Allspring Global Investments Holdings LLC Makes New Investment in Hudbay Minerals Inc. (NYSE:HBM)

Allspring Global Investments Holdings LLC bought a new position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the 3rd quarter, HoldingsChannel reports. The fund bought 391,100 shares of the mining company’s stock, valued at approximately $3,601,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. grew its position in Hudbay Minerals by 73.8% in the 3rd quarter. Blue Trust Inc. now owns 25,439 shares of the mining company’s stock worth $230,000 after purchasing an additional 10,806 shares during the last quarter. Vontobel Holding Ltd. grew its position in Hudbay Minerals by 22.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 200,838 shares of the mining company’s stock worth $1,847,000 after purchasing an additional 36,657 shares during the last quarter. Creative Planning grew its position in Hudbay Minerals by 37.1% in the 3rd quarter. Creative Planning now owns 29,142 shares of the mining company’s stock worth $268,000 after purchasing an additional 7,881 shares during the last quarter. Oliver Luxxe Assets LLC acquired a new stake in shares of Hudbay Minerals in the 3rd quarter worth approximately $1,187,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Hudbay Minerals in the 3rd quarter worth approximately $53,000. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Stock Down 0.3 %

HBM stock opened at $9.60 on Tuesday. Hudbay Minerals Inc. has a 12 month low of $3.94 and a 12 month high of $10.49. The firm has a market cap of $3.78 billion, a PE ratio of 41.72 and a beta of 1.77. The firm has a 50 day simple moving average of $8.45 and a 200 day simple moving average of $8.58. 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 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 $0.007 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a dividend yield of 0.2%. Hudbay Minerals’s dividend payout ratio (DPR) is presently 4.35%.

Analyst Upgrades and Downgrades

HBM has been the subject of a number of research analyst reports. Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. StockNews.com lowered shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Hudbay Minerals presently has a consensus rating of “Buy” and an average price target of $11.17.

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.