Creative Planning Increases Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Creative Planning increased its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 37.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 29,142 shares of the mining company’s stock after buying an additional 7,881 shares during the quarter. Creative Planning’s holdings in Hudbay Minerals were worth $268,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new position in shares of Hudbay Minerals during the 3rd quarter valued at approximately $53,000. Ritholtz Wealth Management bought a new position in Hudbay Minerals during the second quarter valued at $96,000. Armistice Capital LLC purchased a new stake in Hudbay Minerals in the second quarter worth $97,000. Liontrust Investment Partners LLP bought a new stake in shares of Hudbay Minerals in the second quarter valued at $100,000. Finally, First Affirmative Financial Network purchased a new position in shares of Hudbay Minerals during the 3rd quarter valued at $103,000. Institutional investors own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

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

Hudbay Minerals Trading Down 3.8 %

Shares of Hudbay Minerals stock opened at $9.35 on Friday. The company’s 50-day moving average price is $8.67 and its 200-day moving average price is $8.67. 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 company has a market cap of $3.68 billion, a price-to-earnings ratio of 40.65 and a beta of 1.78.

Hudbay Minerals Cuts Dividend

The company 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. 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%.

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.