Cibc World Market Inc. Increases Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Cibc World Market Inc. boosted its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,879,561 shares of the mining company’s stock after acquiring an additional 78,267 shares during the quarter. Cibc World Market Inc.’s holdings in Hudbay Minerals were worth $15,240,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new position in shares of Hudbay Minerals in the third quarter valued at $28,000. Exchange Traded Concepts LLC acquired a new position in Hudbay Minerals in the 3rd quarter worth $53,000. Clear Harbor Asset Management LLC purchased a new position in Hudbay Minerals in the 3rd quarter valued at about $92,000. First Affirmative Financial Network acquired a new stake in shares of Hudbay Minerals during the third quarter valued at about $103,000. Finally, Algert Global LLC purchased a new stake in shares of Hudbay Minerals during the second quarter worth about $111,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Thursday. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Price Performance

HBM opened at $8.25 on Friday. The company has a market capitalization of $3.25 billion, a P/E ratio of 35.88 and a beta of 1.76. The company has a 50-day moving average of $8.59 and a 200-day moving average of $8.46. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. Hudbay Minerals Inc. has a 1-year low of $4.94 and a 1-year high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.09. The firm had revenue of $485.80 million during 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%. Hudbay Minerals’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 earnings per share. Equities analysts expect that Hudbay Minerals Inc. will post 0.52 EPS 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.