Algert Global LLC acquired a new stake in Hudbay Minerals Inc. (NYSE:HBM – Free Report) (TSE:HBM) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 12,256 shares of the mining company’s stock, valued at approximately $111,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Regal Partners Ltd purchased a new position in Hudbay Minerals in the 2nd quarter worth approximately $22,956,000. TD Asset Management Inc increased its stake in shares of Hudbay Minerals by 199.4% in the second quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock worth $26,294,000 after buying an additional 1,935,709 shares during the period. Galibier Capital Management Ltd. purchased a new stake in Hudbay Minerals during the 1st quarter valued at $12,604,000. Cubist Systematic Strategies LLC boosted its position in Hudbay Minerals by 2,521.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock valued at $15,861,000 after buying an additional 1,685,836 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in shares of Hudbay Minerals in the second quarter valued at about $14,718,000. Institutional investors own 57.82% of the company’s stock.
Hudbay Minerals Stock Performance
Hudbay Minerals stock opened at $9.37 on Friday. Hudbay Minerals Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $10.49. The stock’s 50 day simple moving average is $8.02 and its two-hundred day simple moving average is $8.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.86. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 40.74 and a beta of 1.77.
Hudbay Minerals Cuts Dividend
Wall Street Analysts Forecast Growth
HBM has been the subject of a number of analyst reports. StockNews.com lowered shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Finally, Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $11.17.
Read Our Latest Analysis on Hudbay Minerals
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.
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