BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 52,214 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Posted by on Jun 4th, 2023

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in Hudbay Minerals Inc. (NYSE:HBM – Get Rating) (TSE:HBM) by 24.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 160,081 shares of the mining company’s stock after selling 52,214 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.06% of Hudbay Minerals worth $809,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PCJ Investment Counsel Ltd. purchased a new stake in shares of Hudbay Minerals in the fourth quarter worth approximately $2,288,000. Cumberland Partners Ltd raised its holdings in shares of Hudbay Minerals by 5.7% in the fourth quarter. Cumberland Partners Ltd now owns 551,500 shares of the mining company’s stock worth $2,784,000 after buying an additional 29,900 shares during the period. Letko Brosseau & Associates Inc. raised its holdings in shares of Hudbay Minerals by 19.9% in the third quarter. Letko Brosseau & Associates Inc. now owns 17,105,962 shares of the mining company’s stock worth $69,218,000 after buying an additional 2,838,400 shares during the period. Decade Renewable Partners LP purchased a new stake in shares of Hudbay Minerals in the fourth quarter worth approximately $3,749,000. Finally, EdgePoint Investment Group Inc. purchased a new stake in shares of Hudbay Minerals in the third quarter worth approximately $31,550,000. 80.19% of the stock is currently owned by hedge funds and other institutional investors.

Hudbay Minerals Stock Up 7.9 %

Hudbay Minerals stock opened at $4.77 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.21 and a quick ratio of 0.82. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 119.28, a PEG ratio of 0.65 and a beta of 1.96. Hudbay Minerals Inc. has a 1-year low of $3.08 and a 1-year high of $6.34. The business has a fifty day moving average price of $4.94 and a 200-day moving average price of $5.18.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on HBM shares. National Bank Financial increased their price target on Hudbay Minerals from C$8.50 to C$8.75 in a report on Monday, February 13th. Stifel Nicolaus started coverage on Hudbay Minerals in a report on Thursday, May 18th. They set a “buy” rating on the stock. StockNews.com started coverage on Hudbay Minerals in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Scotiabank reduced their price objective on Hudbay Minerals from C$11.00 to C$10.00 in a report on Tuesday, February 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.11.

Hudbay Minerals Profile

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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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Institutional Ownership by Quarter for Hudbay Minerals (NYSE:HBM)

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