Quadrature Capital Ltd Sells 371,600 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Quadrature Capital Ltd reduced its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 39.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 578,700 shares of the mining company’s stock after selling 371,600 shares during the period. Quadrature Capital Ltd owned 0.15% of Hudbay Minerals worth $5,333,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in HBM. Prospera Private Wealth LLC bought a new position in shares of Hudbay Minerals in the third quarter worth about $28,000. Exchange Traded Concepts LLC bought a new position in shares of Hudbay Minerals in the third quarter worth about $53,000. Clear Harbor Asset Management LLC bought a new position in shares of Hudbay Minerals in the third quarter worth about $92,000. Ritholtz Wealth Management bought a new position in shares of Hudbay Minerals in the second quarter worth about $96,000. Finally, Armistice Capital LLC bought a new position in shares of Hudbay Minerals in the second quarter worth about $97,000. 57.82% of the stock is currently owned by institutional investors.

Hudbay Minerals Trading Up 1.7 %

Shares of HBM opened at $9.06 on Friday. Hudbay Minerals Inc. has a 12-month low of $4.66 and a 12-month high of $10.49. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 38.72 and a beta of 1.77. The stock’s 50-day moving average price is $9.13 and its 200 day moving average price is $8.67.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. The company had revenue of $485.80 million for the quarter, compared to the consensus estimate of $454.47 million. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.07 earnings per share. As a group, research analysts predict that Hudbay Minerals Inc. will post 0.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note 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 company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus 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.