Bayesian Capital Management LP Buys 9,600 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Bayesian Capital Management LP increased its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 27.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,300 shares of the mining company’s stock after purchasing an additional 9,600 shares during the period. Bayesian Capital Management LP’s holdings in Hudbay Minerals were worth $310,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Register Financial Advisors LLC acquired a new stake in Hudbay Minerals in the first quarter valued at about $35,000. Banque Cantonale Vaudoise boosted its stake in shares of Hudbay Minerals by 38.7% during the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after purchasing an additional 1,806 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Hudbay Minerals during the first quarter valued at about $85,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Hudbay Minerals during the first quarter valued at about $130,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Hudbay Minerals during the fourth quarter valued at about $186,000. 57.82% of the stock is owned by institutional investors and hedge funds.

Hudbay Minerals Stock Performance

Shares of NYSE HBM opened at $8.34 on Thursday. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 36.26 and a beta of 1.82. The company has a current ratio of 1.40, a quick ratio of 1.00 and a debt-to-equity ratio of 0.61. Hudbay Minerals Inc. has a 1-year low of $3.94 and a 1-year high of $10.49. The stock’s 50-day moving average is $8.98 and its 200 day moving average is $7.63.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Tuesday, May 14th. The mining company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.13. The company had revenue of $524.99 million for the quarter, compared to analysts’ expectations of $463.69 million. Hudbay Minerals had a return on equity of 6.22% and a net margin of 4.36%. On average, sell-side analysts anticipate that Hudbay Minerals Inc. will post 0.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on HBM shares. Jefferies Financial Group lifted their price objective on Hudbay Minerals from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Bank of America upgraded Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price target for the company in a report on Tuesday, April 9th. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. National Bank Financial raised Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 14th. Finally, Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Hudbay Minerals presently has a consensus rating of “Buy” and an average price target of $10.36.

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.