Van ECK Associates Corp Has $4.21 Million Position in Hudbay Minerals Inc. (NYSE:HBM)

Van ECK Associates Corp lifted its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 451,628 shares of the mining company’s stock after acquiring an additional 1,960 shares during the period. Van ECK Associates Corp owned approximately 0.11% of Hudbay Minerals worth $4,213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Hudbay Minerals by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock valued at $60,861,000 after purchasing an additional 272,635 shares in the last quarter. BNP Paribas Financial Markets grew its position in Hudbay Minerals by 46.3% in the first quarter. BNP Paribas Financial Markets now owns 185,166 shares of the mining company’s stock valued at $1,296,000 after acquiring an additional 58,585 shares during the last quarter. Boston Partners grew its position in Hudbay Minerals by 29.1% in the first quarter. Boston Partners now owns 552,226 shares of the mining company’s stock valued at $3,866,000 after acquiring an additional 124,376 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Hudbay Minerals by 88.8% during the first quarter. Russell Investments Group Ltd. now owns 281,015 shares of the mining company’s stock worth $1,969,000 after acquiring an additional 132,142 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new position in shares of Hudbay Minerals in the third quarter worth about $20,907,000. 57.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HBM has been the topic of several research reports. Jefferies Financial Group raised 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 research note on Monday, July 22nd. Finally, StockNews.com cut Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. One research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Stock Down 3.9 %

NYSE:HBM opened at $9.35 on Friday. Hudbay Minerals Inc. has a one year low of $3.94 and a one year high of $10.49. 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 has a market cap of $3.68 billion, a PE ratio of 40.63 and a beta of 1.78. The firm’s 50 day simple moving average is $8.67 and its 200 day simple moving average is $8.66.

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 paid 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 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.