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

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

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Hudbay Minerals by 3.2% during the first quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock worth $60,861,000 after purchasing an additional 272,635 shares during the last quarter. Bank of Montreal Can lifted its position in Hudbay Minerals by 23.1% in 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 last quarter. Donald Smith & CO. Inc. lifted its position in Hudbay Minerals by 31.9% in the 3rd quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company’s stock worth $34,451,000 after buying an additional 906,417 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Hudbay Minerals by 24.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,545,340 shares of the mining company’s stock worth $32,084,000 after buying an additional 702,170 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Hudbay Minerals by 12.2% during the third quarter. Jennison Associates LLC now owns 3,298,814 shares of the mining company’s stock valued at $30,340,000 after acquiring an additional 359,126 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors.

Hudbay Minerals Trading Up 2.2 %

Shares of NYSE:HBM opened at $8.93 on Wednesday. Hudbay Minerals Inc. has a 12-month low of $4.51 and a 12-month high of $10.49. The company has a market cap of $3.52 billion, a PE ratio of 38.78 and a beta of 1.77. The stock has a 50 day moving average of $9.13 and a 200 day moving average of $8.68. 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 earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, beating 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 analysts’ expectations of $454.47 million. During the same period last year, the company posted $0.07 earnings per share. Hudbay Minerals’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts expect that Hudbay Minerals Inc. will post 0.55 EPS for the current year.

Analyst Upgrades and Downgrades

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

Hudbay Minerals 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.