Hudbay Minerals Inc. (NYSE:HBM) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its position in shares of Hudbay Minerals Inc. (NYSE:HBMGet Rating) (TSE:HBM) by 3.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 493,079 shares of the mining company’s stock after selling 19,446 shares during the quarter. Mackenzie Financial Corp’s holdings in Hudbay Minerals were worth $2,007,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Belvedere Trading LLC increased its position in Hudbay Minerals by 36.8% during the second quarter. Belvedere Trading LLC now owns 34,350 shares of the mining company’s stock worth $122,000 after buying an additional 9,249 shares during the period. Aigen Investment Management LP acquired a new position in Hudbay Minerals during the first quarter worth approximately $640,000. Swiss National Bank increased its position in Hudbay Minerals by 7.7% during the first quarter. Swiss National Bank now owns 528,900 shares of the mining company’s stock worth $4,150,000 after buying an additional 37,600 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Hudbay Minerals in the first quarter valued at approximately $342,000. Finally, Black Swift Group LLC acquired a new position in shares of Hudbay Minerals in the second quarter valued at approximately $302,000. Institutional investors and hedge funds own 66.69% of the company’s stock.

Hudbay Minerals Stock Up 4.6 %

Hudbay Minerals stock opened at $5.50 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.24 and a quick ratio of 0.92. Hudbay Minerals Inc. has a 1-year low of $3.08 and a 1-year high of $8.75. The company has a market cap of $1.44 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.04 and a beta of 1.78. The stock’s 50 day moving average price is $4.36 and its 200 day moving average price is $4.48.

Analysts Set New Price Targets

HBM has been the topic of a number of recent research reports. BMO Capital Markets dropped their target price on Hudbay Minerals from C$13.00 to C$12.50 in a report on Tuesday, August 9th. TheStreet raised Hudbay Minerals from a “d” rating to a “c” rating in a report on Friday, November 11th. National Bank Financial dropped their target price on Hudbay Minerals from C$7.75 to C$7.50 in a report on Thursday, October 13th. Credit Suisse Group dropped their target price on Hudbay Minerals from C$7.50 to C$7.00 in a report on Thursday, September 8th. Finally, Raymond James boosted their target price on Hudbay Minerals from C$8.00 to C$9.00 in a report on Wednesday, August 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $9.83.

Hudbay Minerals Company Profile

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Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; silver/gold doré; molybdenum concentrates; and zinc metals.

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Institutional Ownership by Quarter for Hudbay Minerals (NYSE:HBM)

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