Ashton Thomas Private Wealth LLC Buys New Stake in HudBay Minerals Inc $HBM

Ashton Thomas Private Wealth LLC acquired a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 50,518 shares of the mining company’s stock, valued at approximately $1,348,000.

A number of other large investors have also bought and sold shares of the stock. Royal Bank of Canada lifted its position in shares of HudBay Minerals by 7.8% during the first quarter. Royal Bank of Canada now owns 8,254,831 shares of the mining company’s stock worth $172,526,000 after acquiring an additional 597,422 shares in the last quarter. Wellington Management Group LLP bought a new stake in HudBay Minerals in the second quarter valued at approximately $130,557,000. William Blair Investment Management LLC bought a new stake in shares of HudBay Minerals in the second quarter worth about $99,536,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in HudBay Minerals in the 2nd quarter worth $99,022,000. Finally, Bank of America Corp DE bought a new position in shares of HudBay Minerals in the 2nd quarter worth about $96,341,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

HudBay Minerals Trading Up 8.9%

Shares of HudBay Minerals stock opened at $22.77 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93. The stock has a market cap of $10.12 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62. The firm has a fifty day moving average price of $25.22 and a 200 day moving average price of $24.80. HudBay Minerals Inc has a 1 year low of $14.34 and a 1 year high of $32.15.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HBM. Barclays reaffirmed an “overweight” rating on shares of HudBay Minerals in a report on Tuesday, October 6th. Citigroup reaffirmed a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Weiss Ratings raised HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Sunday, October 25th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

HudBay Minerals Company Profile

Hudbay Minerals, now known as Hudbay Inc, is a mining company focused on the discovery, development and operation of copper and other metal deposits. Its products include copper, zinc, gold, silver and molybdenum.

The company operates the Constancia mine in Peru and mining and processing assets in Manitoba, Canada, including the Lalor mine. In British Columbia, Hudbay operates the Copper Mountain mine. It also advances copper exploration and development projects in the United States, including projects in Arizona.

Hudbay’s roots in Canadian mining date to the Hudson Bay Mining and Smelting Company, established in 1927.