Ironwood Investment Management LLC Sells 14,787 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Ironwood Investment Management LLC cut its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 53.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 12,761 shares of the mining company’s stock after selling 14,787 shares during the period. Ironwood Investment Management LLC’s holdings in Hudbay Minerals were worth $115,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Register Financial Advisors LLC acquired a new stake in Hudbay Minerals during the first quarter worth approximately $35,000. Banque Cantonale Vaudoise boosted its holdings in shares of Hudbay Minerals by 38.7% during 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 in the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Hudbay Minerals during the 2nd quarter worth approximately $96,000. Armistice Capital LLC bought a new stake in shares of Hudbay Minerals in the 2nd quarter valued at $97,000. Finally, Liontrust Investment Partners LLP acquired a new position in shares of Hudbay Minerals during the 2nd quarter valued at $100,000. 57.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Hudbay Minerals Trading Down 1.7 %

HBM opened at $9.28 on Monday. Hudbay Minerals Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $10.49. The firm has a market capitalization of $3.65 billion, a PE 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. The company’s 50-day moving average is $7.76 and its 200 day moving average is $8.25.

Hudbay Minerals Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 3rd were given a dividend of $0.007 per share. This represents a dividend yield of 0.2%. The ex-dividend date was Tuesday, September 3rd. Hudbay Minerals’s payout ratio is currently 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.