MQS Management LLC Acquires 2,592 Shares of Hudbay Minerals Inc. (NYSE:HBM)

MQS Management LLC increased its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 8.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,231 shares of the mining company’s stock after buying an additional 2,592 shares during the quarter. MQS Management LLC’s holdings in Hudbay Minerals were worth $315,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Regal Partners Ltd bought a new stake in Hudbay Minerals during the 2nd quarter worth about $22,956,000. Artemis Investment Management LLP bought a new stake in shares of Hudbay Minerals in the 3rd quarter valued at about $20,907,000. TD Asset Management Inc raised its holdings in Hudbay Minerals by 199.4% in the second quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock worth $26,294,000 after purchasing an additional 1,935,709 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in Hudbay Minerals by 2,521.9% during the second quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock worth $15,861,000 after acquiring an additional 1,685,836 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new position in shares of Hudbay Minerals during the 2nd quarter valued at about $14,718,000. 57.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HBM shares. StockNews.com lowered shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Finally, Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Stock Performance

NYSE HBM opened at $8.53 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $3.36 billion, a P/E ratio of 37.09 and a beta of 1.78. The firm has a 50-day moving average price of $8.76 and a two-hundred day moving average price of $8.68. Hudbay Minerals Inc. has a 12-month low of $4.27 and a 12-month high of $10.49.

About Hudbay Minerals

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