Donald Smith & CO. Inc. Purchases 906,417 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Donald Smith & CO. Inc. raised its stake in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 31.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,748,780 shares of the mining company's stock after buying an additional 906,417 shares during the period. Donald Smith & CO. Inc. owned about 0.95% of Hudbay Minerals worth $34,451,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC purchased a new stake in Hudbay Minerals during the third quarter valued at $53,000. Clear Harbor Asset Management LLC bought a new stake in shares of Hudbay Minerals during the 3rd quarter valued at about $92,000. Ritholtz Wealth Management purchased a new stake in shares of Hudbay Minerals during the 2nd quarter valued at about $96,000. Armistice Capital LLC bought a new position in shares of Hudbay Minerals in the 2nd quarter worth approximately $97,000. Finally, Liontrust Investment Partners LLP purchased a new position in shares of Hudbay Minerals in the second quarter worth approximately $100,000. 57.82% of the stock is owned by institutional investors.

Hudbay Minerals Price Performance

Hudbay Minerals stock traded down $0.22 during mid-day trading on Wednesday, hitting $9.31. The stock had a trading volume of 1,016,125 shares, compared to its average volume of 3,090,490. Hudbay Minerals Inc. has a one year low of $3.94 and a one year high of $10.49. The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3.66 billion, a P/E ratio of 40.96 and a beta of 1.77. The firm's 50 day moving average is $8.49 and its 200 day moving average is $8.59.

Hudbay Minerals Cuts Dividend

The firm also recently announced 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 (DPR) is presently 4.35%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a report on Monday, July 22nd. Jefferies Financial Group upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Wednesday, August 14th. Finally, StockNews.com cut Hudbay Minerals from a "buy" rating to a "hold" rating in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $11.17.

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.