CenterBook Partners LP Acquires Shares of 184,110 HudBay Minerals Inc $HBM

CenterBook Partners LP bought 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 184,110 shares of the mining company’s stock, valued at approximately $2,791,000.

Several other hedge funds have also recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new stake in HudBay Minerals in the 3rd quarter worth about $45,000. Jones Financial Companies Lllp raised its holdings in shares of HudBay Minerals by 131.6% during the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after acquiring an additional 3,733 shares during the last quarter. Plato Investment Management Ltd acquired a new position in shares of HudBay Minerals during the second quarter valued at approximately $84,000. Y Intercept Hong Kong Ltd purchased a new position in shares of HudBay Minerals in the second quarter valued at approximately $116,000. Finally, Savvy Advisors Inc. acquired a new stake in shares of HudBay Minerals in the second quarter worth approximately $141,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, January 15th. Weiss Ratings upgraded shares of HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Zacks Research downgraded shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. UBS Group started coverage on shares of HudBay Minerals in a research note on Thursday, January 8th. They set a “buy” rating for the company. Finally, Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research note on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $26.00.

HudBay Minerals Price Performance

NYSE:HBM opened at $24.67 on Friday. HudBay Minerals Inc has a 52 week low of $5.95 and a 52 week high of $28.74. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $9.79 billion, a P/E ratio of 21.26 and a beta of 1.33. The stock’s fifty day moving average is $22.72 and its two-hundred day moving average is $17.32.

HudBay Minerals 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.