State of Tennessee Treasury Department Buys New Holdings in HudBay Minerals Inc (HBM)
State of Tennessee Treasury Department acquired a new stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 207,599 shares of the mining company’s stock, valued at approximately $1,536,000. State of Tennessee Treasury Department owned 0.09% of HudBay Minerals at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trexquant Investment LP increased its position in shares of HudBay Minerals by 78.7% during the second quarter. Trexquant Investment LP now owns 18,768 shares of the mining company’s stock valued at $108,000 after purchasing an additional 8,268 shares during the period. Brave Asset Management Inc. bought a new stake in shares of HudBay Minerals in the second quarter worth about $121,000. Quantbot Technologies LP increased its holdings in shares of HudBay Minerals by 37.3% in the second quarter. Quantbot Technologies LP now owns 24,912 shares of the mining company’s stock worth $143,000 after acquiring an additional 6,769 shares in the last quarter. ARP Americas LLC increased its holdings in shares of HudBay Minerals by 85.9% in the second quarter. ARP Americas LLC now owns 39,600 shares of the mining company’s stock worth $229,000 after acquiring an additional 18,300 shares in the last quarter. Finally, Guardian Capital Advisors LP grew its holdings in shares of HudBay Minerals by 73.6% during the second quarter. Guardian Capital Advisors LP now owns 40,583 shares of the mining company’s stock worth $336,000 after buying an additional 17,200 shares in the last quarter. Institutional investors and hedge funds own 60.61% of the company’s stock.
Shares of HudBay Minerals Inc (NYSE HBM) opened at $7.70 on Wednesday. HudBay Minerals Inc has a 52-week low of $4.60 and a 52-week high of $9.35. The firm has a market cap of $1,972.60, a P/E ratio of 19.87 and a beta of 3.21. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.74 and a quick ratio of 1.33.
A number of equities analysts have commented on HBM shares. ValuEngine lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Credit Suisse Group boosted their price objective on HudBay Minerals from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Monday, September 11th. J P Morgan Chase & Co raised HudBay Minerals from a “neutral” rating to an “overweight” rating in a research note on Tuesday, September 5th. Zacks Investment Research raised HudBay Minerals from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, TheStreet raised HudBay Minerals from a “d+” rating to a “c-” rating in a report on Monday, August 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $9.79.
HudBay Minerals Profile
Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.
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