TD Asset Management Inc. Sells 911,484 Shares of HudBay Minerals Inc (HBM)
TD Asset Management Inc. decreased its position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 14.7% during the second quarter, Holdings Channel reports. The fund owned 5,273,786 shares of the mining company’s stock after selling 911,484 shares during the period. TD Asset Management Inc.’s holdings in HudBay Minerals were worth $30,456,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. ARP Americas LLC raised its position in HudBay Minerals by 85.9% in the second quarter. ARP Americas LLC now owns 39,600 shares of the mining company’s stock valued at $229,000 after buying an additional 18,300 shares during the last quarter. Brave Asset Management Inc. purchased a new position in HudBay Minerals during the second quarter valued at $121,000. Spark Investment Management LLC purchased a new position in HudBay Minerals during the second quarter valued at $1,365,000. ICM Asset Management Inc. WA raised its position in HudBay Minerals by 143.5% in the second quarter. ICM Asset Management Inc. WA now owns 140,515 shares of the mining company’s stock valued at $808,000 after buying an additional 82,800 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in HudBay Minerals by 0.7% in the second quarter. Russell Investments Group Ltd. now owns 653,800 shares of the mining company’s stock valued at $3,771,000 after buying an additional 4,700 shares during the last quarter. Institutional investors own 62.84% of the company’s stock.
Shares of HudBay Minerals Inc (NYSE HBM) opened at 7.20 on Friday. HudBay Minerals Inc has a 1-year low of $3.57 and a 1-year high of $9.15. The stock has a 50 day moving average of $6.66 and a 200-day moving average of $6.61. The stock has a market capitalization of $1.71 billion, a P/E ratio of 180.00 and a beta of 3.29.
The company also recently declared a Semi-Annual dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.008 per share. The ex-dividend date is Thursday, September 7th. This represents a dividend yield of 0.22%. HudBay Minerals’s dividend payout ratio is currently 50.01%.
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Several research firms have weighed in on HBM. Zacks Investment Research upgraded shares of HudBay Minerals from a “sell” rating to a “hold” rating in a report on Thursday. ValuEngine lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub upgraded shares of HudBay Minerals from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Credit Suisse Group reiterated a “neutral” rating on shares of HudBay Minerals in a report on Tuesday, April 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $8.06.
About HudBay Minerals
Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.
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