Aigen Investment Management LP Lowers Stake in Hudbay Minerals Inc. (NYSE:HBM)

Aigen Investment Management LP lessened its position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 70.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 43,535 shares of the mining company’s stock after selling 102,382 shares during the period. Aigen Investment Management LP’s holdings in Hudbay Minerals were worth $400,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of HBM. Regal Partners Ltd acquired a new position in Hudbay Minerals in the 2nd quarter valued at $22,956,000. Artemis Investment Management LLP acquired a new position in Hudbay Minerals in the third quarter valued at $20,907,000. TD Asset Management Inc lifted its position in Hudbay Minerals by 199.4% during the second quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock worth $26,294,000 after buying an additional 1,935,709 shares during the period. Cubist Systematic Strategies LLC boosted its stake in Hudbay Minerals by 2,521.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock worth $15,861,000 after buying an additional 1,685,836 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in shares of Hudbay Minerals during the 2nd quarter valued at about $14,718,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Trading Down 1.2 %

NYSE HBM opened at $8.53 on Friday. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 37.09 and a beta of 1.78. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.86. Hudbay Minerals Inc. has a one year low of $4.27 and a one year high of $10.49. The company’s 50 day moving average price is $8.76 and its 200 day moving average price is $8.68.

Analysts Set New Price Targets

Several research firms recently issued reports on HBM. Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. StockNews.com lowered shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $11.17.

About Hudbay Minerals

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.