Hudbay Minerals Inc. (NYSE:HBM) Shares Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP increased its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 39.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 410,669 shares of the mining company’s stock after purchasing an additional 116,732 shares during the quarter. Cinctive Capital Management LP owned 0.10% of Hudbay Minerals worth $3,777,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new stake in Hudbay Minerals in the 3rd quarter valued at about $28,000. Exchange Traded Concepts LLC acquired a new position in Hudbay Minerals in the 3rd quarter valued at about $53,000. Clear Harbor Asset Management LLC purchased a new position in Hudbay Minerals in the 3rd quarter valued at about $92,000. Ritholtz Wealth Management acquired a new stake in shares of Hudbay Minerals during the 2nd quarter worth about $96,000. Finally, Armistice Capital LLC purchased a new stake in shares of Hudbay Minerals during the second quarter worth about $97,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. 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 upgraded 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 stock. Based on data from MarketBeat.com, Hudbay Minerals currently has a consensus rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Price Performance

Hudbay Minerals stock opened at $8.76 on Tuesday. Hudbay Minerals Inc. has a 1 year low of $4.51 and a 1 year high of $10.49. 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 firm has a 50 day moving average price of $9.12 and a 200 day moving average price of $8.69. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 38.07 and a beta of 1.77.

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

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.