Geode Capital Management LLC Purchases 8,664 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Geode Capital Management LLC lifted its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,967 shares of the mining company’s stock after acquiring an additional 8,664 shares during the quarter. Geode Capital Management LLC’s holdings in Hudbay Minerals were worth $1,700,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwest & Ethical Investments L.P. boosted its stake in shares of Hudbay Minerals by 0.8% during the third quarter. Northwest & Ethical Investments L.P. now owns 197,289 shares of the mining company’s stock valued at $1,815,000 after purchasing an additional 1,487 shares in the last quarter. Van ECK Associates Corp raised its holdings in Hudbay Minerals by 0.4% in the 3rd quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company’s stock valued at $4,213,000 after buying an additional 1,960 shares during the last quarter. MQS Management LLC boosted its position in Hudbay Minerals by 8.2% during the 3rd quarter. MQS Management LLC now owns 34,231 shares of the mining company’s stock worth $315,000 after buying an additional 2,592 shares during the period. FMR LLC grew its holdings in Hudbay Minerals by 0.7% during the 3rd quarter. FMR LLC now owns 354,392 shares of the mining company’s stock worth $3,260,000 after acquiring an additional 2,624 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in Hudbay Minerals in the 3rd quarter valued at approximately $28,000. Institutional investors own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals Price Performance

Hudbay Minerals stock opened at $8.83 on Thursday. The stock’s 50 day moving average is $8.74 and its 200 day moving average is $8.54. Hudbay Minerals Inc. has a one year low of $4.94 and a one year high of $10.49. The firm has a market cap of $3.48 billion, a P/E ratio of 38.39 and a beta of 1.76. 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 (NYSE:HBM) (TSE:HBM) last issued its quarterly 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. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The firm had revenue of $485.80 million for the quarter, compared to the consensus estimate of $454.47 million. During the same quarter in the previous year, the company earned $0.07 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, research analysts expect that Hudbay Minerals Inc. will post 0.55 EPS for the current year.

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.