Mountaineer Partners Management LLC Acquires 9,166,952 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Mountaineer Partners Management LLC boosted its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 792.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,323,605 shares of the mining company’s stock after purchasing an additional 9,166,952 shares during the quarter. Hudbay Minerals comprises approximately 0.8% of Mountaineer Partners Management LLC’s investment portfolio, making the stock its 13th biggest position. Mountaineer Partners Management LLC owned about 2.62% of Hudbay Minerals worth $94,874,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in shares of Hudbay Minerals during the third quarter worth $28,000. Exchange Traded Concepts LLC acquired a new position in shares of Hudbay Minerals during the 3rd quarter worth approximately $53,000. Clear Harbor Asset Management LLC bought a new position in shares of Hudbay Minerals during the third quarter worth approximately $92,000. Ritholtz Wealth Management acquired a new stake in shares of Hudbay Minerals in the second quarter valued at approximately $96,000. Finally, Armistice Capital LLC bought a new stake in shares of Hudbay Minerals in the second quarter valued at approximately $97,000. 57.82% of the stock is owned by institutional investors.

Hudbay Minerals Stock Performance

Shares of Hudbay Minerals stock opened at $8.93 on Wednesday. The business has a 50-day simple moving average of $9.13 and a 200 day simple moving average of $8.68. Hudbay Minerals Inc. has a one year low of $4.51 and a one year high of $10.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 38.78 and a beta of 1.77.

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

Analyst Ratings Changes

HBM has been the topic of a number of recent analyst reports. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Five 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 stock presently has a consensus rating of “Buy” and a consensus target price of $11.17.

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.