HudBay Minerals Inc (NYSE:HBM) Stake Cut by Global X Management Co. LLC
Global X Management Co. LLC lowered its position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 38.1% during the second quarter, Holdings Channel reports. The firm owned 262,965 shares of the mining company’s stock after selling 162,095 shares during the period. Global X Management Co. LLC’s holdings in HudBay Minerals were worth $1,519,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of HudBay Minerals during the first quarter worth $118,000. Brave Asset Management Inc. acquired a new position in shares of HudBay Minerals during the second quarter worth $121,000. Massachusetts Financial Services Co. MA acquired a new position in shares of HudBay Minerals during the first quarter worth $127,000. ARP Americas LLC acquired a new position in shares of HudBay Minerals during the first quarter worth $140,000. Finally, Oxford Asset Management acquired a new position in shares of HudBay Minerals during the first quarter worth $159,000. 62.84% of the stock is currently owned by hedge funds and other institutional investors.
HudBay Minerals Inc (HBM) opened at 7.10 on Friday. The stock has a 50 day moving average price of $6.71 and a 200 day moving average price of $6.62. HudBay Minerals Inc has a 52-week low of $3.57 and a 52-week high of $9.15. The firm has a market cap of $1.68 billion, a P/E ratio of 177.50 and a beta of 3.29.
The business also recently declared a Semi-Annual dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a $0.008 dividend. The ex-dividend date is Thursday, September 7th. This represents a dividend yield of 0.22%. HudBay Minerals’s dividend payout ratio (DPR) is presently 50.01%.
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A number of equities analysts have weighed in on HBM shares. ValuEngine raised HudBay Minerals from a “hold” rating to a “buy” rating in a research report on Thursday, May 11th. Zacks Investment Research raised HudBay Minerals from a “sell” rating to a “hold” rating in a research report on Thursday. Credit Suisse Group reissued a “neutral” rating on shares of HudBay Minerals in a research report on Tuesday, April 18th. Finally, BidaskClub raised HudBay Minerals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $8.06.
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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