Morgan Stanley Decreases Stake in Hudbay Minerals Inc (HBM)

Morgan Stanley cut its holdings in Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) by 19.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,360,005 shares of the mining company’s stock after selling 329,126 shares during the period. Morgan Stanley owned about 0.52% of Hudbay Minerals worth $6,869,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Letko Brosseau & Associates Inc. lifted its position in Hudbay Minerals by 14.8% in the 3rd quarter. Letko Brosseau & Associates Inc. now owns 31,712,001 shares of the mining company’s stock valued at $160,449,000 after purchasing an additional 4,093,825 shares during the last quarter. BlackRock Inc. lifted its position in Hudbay Minerals by 131.1% in the 2nd quarter. BlackRock Inc. now owns 35,456 shares of the mining company’s stock valued at $199,000 after purchasing an additional 20,113 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Hudbay Minerals by 140.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 33,356 shares of the mining company’s stock worth $169,000 after buying an additional 19,477 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Hudbay Minerals during the 3rd quarter worth about $2,076,000. Finally, Man Group plc raised its position in shares of Hudbay Minerals by 175.9% during the 3rd quarter. Man Group plc now owns 1,887,289 shares of the mining company’s stock worth $9,549,000 after buying an additional 1,203,146 shares in the last quarter. 52.22% of the stock is owned by institutional investors and hedge funds.

HBM has been the topic of a number of recent analyst reports. Raymond James restated a “buy” rating on shares of Hudbay Minerals in a research report on Friday, November 2nd. Royal Bank of Canada downgraded shares of Hudbay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, December 12th. BMO Capital Markets initiated coverage on shares of Hudbay Minerals in a research report on Tuesday, January 8th. They set an “outperform” rating on the stock. ValuEngine upgraded shares of Hudbay Minerals from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. Finally, CIBC restated a “neutral” rating on shares of Hudbay Minerals in a research report on Sunday, January 20th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Hudbay Minerals presently has a consensus rating of “Buy” and an average price target of $6.92.

Shares of HBM opened at $5.98 on Monday. The company has a market capitalization of $1.50 billion, a PE ratio of 10.49 and a beta of 2.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.98 and a current ratio of 2.44. Hudbay Minerals Inc has a 12-month low of $3.44 and a 12-month high of $8.85.

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Hudbay Minerals Company Profile

Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, the United States.

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

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