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

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

Other hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new stake in shares of Hudbay Minerals in the 3rd quarter worth $53,000. Clear Harbor Asset Management LLC acquired a new stake in shares of Hudbay Minerals in the 3rd quarter worth $92,000. Ritholtz Wealth Management acquired a new stake in shares of Hudbay Minerals in the 2nd quarter worth $96,000. Armistice Capital LLC acquired a new stake in shares of Hudbay Minerals in the 2nd quarter worth $97,000. Finally, Liontrust Investment Partners LLP acquired a new stake in shares of Hudbay Minerals in the second quarter valued at about $100,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

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

Hudbay Minerals Stock Performance

NYSE:HBM opened at $8.53 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $8.76 and a two-hundred day moving average price of $8.68. Hudbay Minerals Inc. has a twelve month low of $4.27 and a twelve month high of $10.49. The company has a market capitalization of $3.36 billion, a P/E ratio of 37.09 and a beta of 1.78.

Hudbay Minerals Company Profile

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.