Canada Pension Plan Investment Board Boosts Stake in Hudbay Minerals Inc. (NYSE:HBM)

Canada Pension Plan Investment Board lifted its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 29.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,431,900 shares of the mining company’s stock after buying an additional 326,400 shares during the period. Canada Pension Plan Investment Board owned approximately 0.36% of Hudbay Minerals worth $12,955,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Register Financial Advisors LLC purchased a new position in Hudbay Minerals in the first quarter worth $35,000. Banque Cantonale Vaudoise increased its holdings in Hudbay Minerals by 38.7% during the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after buying an additional 1,806 shares during the last quarter. Ballentine Partners LLC bought a new stake in Hudbay Minerals in the first quarter worth about $85,000. Ritholtz Wealth Management purchased a new position in Hudbay Minerals in the second quarter valued at about $96,000. Finally, Liontrust Investment Partners LLP purchased a new stake in shares of Hudbay Minerals during the 2nd quarter worth approximately $100,000. 57.82% of the stock is owned by institutional investors.

Hudbay Minerals Trading Up 3.6 %

Shares of HBM stock opened at $8.11 on Tuesday. Hudbay Minerals Inc. has a 1 year low of $3.94 and a 1 year high of $10.49. The company’s fifty day simple moving average is $7.71 and its two-hundred day simple moving average is $8.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.86 and a quick ratio of 1.49. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 35.24 and a beta of 1.77.

Hudbay Minerals Cuts Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Friday, September 20th. Shareholders 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 yield of 0.2%. Hudbay Minerals’s dividend payout ratio is currently 4.35%.

Wall Street Analyst Weigh In

A number of research firms recently commented on HBM. Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. StockNews.com lowered Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $10.88.

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.