Entropy Technologies LP Makes New $587,000 Investment in Hudbay Minerals Inc. (NYSE:HBM)

Entropy Technologies LP bought a new stake in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 63,900 shares of the mining company's stock, valued at approximately $587,000.

Several other institutional investors and hedge funds have also made changes to their positions in HBM. Vanguard Group Inc. increased its position in Hudbay Minerals by 3.2% during the first quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company's stock worth $60,861,000 after buying an additional 272,635 shares during the period. BNP Paribas Financial Markets raised its position in Hudbay Minerals by 46.3% in the 1st quarter. BNP Paribas Financial Markets now owns 185,166 shares of the mining company's stock valued at $1,296,000 after purchasing an additional 58,585 shares during the last quarter. Boston Partners grew its position in Hudbay Minerals by 29.1% during the 1st quarter. Boston Partners now owns 552,226 shares of the mining company's stock worth $3,866,000 after purchasing an additional 124,376 shares during the last quarter. Russell Investments Group Ltd. grew its position in Hudbay Minerals by 88.8% during the 1st quarter. Russell Investments Group Ltd. now owns 281,015 shares of the mining company's stock worth $1,969,000 after purchasing an additional 132,142 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new position in Hudbay Minerals in the third quarter valued at $20,907,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Price Performance

Shares of NYSE HBM traded down $0.01 during trading on Friday, hitting $8.52. 2,600,431 shares of the company were exchanged, compared to its average volume of 3,117,713. The firm's fifty day moving average price is $8.76 and its 200 day moving average price is $8.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.86 and a quick ratio of 1.49. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 37.09 and a beta of 1.78. Hudbay Minerals Inc. has a 1 year low of $4.27 and a 1 year high of $10.49.

Wall Street Analysts Forecast Growth

HBM has been the topic of a number of research reports. Stifel Canada raised Hudbay Minerals to a "strong-buy" rating in a report on Monday, July 22nd. StockNews.com lowered Hudbay Minerals from a "buy" rating to a "hold" rating in a report on Tuesday, August 13th. Finally, Jefferies Financial Group raised Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Wednesday, August 14th. One analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price 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.