38,800 Shares in HudBay Minerals Inc $HBM Purchased by SCP Investment LP

SCP Investment LP acquired a new position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 38,800 shares of the mining company’s stock, valued at approximately $588,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of HBM. Triasima Portfolio Management inc. purchased a new position in shares of HudBay Minerals in the third quarter worth about $8,057,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of HudBay Minerals during the 3rd quarter valued at approximately $1,454,000. L1 Capital Pty Ltd boosted its holdings in HudBay Minerals by 4.4% in the 2nd quarter. L1 Capital Pty Ltd now owns 15,054,087 shares of the mining company’s stock worth $159,864,000 after buying an additional 630,703 shares during the period. Precision Wealth Strategies LLC purchased a new position in HudBay Minerals in the 3rd quarter valued at approximately $855,000. Finally, Franklin Resources Inc. grew its stake in HudBay Minerals by 7.9% in the 2nd quarter. Franklin Resources Inc. now owns 833,163 shares of the mining company’s stock valued at $8,844,000 after buying an additional 60,942 shares in the last quarter. 57.82% of the stock is owned by institutional investors.

HudBay Minerals Stock Performance

Shares of HBM opened at $25.16 on Wednesday. HudBay Minerals Inc has a 12-month low of $5.95 and a 12-month high of $28.74. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. The company has a market cap of $9.98 billion, a PE ratio of 21.69 and a beta of 1.33. The stock has a 50-day moving average price of $22.46 and a 200-day moving average price of $17.21.

Analyst Ratings Changes

HBM has been the subject of a number of analyst reports. UBS Group began coverage on HudBay Minerals in a report on Thursday, January 8th. They issued a “buy” rating for the company. Wall Street Zen cut HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Raymond James Financial reaffirmed an “outperform” rating on shares of HudBay Minerals in a report on Wednesday, January 14th. Weiss Ratings upgraded HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Finally, National Bank Financial lowered shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $26.00.

About HudBay Minerals

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.