BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Stock Position in Hudbay Minerals Inc. (NYSE:HBM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 444.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,244,192 shares of the mining company’s stock after purchasing an additional 1,015,607 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.32% of Hudbay Minerals worth $11,261,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Regal Partners Ltd bought a new stake in Hudbay Minerals during the 2nd quarter valued at about $22,956,000. TD Asset Management Inc raised its stake in shares of 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 valued at $26,294,000 after acquiring an additional 1,935,709 shares in the last quarter. Galibier Capital Management Ltd. purchased a new stake in shares of Hudbay Minerals in the first quarter valued at approximately $12,604,000. American Century Companies Inc. increased its holdings in Hudbay Minerals by 239.3% during the 2nd quarter. American Century Companies Inc. now owns 2,044,720 shares of the mining company’s stock worth $18,503,000 after purchasing an additional 1,442,140 shares during the period. Finally, Jennison Associates LLC raised its position in Hudbay Minerals by 92.7% during the 1st quarter. Jennison Associates LLC now owns 2,821,920 shares of the mining company’s stock valued at $19,757,000 after purchasing an additional 1,357,241 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HBM. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. StockNews.com downgraded shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Hudbay Minerals has a consensus rating of “Buy” and a consensus price target of $10.88.

Hudbay Minerals Stock Down 0.7 %

Shares of Hudbay Minerals stock opened at $8.76 on Thursday. Hudbay Minerals Inc. has a 52-week low of $3.94 and a 52-week high of $10.49. The firm’s 50 day moving average price is $7.70 and its 200-day moving average price is $8.20. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.47. The company has a market cap of $3.45 billion, a P/E ratio of 38.07 and a beta of 1.77.

Hudbay Minerals Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.007 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a dividend yield of 0.2%. Hudbay Minerals’s dividend payout ratio is presently 4.35%.

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.