Cetera Investment Advisers Raises Position in Hudbay Minerals Inc. (NYSE:HBM)

Cetera Investment Advisers raised its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 24.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,224 shares of the mining company’s stock after acquiring an additional 3,760 shares during the quarter. Cetera Investment Advisers’ holdings in Hudbay Minerals were worth $156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Hudbay Minerals during the 4th quarter valued at $50,260,000. Dimensional Fund Advisors LP lifted its stake in shares of Hudbay Minerals by 86.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company’s stock valued at $74,105,000 after buying an additional 4,253,400 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of Hudbay Minerals during the 4th quarter valued at $17,657,000. American Century Companies Inc. lifted its stake in shares of Hudbay Minerals by 102.4% during the 4th quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company’s stock valued at $34,684,000 after buying an additional 2,163,000 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Hudbay Minerals by 111.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,777,571 shares of the mining company’s stock valued at $30,602,000 after buying an additional 1,994,431 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Stock Up 2.6%

Shares of HBM stock opened at $9.16 on Tuesday. The stock has a market cap of $3.62 billion, a P/E ratio of 50.86 and a beta of 1.56. Hudbay Minerals Inc. has a 52 week low of $5.95 and a 52 week high of $9.86. 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 company’s fifty day simple moving average is $7.65 and its two-hundred day simple moving average is $8.12.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.14. The firm had revenue of $594.90 million for the quarter, compared to analysts’ expectations of $537.36 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 EPS. Analysts predict that Hudbay Minerals Inc. will post 0.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research note on Wednesday, March 19th. Scotiabank reiterated an “outperform” rating on shares of Hudbay Minerals in a research note on Tuesday, May 13th. Wall Street Zen upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Desjardins assumed coverage on shares of Hudbay Minerals in a research note on Friday, April 4th. They issued a “buy” rating on the stock. Finally, BMO Capital Markets assumed coverage on shares of Hudbay Minerals in a research note on Wednesday, April 16th. They issued an “outperform” rating on the stock. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $14.00.

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.