Van ECK Associates Corp Has $4.21 Million Stock Position in Hudbay Minerals Inc. (NYSE:HBM)

Van ECK Associates Corp raised its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 0.4% in the third quarter, HoldingsChannel.com reports. The firm owned 451,628 shares of the mining company’s stock after purchasing an additional 1,960 shares during the quarter. Van ECK Associates Corp’s holdings in Hudbay Minerals were worth $4,213,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Regal Partners Ltd bought a new stake in shares of Hudbay Minerals in the 2nd quarter valued at $22,956,000. Artemis Investment Management LLP bought a new stake in Hudbay Minerals during the third quarter valued at $20,907,000. TD Asset Management Inc boosted its position in Hudbay Minerals by 199.4% during the second 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 during the last quarter. Cubist Systematic Strategies LLC grew its holdings in Hudbay Minerals by 2,521.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock worth $15,861,000 after acquiring an additional 1,685,836 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in shares of Hudbay Minerals in the 2nd quarter worth about $14,718,000. Institutional investors own 57.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on HBM shares. StockNews.com cut Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a report 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 investment 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Stock Down 3.9 %

Shares of NYSE:HBM opened at $9.35 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.86. Hudbay Minerals Inc. has a 52-week low of $3.94 and a 52-week high of $10.49. The business’s 50 day simple moving average is $8.67 and its two-hundred day simple moving average is $8.66. The firm has a market cap of $3.68 billion, a P/E ratio of 40.63 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. Investors of record on Tuesday, September 3rd were issued a $0.007 dividend. This represents a dividend yield of 0.2%. The ex-dividend date was Tuesday, September 3rd. Hudbay Minerals’s dividend payout ratio is currently 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.