Donald Smith & CO. Inc. Decreases Stock Position in Hudbay Minerals Inc. (NYSE:HBM)

Donald Smith & CO. Inc. lessened its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 36.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,842,363 shares of the mining company’s stock after selling 1,601,099 shares during the period. Donald Smith & CO. Inc.’s holdings in Hudbay Minerals were worth $25,723,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in HBM. BNP Paribas Financial Markets increased its holdings in Hudbay Minerals by 122,794.2% in the 4th quarter. BNP Paribas Financial Markets now owns 126,581 shares of the mining company’s stock worth $699,000 after acquiring an additional 126,478 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Hudbay Minerals during the fourth quarter worth about $186,000. Trexquant Investment LP purchased a new position in shares of Hudbay Minerals in the fourth quarter worth about $1,502,000. Aigen Investment Management LP raised its position in shares of Hudbay Minerals by 140.1% in the fourth quarter. Aigen Investment Management LP now owns 96,019 shares of the mining company’s stock valued at $530,000 after purchasing an additional 56,034 shares during the period. Finally, TD Asset Management Inc lifted its stake in shares of Hudbay Minerals by 2.8% during the 4th quarter. TD Asset Management Inc now owns 979,801 shares of the mining company’s stock valued at $5,417,000 after buying an additional 26,511 shares in the last quarter. Institutional investors own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. StockNews.com cut Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group raised 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, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Hudbay Minerals has an average rating of “Buy” and an average target price of $10.80.

Hudbay Minerals Trading Up 1.9 %

Hudbay Minerals stock opened at $7.34 on Monday. 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 fifty-two week low of $3.94 and a fifty-two week high of $10.49. The stock has a market cap of $2.89 billion, a P/E ratio of 31.91 and a beta of 1.77. The firm’s fifty day moving average price is $7.89 and its 200-day moving average price is $8.11.

Hudbay Minerals Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 3rd will be paid a $0.007 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a yield of 0.2%. Hudbay Minerals’s dividend payout ratio is currently 4.35%.

About Hudbay Minerals

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.