PCJ Investment Counsel Ltd. Raises Stake in Hudbay Minerals Inc. (NYSE:HBM)

PCJ Investment Counsel Ltd. increased its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 14.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 297,900 shares of the mining company’s stock after buying an additional 36,900 shares during the period. PCJ Investment Counsel Ltd.’s holdings in Hudbay Minerals were worth $2,740,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Prospera Private Wealth LLC purchased a new stake in shares of Hudbay Minerals in the 3rd quarter worth about $28,000. Regal Partners Ltd boosted its position in shares of Hudbay Minerals by 5.4% in the 3rd quarter. Regal Partners Ltd now owns 2,673,518 shares of the mining company’s stock worth $24,570,000 after buying an additional 136,943 shares in the last quarter. MQS Management LLC boosted its position in shares of Hudbay Minerals by 8.2% in 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 in the last quarter. Entropy Technologies LP purchased a new stake in shares of Hudbay Minerals in the 3rd quarter worth about $587,000. Finally, Meritage Portfolio Management purchased a new stake in shares of Hudbay Minerals in the 3rd quarter worth about $6,743,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Hudbay Minerals Trading Up 2.6 %

Shares of HBM stock opened at $9.11 on Wednesday. The firm has a 50-day moving average price of $8.88 and a 200 day moving average price of $8.69. Hudbay Minerals Inc. has a twelve month low of $4.30 and a twelve month high of $10.49. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 39.61 and a beta of 1.78. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results 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. 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 during the quarter, compared to the consensus estimate of $454.47 million. During the same quarter in the previous year, the company posted $0.07 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. Research analysts forecast that Hudbay Minerals Inc. will post 0.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HBM has been the topic of several recent research reports. Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Hudbay Minerals currently has an average rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals 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.