Spark Investment Management LLC acquired a new position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 236,000 shares of the mining company’s stock, valued at approximately $1,365,000. Spark Investment Management LLC owned 0.10% of HudBay Minerals at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. TD Asset Management Inc. increased its position in shares of HudBay Minerals by 3.7% in the first quarter. TD Asset Management Inc. now owns 6,185,270 shares of the mining company’s stock worth $40,535,000 after buying an additional 217,949 shares in the last quarter. Vanguard Group Inc. increased its position in shares of HudBay Minerals by 6.4% in the first quarter. Vanguard Group Inc. now owns 4,569,866 shares of the mining company’s stock worth $29,933,000 after buying an additional 276,040 shares in the last quarter. FMR LLC acquired a new position in shares of HudBay Minerals during the first quarter worth about $23,754,000. Bank of Montreal Can increased its position in shares of HudBay Minerals by 29.9% in the first quarter. Bank of Montreal Can now owns 3,534,946 shares of the mining company’s stock worth $23,154,000 after buying an additional 813,675 shares in the last quarter. Finally, AGF Investments Inc. increased its position in shares of HudBay Minerals by 1,778.1% in the first quarter. AGF Investments Inc. now owns 2,048,158 shares of the mining company’s stock worth $13,445,000 after buying an additional 1,939,102 shares in the last quarter. 62.43% of the stock is currently owned by institutional investors.
Shares of HudBay Minerals Inc (NYSE:HBM) traded up 1.94% during mid-day trading on Friday, hitting $7.90. The stock had a trading volume of 686,205 shares. The stock’s 50-day moving average price is $7.01 and its 200-day moving average price is $6.61. The firm has a market cap of $1.87 billion, a PE ratio of 197.50 and a beta of 3.29. HudBay Minerals Inc has a 52-week low of $3.57 and a 52-week high of $9.15.
The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.008 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a dividend yield of 0.22%. HudBay Minerals’s payout ratio is 50.01%.
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A number of research analysts recently weighed in on HBM shares. ValuEngine raised HudBay Minerals from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday. BidaskClub raised HudBay Minerals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Zacks Investment Research downgraded HudBay Minerals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, TheStreet raised HudBay Minerals from a “d+” rating to a “c-” rating in a research note on Monday, August 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. HudBay Minerals presently has an average rating of “Hold” and an average price target of $8.06.
HudBay Minerals Company Profile
Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.
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