Verition Fund Management LLC Has $23.76 Million Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Verition Fund Management LLC raised its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 106.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,585,032 shares of the mining company’s stock after buying an additional 1,334,969 shares during the period. Verition Fund Management LLC’s holdings in Hudbay Minerals were worth $23,756,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Northwest & Ethical Investments L.P. grew its position 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 worth $1,815,000 after acquiring an additional 1,487 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Hudbay Minerals by 0.4% during the third quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company’s stock worth $4,213,000 after purchasing an additional 1,960 shares during the last quarter. MQS Management LLC increased its stake in shares of Hudbay Minerals by 8.2% in the third 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 in the last quarter. FMR LLC raised its holdings in shares of Hudbay Minerals by 0.7% in the third 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 shares of Hudbay Minerals by 4.1% in the second 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. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Stock Performance

Hudbay Minerals stock opened at $8.77 on Friday. The company has a market cap of $3.45 billion, a PE ratio of 38.13 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 Inc. has a 1 year low of $4.34 and a 1 year high of $10.49. The company’s 50-day moving average is $9.08 and its two-hundred day moving average is $8.70.

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 analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $454.47 million. During the same period last year, the firm earned $0.07 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities analysts anticipate that Hudbay Minerals Inc. will post 0.55 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on HBM. StockNews.com raised 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 report 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average 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.