Capital Research Global Investors Sells 6,021,163 Shares of HudBay Minerals Inc (HBM)
Capital Research Global Investors lowered its holdings in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 47.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,714,837 shares of the mining company’s stock after selling 6,021,163 shares during the quarter. Capital Research Global Investors owned approximately 2.83% of HudBay Minerals worth $38,835,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of HBM. Trexquant Investment LP grew its position in shares of HudBay Minerals by 78.7% in the 2nd quarter. Trexquant Investment LP now owns 18,768 shares of the mining company’s stock worth $108,000 after buying an additional 8,268 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of HudBay Minerals in the 1st quarter worth approximately $118,000. Brave Asset Management Inc. purchased a new position in shares of HudBay Minerals in the 2nd quarter worth approximately $121,000. Massachusetts Financial Services Co. MA purchased a new position in shares of HudBay Minerals in the 1st quarter worth approximately $127,000. Finally, Oxford Asset Management purchased a new position in shares of HudBay Minerals in the 1st quarter worth approximately $159,000. Institutional investors and hedge funds own 64.86% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of HudBay Minerals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 18th. BidaskClub raised shares of HudBay Minerals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. ValuEngine downgraded shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Credit Suisse Group lifted their price objective on shares of HudBay Minerals from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, September 11th. Finally, J P Morgan Chase & Co raised shares of HudBay Minerals from a “neutral” rating to an “overweight” rating in a research report on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $8.91.
Shares of HudBay Minerals Inc (HBM) opened at 7.85 on Friday. HudBay Minerals Inc has a 52-week low of $3.67 and a 52-week high of $9.35. The stock has a market cap of $1.86 billion, a P/E ratio of 196.25 and a beta of 3.21. The firm’s 50-day moving average is $8.04 and its 200 day moving average is $6.65.
The company also recently declared a Semi-Annual dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were paid a dividend of $0.008 per share. This represents a dividend yield of 0.22%. The ex-dividend date of this dividend was Thursday, September 7th. HudBay Minerals’s dividend payout ratio (DPR) is presently 50.01%.
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About HudBay Minerals
Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.
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