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

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

Other large investors have also added to or reduced their stakes in the company. Waterfront Wealth Inc. boosted its holdings in shares of HudBay Minerals by 2.0% in the 3rd quarter. Waterfront Wealth Inc. now owns 39,052 shares of the mining company’s stock worth $588,000 after purchasing an additional 756 shares in the last quarter. Savant Capital LLC raised its holdings in shares of HudBay Minerals by 2.4% during the 3rd quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock valued at $485,000 after buying an additional 760 shares in the last quarter. Creative Planning lifted its position in HudBay Minerals by 5.4% in the 2nd quarter. Creative Planning now owns 25,067 shares of the mining company’s stock worth $266,000 after buying an additional 1,289 shares during the last quarter. Strong Tower Advisory Services boosted its stake in HudBay Minerals by 2.4% in the third quarter. Strong Tower Advisory Services now owns 94,175 shares of the mining company’s stock worth $1,428,000 after buying an additional 2,182 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new position in HudBay Minerals during the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Down 3.6%

NYSE:HBM opened at $25.16 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.97. The firm has a market cap of $9.98 billion, a P/E ratio of 21.69 and a beta of 1.33. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $28.74. The firm has a 50-day simple moving average of $22.46 and a two-hundred day simple moving average of $17.21.

Analyst Ratings Changes

Several research firms have commented on HBM. Weiss Ratings raised shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Wall Street Zen downgraded HudBay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th. Citigroup raised their target price on shares of HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, January 15th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, HudBay Minerals has a consensus rating of “Buy” and an average price target of $26.00.

HudBay Minerals Company Profile

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.