Decade Renewable Partners LP Raises Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Decade Renewable Partners LP boosted its position in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 72.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,637,845 shares of the mining company's stock after acquiring an additional 689,500 shares during the period. Hudbay Minerals accounts for approximately 7.2% of Decade Renewable Partners LP's portfolio, making the stock its largest holding. Decade Renewable Partners LP owned approximately 0.42% of Hudbay Minerals worth $14,823,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HBM. Register Financial Advisors LLC purchased a new stake in Hudbay Minerals during the 1st quarter worth about $35,000. Banque Cantonale Vaudoise lifted its stake in Hudbay Minerals by 38.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company's stock worth $45,000 after purchasing an additional 1,806 shares in the last quarter. Ballentine Partners LLC bought a new position in Hudbay Minerals in the 1st quarter valued at $85,000. Ritholtz Wealth Management bought a new position in Hudbay Minerals in the 2nd quarter valued at $96,000. Finally, Armistice Capital LLC purchased a new position in shares of Hudbay Minerals during the 2nd quarter valued at $97,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HBM shares. StockNews.com lowered Hudbay Minerals from a "buy" rating to a "hold" rating in a research note on Tuesday, August 13th. Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a research note on Monday, July 22nd. Finally, Jefferies Financial Group upgraded shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $10.88.

Hudbay Minerals Trading Up 7.7 %

HBM stock traded up $0.68 during midday trading on Thursday, hitting $9.43. The company had a trading volume of 6,520,301 shares, compared to its average volume of 3,125,676. The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. Hudbay Minerals Inc. has a 52 week low of $3.94 and a 52 week high of $10.49. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 40.98 and a beta of 1.77. The stock's 50 day moving average price is $7.73 and its 200 day moving average price is $8.21.

Hudbay Minerals Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.007 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a yield of 0.2%. Hudbay Minerals's payout ratio is currently 4.35%.

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.