Prospera Private Wealth LLC Invests $28,000 in Hudbay Minerals Inc. (NYSE:HBM)

Prospera Private Wealth LLC acquired a new position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,000 shares of the mining company’s stock, valued at approximately $28,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in Hudbay Minerals by 88.8% in the 1st quarter. Russell Investments Group Ltd. now owns 281,015 shares of the mining company’s stock valued at $1,969,000 after buying an additional 132,142 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Hudbay Minerals by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock valued at $60,861,000 after acquiring an additional 272,635 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Hudbay Minerals by 734.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 249,702 shares of the mining company’s stock valued at $1,748,000 after buying an additional 219,792 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Hudbay Minerals by 12.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 458,347 shares of the mining company’s stock worth $3,209,000 after buying an additional 50,126 shares during the last quarter. Finally, Condire Management LP increased its position in shares of Hudbay Minerals by 4.2% during the first quarter. Condire Management LP now owns 4,226,553 shares of the mining company’s stock valued at $29,586,000 after buying an additional 169,310 shares during the period. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Analysts Set New Price Targets

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

Hudbay Minerals Price Performance

Shares of NYSE HBM opened at $9.12 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. Hudbay Minerals Inc. has a 12 month low of $4.34 and a 12 month high of $10.49. The firm’s 50 day simple moving average is $9.00 and its 200-day simple moving average is $8.70. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 39.65 and a beta of 1.78.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results 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 return on equity of 7.44% and a net margin of 4.23%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 EPS. Analysts expect that Hudbay Minerals Inc. will post 0.49 EPS for the current year.

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.