MQS Management LLC Makes New $286,000 Investment in Hudbay Minerals Inc. (NYSE:HBM)

MQS Management LLC bought a new position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 31,639 shares of the mining company’s stock, valued at approximately $286,000.

Other institutional investors also recently modified their holdings of the company. Letko Brosseau & Associates Inc. raised its stake in Hudbay Minerals by 0.7% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 16,569,958 shares of the mining company’s stock worth $91,609,000 after purchasing an additional 114,266 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Hudbay Minerals by 3.2% in the first 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 during the period. Condire Management LP grew its position in Hudbay Minerals by 4.2% during the first 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in Hudbay Minerals by 24.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,545,340 shares of the mining company’s stock worth $32,084,000 after acquiring an additional 702,170 shares during the period. Finally, TD Asset Management Inc raised its holdings in Hudbay Minerals by 199.4% in the 2nd 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 in the last quarter. Institutional investors own 57.82% of the company’s stock.

Wall Street Analyst Weigh In

HBM has been the topic of several analyst reports. StockNews.com cut Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. Finally, Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $10.88.

Hudbay Minerals Stock Down 1.1 %

Shares of NYSE HBM opened at $7.82 on Friday. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 33.98 and a beta of 1.77. The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. Hudbay Minerals Inc. has a 12 month low of $3.94 and a 12 month high of $10.49. The stock has a 50-day moving average price of $7.76 and a two-hundred day moving average price of $8.13.

Hudbay Minerals Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 3rd were paid a $0.007 dividend. This represents a yield of 0.2%. The ex-dividend date was Tuesday, September 3rd. Hudbay Minerals’s payout ratio is 4.35%.

Hudbay Minerals Company 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.