Dynamic Technology Lab Private Ltd Cuts Position in Hudbay Minerals Inc. (NYSE:HBM)

Dynamic Technology Lab Private Ltd decreased its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 86.2% in the third quarter, HoldingsChannel.com reports. The firm owned 18,293 shares of the mining company’s stock after selling 114,018 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Hudbay Minerals were worth $168,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HBM. Regal Partners Ltd purchased a new stake in shares of Hudbay Minerals during the second quarter worth $22,956,000. Artemis Investment Management LLP acquired a new position in Hudbay Minerals in the third quarter valued at approximately $20,907,000. TD Asset Management Inc increased its stake in Hudbay Minerals by 199.4% during the second quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock worth $26,294,000 after acquiring an additional 1,935,709 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Hudbay Minerals by 2,521.9% in the second quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock valued at $15,861,000 after purchasing an additional 1,685,836 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in shares of Hudbay Minerals in the 2nd quarter valued at $14,718,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Analysts Set New Price Targets

HBM has been the subject of a number of recent analyst reports. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Five 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.com, Hudbay Minerals has a consensus rating of “Buy” and an average price target of $11.17.

Hudbay Minerals Stock Down 2.1 %

Shares of HBM opened at $8.76 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. The stock has a market capitalization of $3.45 billion, a PE ratio of 37.87 and a beta of 1.78. The company’s 50-day simple moving average is $9.12 and its 200-day simple moving average is $8.69. Hudbay Minerals Inc. has a 1 year low of $4.51 and a 1 year high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 4.23% and a return on equity of 7.44%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 EPS. Analysts forecast 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.