Hudbay Minerals Inc. (NYSE:HBM) Shares Acquired by Maverick Capital Ltd.

Maverick Capital Ltd. lifted its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 161.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 186,899 shares of the mining company’s stock after acquiring an additional 115,362 shares during the period. Maverick Capital Ltd.’s holdings in Hudbay Minerals were worth $1,691,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in HBM. Register Financial Advisors LLC acquired a new stake in shares of Hudbay Minerals during the first quarter valued at $35,000. Banque Cantonale Vaudoise boosted its stake in Hudbay Minerals by 38.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after buying an additional 1,806 shares during the last quarter. Ballentine Partners LLC acquired a new stake in Hudbay Minerals in the 1st quarter worth about $85,000. Ritholtz Wealth Management acquired a new stake in Hudbay Minerals in the 2nd quarter worth about $96,000. Finally, Armistice Capital LLC acquired a new stake in Hudbay Minerals in the 2nd quarter worth about $97,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on HBM shares. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Finally, StockNews.com lowered Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $10.88.

Hudbay Minerals Stock Performance

Hudbay Minerals stock opened at $9.28 on Friday. The stock’s 50-day moving average is $7.76 and its 200-day moving average is $8.23. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 40.35 and a beta of 1.77. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.86 and a quick ratio of 1.49. Hudbay Minerals Inc. has a 12 month low of $3.94 and a 12 month high of $10.49.

Hudbay Minerals Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 3rd were issued a $0.007 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a dividend yield of 0.2%. Hudbay Minerals’s dividend payout ratio (DPR) is 4.35%.

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.