CenterBook Partners LP purchased a new position in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 45,906 shares of the mining company's stock, valued at approximately $1,225,000.
Other institutional investors also recently added to or reduced their stakes in the company. Quantinno Capital Management LP increased its holdings in shares of HudBay Minerals by 6.0% in the 1st quarter. Quantinno Capital Management LP now owns 11,597 shares of the mining company's stock valued at $242,000 after acquiring an additional 657 shares during the period. Wealthcare Advisory Partners LLC boosted its stake in HudBay Minerals by 2.7% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 37,766 shares of the mining company's stock worth $892,000 after purchasing an additional 992 shares during the period. Rakuten Securities Inc. acquired a new stake in HudBay Minerals during the 2nd quarter worth $28,000. Bullseye Investment Management LLC purchased a new position in HudBay Minerals during the 2nd quarter worth $30,000. Finally, Fiduciary Financial Advisors purchased a new position in HudBay Minerals during the 2nd quarter worth $32,000. Institutional investors and hedge funds own 57.82% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on HBM. Scotiabank reiterated an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, July 30th. Barclays reaffirmed an "overweight" rating on shares of HudBay Minerals in a research note on Tuesday, October 6th. Citigroup reaffirmed a "positive" rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Wall Street Zen cut HudBay Minerals from a "buy" rating to a "hold" rating in a research report on Sunday, October 25th. Finally, Weiss Ratings upgraded HudBay Minerals from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $31.33.
Read Our Latest Stock Analysis on HBM
HudBay Minerals Stock Up 8.9%
HBM stock opened at $22.77 on Tuesday. HudBay Minerals Inc has a one year low of $14.34 and a one year high of $32.15. The stock has a market capitalization of $10.12 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24. The company has a fifty day moving average of $25.22 and a 200-day moving average of $24.80.
HudBay Minerals Profile
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Free Report)
Hudbay Minerals, now known as Hudbay Inc, is a mining company focused on the discovery, development and operation of copper and other metal deposits. Its products include copper, zinc, gold, silver and molybdenum.
The company operates the Constancia mine in Peru and mining and processing assets in Manitoba, Canada, including the Lalor mine. In British Columbia, Hudbay operates the Copper Mountain mine. It also advances copper exploration and development projects in the United States, including projects in Arizona.
Hudbay's roots in Canadian mining date to the Hudson Bay Mining and Smelting Company, established in 1927.
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