Intact Investment Management Inc. Sells 468,500 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Intact Investment Management Inc. lessened its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 56.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 356,600 shares of the mining company’s stock after selling 468,500 shares during the period. Intact Investment Management Inc. owned 0.09% of Hudbay Minerals worth $3,280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in HBM. BNP Paribas Financial Markets boosted its holdings in shares of Hudbay Minerals by 46.3% during the 1st quarter. BNP Paribas Financial Markets now owns 185,166 shares of the mining company’s stock valued at $1,296,000 after purchasing an additional 58,585 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Hudbay Minerals by 92.7% in the 1st quarter. Jennison Associates LLC now owns 2,821,920 shares of the mining company’s stock valued at $19,757,000 after acquiring an additional 1,357,241 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Hudbay Minerals by 1.4% in the 1st quarter. Swiss National Bank now owns 695,600 shares of the mining company’s stock valued at $4,867,000 after acquiring an additional 9,600 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Hudbay Minerals by 88.8% in the 1st quarter. Russell Investments Group Ltd. now owns 281,015 shares of the mining company’s stock valued at $1,969,000 after acquiring an additional 132,142 shares during the last quarter. Finally, Hiddenite Capital Partners LP bought a new position in shares of Hudbay Minerals in the 1st quarter valued at about $1,400,000. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Price Performance

Shares of NYSE HBM opened at $9.06 on Tuesday. 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 company has a market cap of $3.57 billion, a P/E ratio of 39.39 and a beta of 1.78. Hudbay Minerals Inc. has a 1 year low of $3.94 and a 1 year high of $10.49. The firm has a 50-day simple moving average of $8.55 and a two-hundred day simple moving average of $8.62.

Hudbay Minerals Cuts Dividend

The company also recently disclosed 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 of this dividend was Tuesday, September 3rd. Hudbay Minerals’s payout ratio is currently 4.35%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Finally, Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. One analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target 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.