Old West Investment Management LLC grew its holdings in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 100.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 450,000 shares of the mining company's stock after purchasing an additional 225,000 shares during the period. Hudbay Minerals comprises about 1.5% of Old West Investment Management LLC's investment portfolio, making the stock its 22nd biggest holding. Old West Investment Management LLC owned 0.11% of Hudbay Minerals worth $4,136,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Hudbay Minerals by 3.2% in the first quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company's stock worth $60,861,000 after purchasing an additional 272,635 shares during the last quarter. Condire Management LP boosted its stake in shares of Hudbay Minerals by 4.2% in the 1st quarter. Condire Management LP now owns 4,226,553 shares of the mining company's stock worth $29,586,000 after buying an additional 169,310 shares during the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of Hudbay Minerals by 31.9% in the third quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company's stock worth $34,451,000 after acquiring an additional 906,417 shares during the period. Dimensional Fund Advisors LP increased its position in Hudbay Minerals by 24.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,545,340 shares of the mining company's stock valued at $32,084,000 after acquiring an additional 702,170 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in Hudbay Minerals by 199.4% in the second quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company's stock valued at $26,294,000 after acquiring an additional 1,935,709 shares during the period. Hedge funds and other institutional investors own 57.82% of the company's stock.
Hudbay Minerals Price Performance
Hudbay Minerals stock traded down $0.29 during mid-day trading on Wednesday, hitting $9.02. The stock had a trading volume of 4,422,854 shares, compared to its average volume of 3,080,462. 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's 50 day moving average is $8.59 and its 200 day moving average is $8.64. The firm has a market capitalization of $3.55 billion, a P/E ratio of 40.46 and a beta of 1.78. Hudbay Minerals Inc. has a one year low of $3.94 and a one year high of $10.49.
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%.
Analyst Upgrades and Downgrades
HBM has been the topic of several recent research reports. Jefferies Financial Group upgraded shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Wednesday, August 14th. StockNews.com downgraded shares of Hudbay Minerals from a "buy" rating to a "hold" rating in a research report on Tuesday, August 13th. Finally, Stifel Canada raised Hudbay Minerals to a "strong-buy" rating in a report on Monday, July 22nd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Hudbay Minerals has an average rating of "Buy" and an average target price of $11.17.
Get Our Latest Stock Analysis on Hudbay Minerals
Hudbay Minerals Company Profile
(
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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