M&G PLC Acquires New Shares in HudBay Minerals Inc $HBM

M&G PLC acquired a new position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) in the third quarter, HoldingsChannel reports. The fund acquired 899,304 shares of the mining company’s stock, valued at approximately $13,567,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Global Retirement Partners LLC bought a new stake in shares of HudBay Minerals in the 3rd quarter valued at about $45,000. Jones Financial Companies Lllp increased its holdings in 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 period. Plato Investment Management Ltd purchased a new position in HudBay Minerals during the second quarter valued at approximately $84,000. Y Intercept Hong Kong Ltd bought a new position in HudBay Minerals in the second quarter worth approximately $116,000. Finally, Savvy Advisors Inc. purchased a new stake in HudBay Minerals during the second quarter worth $141,000. 57.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Weiss Ratings raised HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research note on Sunday, December 7th. Zacks Research raised HudBay Minerals from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of HudBay Minerals in a research report on Monday, November 17th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $26.00.

HudBay Minerals Stock Up 2.7%

HudBay Minerals stock opened at $26.08 on Tuesday. HudBay Minerals Inc has a 1-year low of $5.95 and a 1-year high of $28.74. The business has a fifty day moving average price of $22.31 and a 200-day moving average price of $17.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.97 and a quick ratio of 0.76. The stock has a market capitalization of $10.35 billion, a price-to-earnings ratio of 22.48 and a beta of 1.33.

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.