Bfsg LLC Takes Position in Hudbay Minerals Inc. (NYSE:HBM)

Bfsg LLC acquired a new position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 88,537 shares of the mining company’s stock, valued at approximately $801,000.

A number of other institutional investors have also made changes to their positions in the stock. BNP Paribas Financial Markets boosted its holdings in Hudbay Minerals by 122,794.2% during the fourth quarter. BNP Paribas Financial Markets now owns 126,581 shares of the mining company’s stock worth $699,000 after buying an additional 126,478 shares during the last quarter. Galibier Capital Management Ltd. acquired a new position in shares of Hudbay Minerals in the 1st quarter valued at $12,604,000. Vanguard Group Inc. increased its position in shares of 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. Boston Partners lifted its holdings in Hudbay Minerals by 29.1% during the first quarter. Boston Partners now owns 552,226 shares of the mining company’s stock worth $3,866,000 after acquiring an additional 124,376 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Hudbay Minerals by 88.8% in the first quarter. Russell Investments Group Ltd. now owns 281,015 shares of the mining company’s stock valued at $1,969,000 after acquiring an additional 132,142 shares during the period. 57.82% of the stock is owned by institutional investors and hedge funds.

Hudbay Minerals Price Performance

Shares of HBM traded down $0.04 during mid-day trading on Thursday, reaching $7.85. The company had a trading volume of 1,950,411 shares, compared to its average volume of 3,025,827. The company’s 50 day simple moving average is $8.33 and its 200 day simple moving average is $7.93. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 34.30 and a beta of 1.83. Hudbay Minerals Inc. has a 1-year low of $3.94 and a 1-year high of $10.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.00 and a current ratio of 1.40.

Hudbay Minerals Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.007 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a dividend yield of 0.2%. Hudbay Minerals’s dividend payout ratio (DPR) is presently 4.35%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. StockNews.com lowered shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, National Bank Financial raised shares of Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $10.75.

About Hudbay Minerals

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.