Ballentine Partners LLC Purchases 3,983 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Ballentine Partners LLC raised its position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 32.7% in the 2nd quarter, Holdings Channel reports. The firm owned 16,171 shares of the mining company’s stock after buying an additional 3,983 shares during the period. Ballentine Partners LLC’s holdings in Hudbay Minerals were worth $146,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Register Financial Advisors LLC bought a new stake in shares of Hudbay Minerals in the 1st quarter valued at $35,000. Banque Cantonale Vaudoise grew its stake in Hudbay Minerals by 38.7% in the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after acquiring an additional 1,806 shares during the period. Ritholtz Wealth Management bought a new stake in shares of Hudbay Minerals in the second quarter worth about $96,000. Liontrust Investment Partners LLP acquired a new stake in shares of Hudbay Minerals during the second quarter worth about $100,000. Finally, Blue Trust Inc. lifted its holdings in shares of Hudbay Minerals by 60,870.8% during the 2nd quarter. Blue Trust Inc. now owns 14,633 shares of the mining company’s stock valued at $132,000 after purchasing an additional 14,609 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. Finally, StockNews.com lowered shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $10.80.

Hudbay Minerals Stock Performance

Shares of HBM opened at $7.20 on Friday. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 31.30 and a beta of 1.77. Hudbay Minerals Inc. has a 12 month low of $3.94 and a 12 month high of $10.49. The firm has a fifty day simple moving average of $7.94 and a 200 day simple moving average of $8.07. The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47.

Hudbay Minerals Cuts Dividend

The business also recently declared 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 4.35%.

Hudbay Minerals 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.