Gordian Capital Singapore Pte Ltd Invests $620,000 in Hudbay Minerals Inc. (NYSE:HBM)

Gordian Capital Singapore Pte Ltd bought a new stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) during the second quarter, Holdings Channel reports. The fund bought 68,500 shares of the mining company’s stock, valued at approximately $620,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Regal Partners Ltd purchased a new stake in Hudbay Minerals during the 2nd quarter worth $22,956,000. TD Asset Management Inc raised its holdings in shares of Hudbay Minerals by 199.4% during the second quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock worth $26,294,000 after acquiring an additional 1,935,709 shares in the last quarter. Galibier Capital Management Ltd. bought a new stake in Hudbay Minerals during the first quarter worth approximately $12,604,000. Cubist Systematic Strategies LLC grew its holdings in Hudbay Minerals by 2,521.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock valued at $15,861,000 after buying an additional 1,685,836 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in Hudbay Minerals during the second quarter worth $14,718,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on HBM. Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. Finally, StockNews.com cut shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $10.88.

Hudbay Minerals Price Performance

Shares of HBM stock opened at $9.34 on Wednesday. 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 Inc. has a 1 year low of $3.94 and a 1 year high of $10.49. The firm’s 50 day moving average is $7.80 and its 200-day moving average is $8.29. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 40.61 and a beta of 1.77.

Hudbay Minerals Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 3rd were given 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 is presently 4.35%.

About Hudbay Minerals

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.