Toronto Dominion Bank Acquires 12,082 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Toronto Dominion Bank grew its position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 27.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,584 shares of the mining company’s stock after purchasing an additional 12,082 shares during the period. Toronto Dominion Bank’s holdings in Hudbay Minerals were worth $512,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Register Financial Advisors LLC acquired a new stake in shares of Hudbay Minerals in the first quarter valued at about $35,000. Banque Cantonale Vaudoise lifted its position in shares of 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 buying an additional 1,806 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of Hudbay Minerals during the 2nd quarter worth approximately $96,000. Liontrust Investment Partners LLP bought a new position in shares of Hudbay Minerals in the second quarter valued at about $100,000. Finally, Ballentine Partners LLC acquired a new position in shares of Hudbay Minerals in the first quarter valued at approximately $85,000. 57.82% of the stock is owned by institutional investors and hedge funds.

Hudbay Minerals Price Performance

HBM stock opened at $9.19 on Tuesday. 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 $7.78 and its 200-day moving average is $8.27. The stock has a market capitalization of $3.62 billion, a PE ratio of 39.96 and a beta of 1.77. Hudbay Minerals Inc. has a 1 year low of $3.94 and a 1 year high of $10.49.

Hudbay Minerals Cuts Dividend

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

Wall Street Analysts Forecast Growth

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

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.