Lloyd Harbor Capital Management LLC Takes Position in Hudbay Minerals Inc. (NYSE:HBM)

Lloyd Harbor Capital Management LLC purchased a new position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 300,000 shares of the mining company’s stock, valued at approximately $2,715,000. Hudbay Minerals accounts for about 1.7% of Lloyd Harbor Capital Management LLC’s investment portfolio, making the stock its 17th biggest position.

Several other hedge funds have also made changes to their positions in HBM. Register Financial Advisors LLC acquired a new stake in shares of Hudbay Minerals in the first quarter valued at approximately $35,000. Banque Cantonale Vaudoise grew its holdings in Hudbay Minerals by 38.7% in 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. Ballentine Partners LLC acquired a new stake in Hudbay Minerals in the 1st quarter valued at approximately $85,000. Ritholtz Wealth Management bought a new stake in Hudbay Minerals during the 2nd quarter valued at $96,000. Finally, Armistice Capital LLC acquired a new position in Hudbay Minerals during the 2nd quarter worth $97,000. Institutional investors own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

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

Hudbay Minerals Trading Up 7.7 %

Shares of HBM stock opened at $9.43 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.47. The stock has a 50-day simple moving average of $7.73 and a 200 day simple moving average of $8.21. Hudbay Minerals Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $10.49. The stock has a market capitalization of $3.71 billion, a P/E ratio of 40.98 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. Stockholders of record on Tuesday, September 3rd were paid 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 currently 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.