Hudbay Minerals Inc. (NYSE:HBM) Shares Sold by EdgePoint Investment Group Inc.

EdgePoint Investment Group Inc. reduced its position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 25.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,812,321 shares of the mining company’s stock after selling 1,981,297 shares during the period. EdgePoint Investment Group Inc. owned about 1.48% of Hudbay Minerals worth $52,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in HBM. Regal Partners Ltd acquired a new position in shares of Hudbay Minerals in the 2nd quarter valued at $22,956,000. TD Asset Management Inc increased its holdings in Hudbay Minerals by 199.4% in the 2nd quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock worth $26,294,000 after acquiring an additional 1,935,709 shares in the last quarter. Galibier Capital Management Ltd. purchased a new stake in Hudbay Minerals in the 1st quarter worth $12,604,000. Cubist Systematic Strategies LLC raised its position in Hudbay Minerals by 2,521.9% during the second quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock worth $15,861,000 after acquiring an additional 1,685,836 shares during the period. Finally, American Century Companies Inc. raised its position in Hudbay Minerals by 239.3% during the second quarter. American Century Companies Inc. now owns 2,044,720 shares of the mining company’s stock worth $18,503,000 after acquiring an additional 1,442,140 shares during the period. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HBM shares. StockNews.com cut Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. Finally, Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $10.88.

Hudbay Minerals Trading Down 0.7 %

Shares of Hudbay Minerals stock opened at $8.76 on Thursday. The stock has a market cap of $3.45 billion, a P/E ratio of 38.07 and a beta of 1.77. The stock’s 50 day simple moving average is $7.70 and its 200-day simple moving average is $8.20. Hudbay Minerals Inc. has a 1-year low of $3.94 and a 1-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.

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 issued a $0.007 dividend. This represents a yield of 0.2%. The ex-dividend date was Tuesday, September 3rd. Hudbay Minerals’s dividend payout ratio is presently 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.