Exchange Traded Concepts LLC Invests $53,000 in Hudbay Minerals Inc. (NYSE:HBM)

Exchange Traded Concepts LLC acquired a new stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 5,713 shares of the mining company’s stock, valued at approximately $53,000.

A number of other hedge funds also recently made changes to their positions in the stock. Register Financial Advisors LLC purchased a new stake in shares of Hudbay Minerals in the first quarter worth $35,000. Banque Cantonale Vaudoise increased its stake in Hudbay Minerals by 38.7% in the 1st 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 in the last quarter. Ritholtz Wealth Management bought a new stake in Hudbay Minerals during the second quarter valued at about $96,000. Armistice Capital LLC purchased a new position in shares of Hudbay Minerals in the second quarter valued at about $97,000. Finally, Liontrust Investment Partners LLP bought a new position in shares of Hudbay Minerals in the second quarter worth about $100,000. 57.82% of the stock is currently owned by institutional investors.

Hudbay Minerals Stock Performance

NYSE HBM opened at $9.33 on Thursday. 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 1-year low of $3.94 and a 1-year high of $10.49. The business has a 50 day simple moving average of $8.31 and a two-hundred day simple moving average of $8.53. The stock has a market capitalization of $3.67 billion, a PE ratio of 40.57 and a beta of 1.77.

Hudbay Minerals Cuts Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. StockNews.com downgraded Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Finally, Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $11.17.

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.