96,426 Shares in Hudbay Minerals Inc. (NYSE:HBM) Acquired by Tidal Investments LLC

Tidal Investments LLC purchased a new position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 96,426 shares of the mining company’s stock, valued at approximately $886,000.

A number of other institutional investors have also added to or reduced their stakes in HBM. Prospera Private Wealth LLC bought a new stake in shares of Hudbay Minerals in the third quarter worth about $28,000. Exchange Traded Concepts LLC bought a new stake in Hudbay Minerals in the 3rd quarter worth approximately $53,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Hudbay Minerals during the 3rd quarter worth approximately $92,000. Ritholtz Wealth Management bought a new position in shares of Hudbay Minerals during the 2nd quarter valued at approximately $96,000. Finally, Armistice Capital LLC purchased a new position in shares of Hudbay Minerals in the second quarter valued at $97,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Price Performance

Shares of Hudbay Minerals stock opened at $8.24 on Friday. The stock has a 50 day moving average price of $9.03 and a 200-day moving average price of $8.60. Hudbay Minerals Inc. has a one year low of $4.94 and a one year high of $10.49. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 35.83 and a beta of 1.77. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data 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 analyst estimates of $454.47 million. During the same period in the previous year, the firm earned $0.07 earnings per share. Hudbay Minerals’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities analysts expect that Hudbay Minerals Inc. will post 0.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target 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.