The Manufacturers Life Insurance Company grew its stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,884,880 shares of the mining company’s stock after buying an additional 83,094 shares during the period. The Manufacturers Life Insurance Company owned 1.22% of HudBay Minerals worth $16,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in the company. Oxford Asset Management bought a new stake in HudBay Minerals in the first quarter worth $159,000. Wellington Management Group LLP increased its position in HudBay Minerals by 10.5% in the first quarter. Wellington Management Group LLP now owns 698,488 shares of the mining company’s stock worth $4,578,000 after purchasing an additional 66,182 shares during the last quarter. FMR LLC bought a new stake in HudBay Minerals in the first quarter worth $23,754,000. Massachusetts Financial Services Co. MA bought a new stake in HudBay Minerals in the first quarter worth $127,000. Finally, Vanguard Group Inc. increased its position in HudBay Minerals by 6.4% in the first quarter. Vanguard Group Inc. now owns 4,569,866 shares of the mining company’s stock worth $29,933,000 after purchasing an additional 276,040 shares during the last quarter. Hedge funds and other institutional investors own 65.05% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “HudBay Minerals Inc (HBM) Shares Bought by The Manufacturers Life Insurance Company” was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2017/10/27/hudbay-minerals-inc-hbm-stake-increased-by-the-manufacturers-life-insurance-company.html.
Several research analysts have commented on HBM shares. JPMorgan Chase & Co. raised shares of HudBay Minerals from a “neutral” rating to an “overweight” rating in a research note on Tuesday, September 5th. Zacks Investment Research lowered shares of HudBay Minerals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 18th. Credit Suisse Group lifted their price objective on shares of HudBay Minerals from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, September 11th. Raymond James Financial, Inc. reissued an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, August 15th. Finally, ValuEngine lowered shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. HudBay Minerals presently has a consensus rating of “Hold” and an average price target of $9.16.
Shares of HudBay Minerals Inc (NYSE HBM) traded down 4.67% during trading on Friday, reaching $7.15. 210,534 shares of the company’s stock were exchanged. The company has a market capitalization of $1.70 billion, a P/E ratio of 178.75 and a beta of 3.21. HudBay Minerals Inc has a 12-month low of $3.80 and a 12-month high of $9.35. The stock has a 50-day moving average price of $7.79 and a 200 day moving average price of $6.75.
The firm also recently declared a Semi-Annual dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were issued a $0.008 dividend. This represents a yield of 0.22%. The ex-dividend date was Thursday, September 7th. HudBay Minerals’s dividend payout ratio is currently 50.01%.
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.
Receive News & Ratings for HudBay Minerals Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HudBay Minerals Inc and related companies with MarketBeat.com's FREE daily email newsletter.