friday. Hudbay Minerals Inc. has a 12-month low of $4.41 and a 12-month high of $10.49. The business’s fifty day simple moving average is $9.09 and its 200-day simple moving average is $8.70. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The company has a market cap of $3.52 billion, a PE ratio of 38.87 and a beta of 1.78.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results 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 for the quarter, compared to analyst estimates of $454.47 million. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. Analysts expect that Hudbay Minerals Inc. will post 0.55 earnings per share for the current fiscal year.

About Hudbay Minerals

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.