Clear Harbor Asset Management LLC Acquires Shares of 10,000 Hudbay Minerals Inc. (NYSE:HBM)

Clear Harbor Asset Management LLC bought a new position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,000 shares of the mining company’s stock, valued at approximately $92,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC bought a new position in Hudbay Minerals during the 3rd quarter valued at about $53,000. Ritholtz Wealth Management purchased a new stake in Hudbay Minerals in the second quarter worth approximately $96,000. Armistice Capital LLC bought a new stake in Hudbay Minerals in the 2nd quarter worth approximately $97,000. Liontrust Investment Partners LLP bought a new stake in Hudbay Minerals in the 2nd quarter worth approximately $100,000. Finally, First Affirmative Financial Network purchased a new stake in Hudbay Minerals during the 3rd quarter valued at $103,000. 57.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Finally, StockNews.com cut shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. One analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Hudbay Minerals currently has an average rating of “Buy” and an average price target of $11.17.

Hudbay Minerals Price Performance

NYSE HBM opened at $9.62 on Monday. The business’s fifty day moving average is $8.42 and its 200 day moving average is $8.56. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.86. Hudbay Minerals Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $10.49. The company has a market capitalization of $3.79 billion, a PE ratio of 41.83 and a beta of 1.77.

Hudbay Minerals Cuts Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.007 per share. This represents a yield of 0.2%. The ex-dividend date was Tuesday, September 3rd. Hudbay Minerals’s payout ratio is 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.