Woodline Partners LP Purchases 1,453,173 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Woodline Partners LP raised its position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 216.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,124,494 shares of the mining company’s stock after buying an additional 1,453,173 shares during the quarter. Woodline Partners LP owned about 0.54% of Hudbay Minerals worth $17,208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Hudbay Minerals by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 15,267,805 shares of the mining company’s stock valued at $123,852,000 after purchasing an additional 255,191 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Hudbay Minerals by 14.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,662,499 shares of the mining company’s stock valued at $118,874,000 after purchasing an additional 1,822,601 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Hudbay Minerals by 2.7% during the 4th quarter. Invesco Ltd. now owns 11,815,849 shares of the mining company’s stock valued at $95,708,000 after purchasing an additional 314,619 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Hudbay Minerals by 86.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company’s stock valued at $74,105,000 after purchasing an additional 4,253,400 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Hudbay Minerals by 4.9% during the 4th quarter. Bank of Montreal Can now owns 8,065,777 shares of the mining company’s stock valued at $65,342,000 after purchasing an additional 374,258 shares during the last quarter. 57.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Hudbay Minerals in a report on Tuesday, May 13th. StockNews.com raised shares of Hudbay Minerals from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th. BMO Capital Markets started coverage on shares of Hudbay Minerals in a research report on Wednesday, April 16th. They set an “outperform” rating on the stock. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Desjardins started coverage on shares of Hudbay Minerals in a research report on Friday, April 4th. They set a “buy” rating on the stock. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $14.00.

Hudbay Minerals Stock Up 0.9%

NYSE:HBM opened at $8.48 on Thursday. The firm’s 50 day simple moving average is $7.54 and its 200 day simple moving average is $8.13. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. Hudbay Minerals Inc. has a one year low of $5.95 and a one year high of $10.15. The company has a market cap of $3.35 billion, a PE ratio of 47.09 and a beta of 1.56.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.10 by $0.14. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The business had revenue of $594.90 million for the quarter, compared to the consensus estimate of $537.36 million. During the same period last year, the company earned $0.22 EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. On average, research analysts anticipate that Hudbay Minerals Inc. will post 0.79 earnings per share for the current year.

About Hudbay Minerals

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.