Hillsdale Investment Management Inc. boosted its position in Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) by 1.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,438,500 shares of the mining company’s stock after buying an additional 26,000 shares during the period. Hudbay Minerals comprises about 1.9% of Hillsdale Investment Management Inc.’s holdings, making the stock its 13th largest position. Hillsdale Investment Management Inc. owned 0.61% of Hudbay Minerals worth $9,437,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trexquant Investment LP purchased a new position in Hudbay Minerals during the fourth quarter worth approximately $101,000. ARP Americas LLC purchased a new position in Hudbay Minerals during the first quarter worth approximately $140,000. PNC Financial Services Group Inc. purchased a new position in Hudbay Minerals during the third quarter worth approximately $144,000. Acrospire Investment Management LLC boosted its position in Hudbay Minerals by 79.5% in the first quarter. Acrospire Investment Management LLC now owns 24,367 shares of the mining company’s stock worth $160,000 after buying an additional 10,789 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its position in Hudbay Minerals by 160.8% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 48,194 shares of the mining company’s stock worth $275,000 after buying an additional 29,713 shares during the last quarter. 59.61% of the stock is currently owned by institutional investors and hedge funds.
Hudbay Minerals Inc (NYSE:HBM) traded up 2.86% during mid-day trading on Friday, reaching $5.40. 905,934 shares of the company traded hands. Hudbay Minerals Inc has a 52-week low of $3.57 and a 52-week high of $9.15. The stock has a 50 day moving average price of $6.00 and a 200-day moving average price of $6.67. The company’s market capitalization is $1.28 billion.
A number of research analysts have recently commented on the stock. Credit Suisse Group AG reissued a “neutral” rating on shares of Hudbay Minerals in a research report on Tuesday, April 18th. Zacks Investment Research cut shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. TheStreet raised shares of Hudbay Minerals from a “d” rating to a “c-” rating in a research report on Tuesday, February 21st. BMO Capital Markets assumed coverage on shares of Hudbay Minerals in a research report on Thursday, February 2nd. They set a “market perform” rating on the stock. Finally, ValuEngine raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Thursday, May 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Hudbay Minerals has an average rating of “Hold” and a consensus price target of $8.06.
About Hudbay Minerals
Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.
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