Maverick Capital Ltd. Has $2.49 Million Stake in Hudbay Minerals Inc. (NYSE:HBM)

Maverick Capital Ltd. increased its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 45.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,139 shares of the mining company’s stock after buying an additional 84,240 shares during the period. Maverick Capital Ltd. owned 0.07% of Hudbay Minerals worth $2,492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HBM. Prospera Private Wealth LLC acquired a new stake in shares of Hudbay Minerals in the third quarter valued at approximately $28,000. Exchange Traded Concepts LLC acquired a new position in shares of Hudbay Minerals during the third quarter valued at about $53,000. Clear Harbor Asset Management LLC acquired a new position in shares of Hudbay Minerals during the third quarter valued at about $92,000. Ritholtz Wealth Management acquired a new position in shares of Hudbay Minerals during the second quarter valued at about $96,000. Finally, Armistice Capital LLC acquired a new position in shares of Hudbay Minerals during the second quarter valued at about $97,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Trading Up 1.9 %

NYSE:HBM opened at $8.94 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. The firm has a 50-day moving average of $9.09 and a 200-day moving average of $8.70. The company has a market cap of $3.52 billion, a PE ratio of 38.87 and a beta of 1.78. Hudbay Minerals Inc. has a one year low of $4.41 and a one year high of $10.49.

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. The company had revenue of $485.80 million during the quarter, compared to the consensus estimate of $454.47 million. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 earnings per share. As a group, equities research analysts expect that Hudbay Minerals Inc. will post 0.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HBM has been the topic of several research reports. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report 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 research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Hudbay Minerals 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.