Driehaus Capital Management LLC Buys New Stake in Hudbay Minerals Inc. (NYSE:HBM)

Driehaus Capital Management LLC bought a new stake in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,626,244 shares of the mining company's stock, valued at approximately $14,718,000. Driehaus Capital Management LLC owned 0.41% of Hudbay Minerals as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Register Financial Advisors LLC purchased a new position in Hudbay Minerals during the first quarter valued at $35,000. Banque Cantonale Vaudoise boosted its holdings 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 buying an additional 1,806 shares during the last quarter. Ballentine Partners LLC purchased a new stake in Hudbay Minerals during the 1st quarter worth approximately $85,000. Ritholtz Wealth Management purchased a new stake in Hudbay Minerals during the 2nd quarter worth approximately $96,000. Finally, Armistice Capital LLC acquired a new position in shares of Hudbay Minerals during the second quarter valued at approximately $97,000. Institutional investors and hedge funds own 57.82% of the company's stock.

Analyst Ratings Changes

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

Hudbay Minerals Trading Down 1.7 %

Shares of NYSE HBM traded down $0.16 during trading on Friday, hitting $9.28. 5,129,099 shares of the company were exchanged, compared to its average volume of 3,133,570. The company has a fifty day moving average price of $7.76 and a 200-day moving average price of $8.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.86. The firm has a market capitalization of $3.65 billion, a PE ratio of 40.35 and a beta of 1.77. Hudbay Minerals Inc. has a 12-month low of $3.94 and a 12-month high of $10.49.

Hudbay Minerals Cuts Dividend

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

Hudbay Minerals 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.