CenterBook Partners LP Takes $2.79 Million Position in HudBay Minerals Inc $HBM

CenterBook Partners LP acquired a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 184,110 shares of the mining company’s stock, valued at approximately $2,791,000.

A number of other institutional investors also recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new position in HudBay Minerals during the 3rd quarter valued at approximately $45,000. Jones Financial Companies Lllp grew 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 buying an additional 3,733 shares during the last quarter. Plato Investment Management Ltd acquired a new position in shares of HudBay Minerals in the 2nd quarter valued at $84,000. Y Intercept Hong Kong Ltd purchased a new position in HudBay Minerals in the 2nd quarter worth $116,000. Finally, Savvy Advisors Inc. acquired a new stake in HudBay Minerals during the 2nd quarter worth about $141,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on HBM shares. Raymond James Financial restated an “outperform” rating on shares of HudBay Minerals in a research note on Wednesday, January 14th. Citigroup lifted their price objective on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Wall Street Zen downgraded shares of 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 report on Monday, January 26th. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $26.00.

HudBay Minerals Stock Performance

NYSE HBM opened at $24.67 on Friday. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of 21.26 and a beta of 1.33. The stock has a 50-day moving average of $22.72 and a 200 day moving average of $17.32. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. HudBay Minerals Inc has a twelve month low of $5.95 and a twelve month high of $28.74.

About HudBay Minerals

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.