Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,905 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 4.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,546 shares of the mining company’s stock after acquiring an additional 2,905 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hudbay Minerals were worth $674,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HBM. Van ECK Associates Corp increased its position in shares of Hudbay Minerals by 35.4% during the fourth quarter. Van ECK Associates Corp now owns 307,103 shares of the mining company’s stock worth $1,693,000 after purchasing an additional 80,340 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Hudbay Minerals by 122,794.2% during the 4th quarter. BNP Paribas Financial Markets now owns 126,581 shares of the mining company’s stock worth $699,000 after buying an additional 126,478 shares during the last quarter. Jump Financial LLC acquired a new position in Hudbay Minerals during the 4th quarter valued at about $1,532,000. Boston Partners purchased a new stake in Hudbay Minerals in the fourth quarter valued at about $2,362,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Hudbay Minerals in the fourth quarter worth about $186,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HBM shares. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. Jefferies Financial Group upgraded 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 report on Tuesday, August 13th. Finally, National Bank Financial raised Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $10.75.

Hudbay Minerals Stock Down 0.7 %

NYSE:HBM opened at $7.34 on Thursday. 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’s fifty day moving average price is $8.22 and its 200-day moving average price is $8.02. Hudbay Minerals Inc. has a 1-year low of $3.94 and a 1-year high of $10.49. The firm has a market capitalization of $2.89 billion, a P/E ratio of 31.89 and a beta of 1.83.

Hudbay Minerals Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.007 per share. This represents a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, September 3rd. Hudbay Minerals’s dividend payout ratio is currently 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.