Zimmer Partners LP Acquires 200,000 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Zimmer Partners LP lifted its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 33.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 800,000 shares of the mining company’s stock after acquiring an additional 200,000 shares during the quarter. Zimmer Partners LP owned 0.20% of Hudbay Minerals worth $7,352,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwest & Ethical Investments L.P. raised its holdings in Hudbay Minerals by 0.8% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 197,289 shares of the mining company’s stock valued at $1,815,000 after buying an additional 1,487 shares during the last quarter. Van ECK Associates Corp raised its holdings in Hudbay Minerals by 0.4% during 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 raised its holdings in Hudbay Minerals by 8.2% during the 3rd quarter. MQS Management LLC now owns 34,231 shares of the mining company’s stock valued at $315,000 after buying an additional 2,592 shares during the last quarter. FMR LLC raised 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 valued at $3,260,000 after buying an additional 2,624 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Hudbay Minerals by 4.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company’s stock valued at $674,000 after buying an additional 2,905 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Hudbay Minerals presently has a consensus rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Stock Down 2.4 %

Shares of Hudbay Minerals stock opened at $8.85 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $9.12 and its two-hundred day simple moving average is $8.67. The company has a market cap of $3.48 billion, a P/E ratio of 38.46 and a beta of 1.77. Hudbay Minerals Inc. has a 12-month low of $4.66 and a 12-month high of $10.49.

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

About Hudbay Minerals

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.