Cumberland Partners Ltd Sells 50,000 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Cumberland Partners Ltd trimmed its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 12.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 364,700 shares of the mining company’s stock after selling 50,000 shares during the quarter. Cumberland Partners Ltd’s holdings in Hudbay Minerals were worth $2,957,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in HBM. Cinctive Capital Management LP raised its position in Hudbay Minerals by 39.7% in the third quarter. Cinctive Capital Management LP now owns 410,669 shares of the mining company’s stock worth $3,777,000 after purchasing an additional 116,732 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Hudbay Minerals by 23.1% during the 3rd quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock worth $71,308,000 after buying an additional 1,441,991 shares during the period. Toronto Dominion Bank lifted its position in shares of Hudbay Minerals by 300.9% during the 3rd quarter. Toronto Dominion Bank now owns 226,841 shares of the mining company’s stock worth $2,085,000 after buying an additional 170,257 shares during the period. Mountaineer Partners Management LLC boosted its stake in Hudbay Minerals by 792.5% in the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock valued at $94,874,000 after buying an additional 9,166,952 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Hudbay Minerals by 12.2% in the 3rd quarter. Jennison Associates LLC now owns 3,298,814 shares of the mining company’s stock valued at $30,340,000 after buying an additional 359,126 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals Stock Performance

NYSE:HBM opened at $7.76 on Thursday. The stock has a market capitalization of $3.06 billion, a P/E ratio of 33.72 and a beta of 1.74. Hudbay Minerals Inc. has a 1 year low of $5.22 and a 1 year high of $10.49. The firm has a 50 day moving average of $8.56 and a 200-day moving average of $8.54. 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 (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The business had revenue of $584.90 million during the quarter, compared to analyst estimates of $588.28 million. During the same period in the prior year, the firm posted $0.20 EPS. Hudbay Minerals’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hudbay Minerals Inc. will post 0.45 EPS for the current fiscal 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.