Lumbard & Kellner LLC Has $3.62 Million Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Lumbard & Kellner LLC cut its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 37.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 399,835 shares of the mining company’s stock after selling 239,587 shares during the quarter. Hudbay Minerals makes up 1.7% of Lumbard & Kellner LLC’s holdings, making the stock its 26th biggest holding. Lumbard & Kellner LLC owned approximately 0.10% of Hudbay Minerals worth $3,619,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Banque Cantonale Vaudoise boosted its stake in shares of Hudbay Minerals by 38.7% during the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after purchasing an additional 1,806 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Hudbay Minerals by 4.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company’s stock valued at $674,000 after purchasing an additional 2,905 shares in the last quarter. Ballentine Partners LLC boosted its stake in shares of Hudbay Minerals by 32.7% during the second quarter. Ballentine Partners LLC now owns 16,171 shares of the mining company’s stock valued at $146,000 after purchasing an additional 3,983 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in shares of Hudbay Minerals during the first quarter valued at about $35,000. Finally, CIBC Asset Management Inc boosted its stake in shares of Hudbay Minerals by 2.1% during the fourth quarter. CIBC Asset Management Inc now owns 351,911 shares of the mining company’s stock valued at $1,942,000 after purchasing an additional 7,161 shares in the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HBM has been the topic of a number of recent research reports. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Finally, StockNews.com downgraded Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $10.80.

Hudbay Minerals Price Performance

Shares of HBM opened at $7.56 on Wednesday. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 32.85 and a beta of 1.77. The business has a 50-day moving average of $7.85 and a 200-day moving average of $8.12. 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 Inc. has a 1 year low of $3.94 and a 1 year high of $10.49.

Hudbay Minerals Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 3rd will be issued a $0.007 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a yield of 0.2%. Hudbay Minerals’s 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.