Hudbay Minerals Inc. (NYSE:HBM) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. reduced its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 56.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 356,600 shares of the mining company’s stock after selling 468,500 shares during the quarter. Intact Investment Management Inc.’s holdings in Hudbay Minerals were worth $3,280,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new stake in shares of Hudbay Minerals during the third quarter worth $53,000. Clear Harbor Asset Management LLC acquired a new position in Hudbay Minerals during the third quarter valued at $92,000. Ritholtz Wealth Management acquired a new position in Hudbay Minerals during the second quarter valued at $96,000. Armistice Capital LLC acquired a new position in Hudbay Minerals during the second quarter valued at $97,000. Finally, Liontrust Investment Partners LLP acquired a new position in Hudbay Minerals during the second quarter valued at $100,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Price Performance

HBM stock opened at $9.06 on Tuesday. The stock has a market capitalization of $3.57 billion, a P/E ratio of 39.39 and a beta of 1.78. The firm has a 50-day simple moving average of $8.55 and a 200-day simple moving average of $8.62. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.47. Hudbay Minerals Inc. has a 52 week low of $3.94 and a 52 week high of $10.49.

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 paid a dividend of $0.007 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a yield of 0.2%. Hudbay Minerals’s dividend payout ratio is presently 4.35%.

Analysts Set New Price Targets

HBM has been the subject of a number of research reports. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Finally, StockNews.com cut shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Hudbay Minerals presently has a consensus rating of “Buy” and an average price target of $11.17.

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.