Bard Associates Inc. Sells 1,954 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Bard Associates Inc. reduced its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 3.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 51,621 shares of the mining company’s stock after selling 1,954 shares during the quarter. Bard Associates Inc.’s holdings in Hudbay Minerals were worth $474,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HBM. Regal Partners Ltd increased its position in shares of Hudbay Minerals by 5.4% in the third quarter. Regal Partners Ltd now owns 2,673,518 shares of the mining company’s stock valued at $24,570,000 after acquiring an additional 136,943 shares during the period. MQS Management LLC grew its stake in shares of Hudbay Minerals by 8.2% in the third quarter. MQS Management LLC now owns 34,231 shares of the mining company’s stock worth $315,000 after purchasing an additional 2,592 shares during the last quarter. Entropy Technologies LP purchased a new position in Hudbay Minerals during the 3rd quarter valued at about $587,000. Meritage Portfolio Management bought a new position in Hudbay Minerals during the 3rd quarter valued at approximately $6,743,000. Finally, CWA Asset Management Group LLC purchased a new stake in Hudbay Minerals in the 3rd quarter worth approximately $527,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Price Performance

HBM opened at $8.53 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 37.09 and a beta of 1.78. The stock has a fifty day simple moving average of $8.76 and a two-hundred day simple moving average of $8.68. Hudbay Minerals Inc. has a 12-month low of $4.27 and a 12-month high of $10.49.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Finally, StockNews.com cut shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target 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.