M&G PLC Takes Position in HudBay Minerals Inc $HBM

M&G PLC bought a new stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 899,304 shares of the mining company’s stock, valued at approximately $13,567,000. M&G PLC owned about 0.23% of HudBay Minerals as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of HBM. Vanguard Group Inc. increased its position in HudBay Minerals by 2.4% during the third quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock valued at $245,355,000 after acquiring an additional 373,399 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of HudBay Minerals by 10.4% during the 3rd quarter. HighTower Advisors LLC now owns 258,606 shares of the mining company’s stock worth $3,920,000 after purchasing an additional 24,451 shares during the period. Baader Bank Aktiengesellschaft bought a new position in HudBay Minerals during the 3rd quarter valued at about $700,000. Waterfront Wealth Inc. grew its holdings in HudBay Minerals by 2.0% during the 3rd quarter. Waterfront Wealth Inc. now owns 39,052 shares of the mining company’s stock valued at $588,000 after purchasing an additional 756 shares during the last quarter. Finally, Plato Investment Management Ltd raised its position in HudBay Minerals by 152.0% in the 3rd quarter. Plato Investment Management Ltd now owns 20,117 shares of the mining company’s stock worth $302,000 after purchasing an additional 12,134 shares during the period. 57.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on HBM shares. Weiss Ratings upgraded HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Raymond James Financial reissued an “outperform” rating on shares of HudBay Minerals in a research note on Wednesday, January 14th. Zacks Research upgraded HudBay Minerals from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. UBS Group started coverage on HudBay Minerals in a research report on Thursday, January 8th. They issued a “buy” rating on the stock. Finally, National Bank Financial lowered HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, January 28th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, HudBay Minerals has a consensus rating of “Buy” and an average price target of $26.00.

HudBay Minerals Stock Up 2.7%

Shares of NYSE HBM opened at $26.08 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.97. The firm has a market capitalization of $10.35 billion, a price-to-earnings ratio of 22.48 and a beta of 1.33. The stock has a 50 day moving average price of $22.31 and a 200 day moving average price of $17.10. HudBay Minerals Inc has a 52-week low of $5.95 and a 52-week high of $28.74.

About HudBay Minerals

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.