Allianz Asset Management GmbH decreased its position in Hudbay Minerals Inc. (NYSE:HBM – Get Rating) (TSE:HBM) by 57.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,146,018 shares of the mining company’s stock after selling 1,577,256 shares during the period. Allianz Asset Management GmbH owned about 0.44% of Hudbay Minerals worth $4,637,000 at the end of the most recent quarter.
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Other hedge funds and other institutional investors have also made changes to their positions in the company. Grayhawk Investment Strategies Inc. purchased a new stake in shares of Hudbay Minerals in the second quarter valued at about $31,000. US Bancorp DE lifted its stake in shares of Hudbay Minerals by 122.4% in the first quarter. US Bancorp DE now owns 7,899 shares of the mining company’s stock valued at $62,000 after purchasing an additional 4,347 shares during the period. Meridian Wealth Management LLC acquired a new stake in shares of Hudbay Minerals in the second quarter valued at about $49,000. Creative Planning lifted its stake in shares of Hudbay Minerals by 64.1% in the second quarter. Creative Planning now owns 16,409 shares of the mining company’s stock valued at $67,000 after purchasing an additional 6,409 shares during the period. Finally, ClariVest Asset Management LLC acquired a new stake in shares of Hudbay Minerals in the second quarter valued at about $67,000. Hedge funds and other institutional investors own 80.19% of the company’s stock.
Hudbay Minerals Stock Performance
Shares of HBM opened at $5.06 on Monday. The company has a 50-day moving average of $5.49 and a two-hundred day moving average of $4.80. The company has a current ratio of 1.24, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.33 billion, a P/E ratio of 17.45, a PEG ratio of 0.61 and a beta of 1.94. Hudbay Minerals Inc. has a 12-month low of $3.08 and a 12-month high of $8.75.
Wall Street Analyst Weigh In
Several analysts recently commented on HBM shares. TheStreet upgraded shares of Hudbay Minerals from a “d” rating to a “c” rating in a research note on Friday, November 11th. Credit Suisse Group raised their price objective on shares of Hudbay Minerals from C$8.50 to C$9.00 in a research note on Thursday, February 2nd. National Bank Financial raised their price objective on shares of Hudbay Minerals from C$7.50 to C$8.50 in a research note on Monday, January 9th. StockNews.com cut shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Friday, January 13th. Finally, Scotiabank cut their target price on shares of Hudbay Minerals from C$11.00 to C$10.00 in a research report on Tuesday, February 7th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.44.
Hudbay Minerals Profile
Hudbay Minerals, Inc operates as a mining company. The firm engages in the production of copper concentrate, molybdenum concentrate and zinc metal. It focuses on the discovery, production and marketing of base and precious metals. The company was founded on January 16, 1996 and is headquartered in Toronto, Canada.
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