Allspring Global Investments Holdings LLC bought a new position in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 391,100 shares of the mining company's stock, valued at approximately $3,601,000. Allspring Global Investments Holdings LLC owned about 0.10% of Hudbay Minerals at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Exchange Traded Concepts LLC purchased a new stake in Hudbay Minerals in the third quarter worth $53,000. Ritholtz Wealth Management purchased a new stake in Hudbay Minerals in the second quarter worth $96,000. Armistice Capital LLC purchased a new stake in Hudbay Minerals in the second quarter worth $97,000. Liontrust Investment Partners LLP purchased a new position in shares of Hudbay Minerals in the second quarter valued at $100,000. Finally, First Affirmative Financial Network purchased a new position in shares of Hudbay Minerals in the third quarter valued at $103,000. 57.82% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on HBM. StockNews.com cut Hudbay Minerals from a "buy" rating to a "hold" rating in a research report on Tuesday, August 13th. Stifel Canada upgraded Hudbay Minerals to a "strong-buy" rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group upgraded 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, four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $11.17.
View Our Latest Analysis on Hudbay Minerals
Hudbay Minerals Price Performance
NYSE:HBM traded down $0.04 during trading hours on Tuesday, hitting $9.54. 1,512,964 shares of the company's stock traded hands, compared to its average volume of 3,100,414. The firm has a market cap of $3.75 billion, a P/E ratio of 41.48 and a beta of 1.77. Hudbay Minerals Inc. has a 52 week low of $3.94 and a 52 week high of $10.49. The business's fifty day simple moving average is $8.49 and its two-hundred day simple moving average is $8.59. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.47.
Hudbay Minerals Cuts Dividend
The firm also recently disclosed a Semi-Annual dividend, which was paid on Friday, September 20th. Investors 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 is 4.35%.
Hudbay Minerals Company Profile
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Free Report)
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.
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