Hudbay Minerals Inc. (NYSE:HBM) Stock Position Lifted by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. grew its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 1,310.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 764,400 shares of the mining company’s stock after buying an additional 710,212 shares during the period. Polar Asset Management Partners Inc.’s holdings in Hudbay Minerals were worth $7,026,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HBM. Mountaineer Partners Management LLC raised its position in shares of Hudbay Minerals by 792.5% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock worth $94,874,000 after purchasing an additional 9,166,952 shares during the period. Regal Partners Ltd acquired a new stake in Hudbay Minerals in the 2nd quarter valued at approximately $22,956,000. Artemis Investment Management LLP acquired a new stake in Hudbay Minerals in the 3rd quarter valued at approximately $20,907,000. TD Asset Management Inc increased its position in Hudbay Minerals by 199.4% in the 2nd quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock valued at $26,294,000 after acquiring an additional 1,935,709 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in Hudbay Minerals by 2,521.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock valued at $15,861,000 after acquiring an additional 1,685,836 shares during the period. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Stock Performance

Shares of Hudbay Minerals stock opened at $8.93 on Wednesday. The stock has a market cap of $3.52 billion, a PE ratio of 38.83 and a beta of 1.77. The business has a fifty day simple moving average of $9.13 and a 200-day simple moving average of $8.67. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. Hudbay Minerals Inc. has a 12 month low of $4.51 and a 12 month high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.04 by $0.09. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The business had revenue of $485.80 million during the quarter, compared to analysts’ expectations of $454.47 million. During the same quarter last year, the firm posted $0.07 earnings per share. Hudbay Minerals’s revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Hudbay Minerals Inc. will post 0.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on HBM. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $11.17.

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.