Letko Brosseau & Associates Inc. Sells 512,270 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Letko Brosseau & Associates Inc. lessened its stake in Hudbay Minerals Inc. (NYSE:HBMFree Report) (TSE:HBM) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,455,192 shares of the mining company’s stock after selling 512,270 shares during the period. Hudbay Minerals makes up about 1.5% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 24th biggest holding. Letko Brosseau & Associates Inc. owned 6.28% of Hudbay Minerals worth $78,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Osaic Holdings Inc. grew its position in Hudbay Minerals by 290.9% in the second quarter. Osaic Holdings Inc. now owns 8,185 shares of the mining company’s stock worth $39,000 after acquiring an additional 6,091 shares in the last quarter. Grayhawk Investment Strategies Inc. boosted its holdings in shares of Hudbay Minerals by 7,178.0% in the 1st quarter. Grayhawk Investment Strategies Inc. now owns 5,968 shares of the mining company’s stock worth $42,000 after purchasing an additional 5,886 shares in the last quarter. Redwood Wealth Management Group LLC bought a new position in shares of Hudbay Minerals during the 2nd quarter valued at about $52,000. Deutsche Bank AG purchased a new position in shares of Hudbay Minerals during the 4th quarter valued at about $55,000. Finally, Envestnet Asset Management Inc. bought a new stake in Hudbay Minerals in the 2nd quarter worth approximately $60,000. Institutional investors own 60.26% of the company’s stock.

Hudbay Minerals Trading Up 4.4 %

HBM traded up $0.19 during trading on Monday, hitting $4.51. 643,763 shares of the stock traded hands, compared to its average volume of 2,564,804. The firm has a market capitalization of $1.57 billion, a P/E ratio of 144.05, a price-to-earnings-growth ratio of 0.86 and a beta of 1.98. Hudbay Minerals Inc. has a 12-month low of $3.94 and a 12-month high of $6.34. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.78. The firm has a 50-day moving average of $4.54 and a 200 day moving average of $4.82.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $10.00 price target on shares of Hudbay Minerals in a research report on Monday, October 2nd. TD Securities reduced their target price on shares of Hudbay Minerals from $11.00 to $10.50 and set a “buy” rating on the stock in a report on Tuesday, September 12th. Scotiabank boosted their price target on shares of Hudbay Minerals from $10.00 to $10.50 and gave the stock a “sector outperform” rating in a research note on Tuesday, September 19th. Credit Suisse Group cut their price target on shares of Hudbay Minerals from $9.00 to $8.00 and set an “outperform” rating for the company in a research report on Monday, August 21st. Finally, StockNews.com started coverage on Hudbay Minerals in a report on Thursday, October 5th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.55.

View Our Latest Stock Report on Hudbay Minerals

About Hudbay Minerals

(Free Report)

Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing copper, gold, and silver; zinc concentrates; zinc metal; and gold and silver doré and molybdenum concentrates.

See Also

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

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