Cumberland Partners Ltd Sells 1,575 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Cumberland Partners Ltd reduced its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 414,700 shares of the mining company’s stock after selling 1,575 shares during the quarter. Cumberland Partners Ltd’s holdings in Hudbay Minerals were worth $3,819,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in HBM. BNP Paribas Financial Markets grew its stake in shares of Hudbay Minerals by 46.3% during the 1st quarter. BNP Paribas Financial Markets now owns 185,166 shares of the mining company’s stock valued at $1,296,000 after purchasing an additional 58,585 shares during the period. Swiss National Bank grew its stake in shares of Hudbay Minerals by 1.4% during the 1st quarter. Swiss National Bank now owns 695,600 shares of the mining company’s stock valued at $4,867,000 after purchasing an additional 9,600 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Hudbay Minerals by 88.8% during the 1st quarter. Russell Investments Group Ltd. now owns 281,015 shares of the mining company’s stock valued at $1,969,000 after purchasing an additional 132,142 shares during the period. Foundry Partners LLC grew its stake in shares of Hudbay Minerals by 11.3% during the 1st quarter. Foundry Partners LLC now owns 1,169,921 shares of the mining company’s stock valued at $8,189,000 after purchasing an additional 118,321 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Hudbay Minerals by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock valued at $60,861,000 after buying an additional 272,635 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors.

Hudbay Minerals Price Performance

NYSE HBM traded down $0.26 during trading hours on Tuesday, reaching $8.46. The company’s stock had a trading volume of 696,612 shares, compared to its average volume of 3,080,567. The firm’s 50-day moving average price is $8.68 and its 200-day moving average price is $8.68. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.47. Hudbay Minerals Inc. has a 1 year low of $4.07 and a 1 year high of $10.49. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 37.87 and a beta of 1.78.

Analysts Set New Price Targets

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

Hudbay Minerals Company Profile

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.