Teachers Retirement System of The State of Kentucky Purchases Shares of 301,500 Hudbay Minerals Inc. (NYSE:HBM)

Teachers Retirement System of The State of Kentucky acquired a new position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 301,500 shares of the mining company’s stock, valued at approximately $2,771,000. Teachers Retirement System of The State of Kentucky owned approximately 0.08% of Hudbay Minerals at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in Hudbay Minerals during the third quarter worth approximately $28,000. Exchange Traded Concepts LLC bought a new position in shares of Hudbay Minerals during the 3rd quarter worth approximately $53,000. Clear Harbor Asset Management LLC acquired a new stake in shares of Hudbay Minerals during the 3rd quarter worth approximately $92,000. Ritholtz Wealth Management bought a new stake in shares of Hudbay Minerals in the 2nd quarter valued at $96,000. Finally, Armistice Capital LLC acquired a new position in shares of Hudbay Minerals during the 2nd quarter valued at $97,000. 57.82% of the stock is owned by institutional investors.

Hudbay Minerals Trading Down 5.4 %

NYSE HBM opened at $8.66 on Friday. Hudbay Minerals Inc. has a 52 week low of $4.94 and a 52 week high of $10.49. The business has a 50 day moving average price of $9.11 and a 200-day moving average price of $8.64. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 37.65 and a beta of 1.77.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Hudbay Minerals currently 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.