Bank of Nova Scotia makes a new $136,000 investment in Hudbay Minerals Inc. (NYSE:HBM)


Bank of Nova Scotia bought a new position in shares of Hudbay Minerals Inc. (NYSE:HBM – Get Rating) (TSE:HBM) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 17,300 shares of the mining company’s stock, valued at approximately $136,000.

Other large investors also recently bought and sold shares of the company. Signaturefd LLC raised its stake in Hudbay Minerals by 97.9% during the first quarter. Signaturefd LLC now owns 10,448 shares of the mining company’s stock worth $82,000 after purchasing an additional 5,169 shares during the period. CastleKnight Management LP purchased a new position in Hudbay Minerals during the fourth quarter valued at approximately $85,000. 1492 Capital Management LLC purchased a new position in Hudbay Minerals during the fourth quarter valued at approximately $162,000. Shell Asset Management Co. raised its stake in Hudbay Minerals by 16.6% during the fourth quarter. Shell Asset Management Co. now owns 25,989 shares of the mining company’s stock worth $188,000 after purchasing an additional 3,700 shares during the period. Finally, Bridgewater Associates LP raised its stake in Hudbay Minerals by 12.9% during the fourth quarter. Bridgewater Associates LP now owns 31,923 shares of the mining company’s stock worth $231,000 after buying an additional 3,645 shares during the period. Hedge funds and other institutional investors own 67.11% of the company’s shares.

Analyst Updates and Downgrades

Several brokerages have recently commented on HBM. CIBC cut their target price on shares of Hudbay Minerals from C$14.00 to C$11.50 in a research note on Wednesday, May 18th. National Bank Financial downgraded shares of Hudbay Minerals from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 19th. Stifel Nicolaus cut their target price on shares of Hudbay Minerals from C$16.50 to C$12.00 in a research note on Tuesday, July 19th. Barclays raised shares of Hudbay Minerals from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 19th. Finally, Scotiabank cut their target price on shares of Hudbay Minerals from C$10.00 to C$7.50 in a report on Thursday, July 7th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Hudbay Minerals has a consensus rating of “Moderate Buy” and an average target price of $10.89, according to data from MarketBeat.com.

Hudbay Minerals Price Performance

Shares of HBM stock opened at $4.17 on Friday. The company has a market cap of $1.09 billion, a P/E ratio of -12.64, a P/E/G ratio of 0.81 and a beta of 2.00. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.41, and a quick ratio of 0.97. Hudbay Minerals Inc. it has a one year low of $3.08 and a one year high of $8.75. The company has a fifty day moving average of $4.02 and a two hundred day moving average of $6.00.

Hudbay Minerals dividend announcement

The business also recently disclosed a semiannual dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd will be paid a dividend of $0.008 per share. This represents a return of 0.3%. The dividend download date is Thursday, September 1. Hudbay Minerals’ dividend payout ratio is currently -6.06%.

Profile of Hudbay Minerals

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Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the discovery, production and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold and silver; silver/gilt gold; molybdenum concentrates; and zinc metals.

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Institutional Ownership by Quarter for Hudbay Minerals (NYSE:HBM)



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