Intact Investment Management Inc. Sells 468,500 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Intact Investment Management Inc. reduced its stake in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 56.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 356,600 shares of the mining company's stock after selling 468,500 shares during the period. Intact Investment Management Inc. owned 0.09% of Hudbay Minerals worth $3,280,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Hudbay Minerals by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company's stock valued at $60,861,000 after buying an additional 272,635 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Hudbay Minerals by 46.3% in the 1st quarter. BNP Paribas Financial Markets now owns 185,166 shares of the mining company's stock valued at $1,296,000 after purchasing an additional 58,585 shares during the period. Boston Partners grew its position in shares of Hudbay Minerals by 29.1% during the 1st quarter. Boston Partners now owns 552,226 shares of the mining company's stock worth $3,866,000 after purchasing an additional 124,376 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Hudbay Minerals by 88.8% during the first quarter. Russell Investments Group Ltd. now owns 281,015 shares of the mining company's stock worth $1,969,000 after purchasing an additional 132,142 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Hudbay Minerals by 92.7% in the first quarter. Jennison Associates LLC now owns 2,821,920 shares of the mining company's stock valued at $19,757,000 after buying an additional 1,357,241 shares in the last quarter. 57.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. StockNews.com downgraded Hudbay Minerals from a "buy" rating to a "hold" rating in a research report on Tuesday, August 13th. Stifel Canada raised 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 research note on Wednesday, August 14th. One analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $11.17.

Hudbay Minerals Price Performance

Shares of HBM stock traded up $0.24 on Tuesday, hitting $9.31. 1,741,155 shares of the company's stock were exchanged, compared to its average volume of 3,074,189. The company has a 50 day moving average of $8.57 and a 200 day moving average of $8.63. The stock has a market cap of $3.66 billion, a P/E ratio of 40.13 and a beta of 1.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.86 and a quick ratio of 1.49. Hudbay Minerals Inc. has a 12 month low of $3.94 and a 12 month high of $10.49.

Hudbay Minerals Cuts Dividend

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