Cubist Systematic Strategies LLC Reduces Stake in HudBay Minerals Inc (HBM)
Cubist Systematic Strategies LLC trimmed its stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 85.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,180 shares of the mining company’s stock after selling 110,500 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in HudBay Minerals were worth $105,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in HBM. GMT Capital Corp raised its position in shares of HudBay Minerals by 13.7% during the 2nd quarter. GMT Capital Corp now owns 30,599,600 shares of the mining company’s stock worth $172,813,000 after purchasing an additional 3,678,300 shares during the period. FMR LLC acquired a new stake in shares of HudBay Minerals during the 1st quarter worth approximately $23,754,000. Commonwealth Bank of Australia acquired a new stake in shares of HudBay Minerals during the 2nd quarter worth approximately $9,092,000. Letko Brosseau & Associates Inc. raised its position in shares of HudBay Minerals by 5.7% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 27,363,164 shares of the mining company’s stock worth $158,022,000 after purchasing an additional 1,469,514 shares during the period. Finally, AGF Investments Inc. raised its position in shares of HudBay Minerals by 26.2% during the 2nd quarter. AGF Investments Inc. now owns 2,585,096 shares of the mining company’s stock worth $14,959,000 after purchasing an additional 536,938 shares during the period. Institutional investors and hedge funds own 65.44% of the company’s stock.
HudBay Minerals Inc (NYSE HBM) opened at $7.95 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.33 and a current ratio of 1.74. The stock has a market capitalization of $2,116.30, a price-to-earnings ratio of 21.32 and a beta of 3.21. HudBay Minerals Inc has a one year low of $4.45 and a one year high of $9.35.
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A number of analysts have recently weighed in on the company. Zacks Investment Research upgraded HudBay Minerals from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. TheStreet raised HudBay Minerals from a “d+” rating to a “c-” rating in a report on Monday, August 14th. BMO Capital Markets increased their price objective on HudBay Minerals from $10.50 to $10.75 and gave the stock a “market perform” rating in a report on Monday, October 2nd. ValuEngine lowered HudBay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Raymond James Financial, Inc. reissued an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $9.39.
HudBay Minerals Company 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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