Covey Capital Advisors LLC maintained its position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,000 shares of the mining company’s stock at the close of the 2nd quarter. Covey Capital Advisors LLC’s holdings in HudBay Minerals were worth $173,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. AXA boosted its position in shares of HudBay Minerals by 109.2% in the second quarter. AXA now owns 571,200 shares of the mining company’s stock valued at $3,284,000 after acquiring an additional 298,200 shares during the period. Systematic Financial Management LP raised its stake in shares of HudBay Minerals by 15.5% in the second quarter. Systematic Financial Management LP now owns 583,635 shares of the mining company’s stock valued at $3,356,000 after purchasing an additional 78,395 shares in the last quarter. Commonwealth Bank of Australia acquired a new position in shares of HudBay Minerals in the second quarter valued at $9,092,000. AGF Investments Inc. raised its stake in shares of HudBay Minerals by 26.2% in the second quarter. AGF Investments Inc. now owns 2,585,096 shares of the mining company’s stock valued at $14,959,000 after purchasing an additional 536,938 shares in the last quarter. Finally, Highstreet Asset Management Inc. raised its stake in shares of HudBay Minerals by 70.9% in the second quarter. Highstreet Asset Management Inc. now owns 233,563 shares of the mining company’s stock valued at $1,352,000 after purchasing an additional 96,933 shares in the last quarter. Institutional investors own 64.87% of the company’s stock.
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HudBay Minerals Inc (HBM) traded down 0.66% on Friday, hitting $7.55. The company’s stock had a trading volume of 74,077 shares. HudBay Minerals Inc has a 12 month low of $3.57 and a 12 month high of $9.35. The stock has a market cap of $1.79 billion, a PE ratio of 188.75 and a beta of 3.28. The firm has a 50 day moving average of $8.04 and a 200-day moving average of $6.63.
The business also recently announced 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 of this dividend is Thursday, September 7th. This represents a yield of 0.22%. HudBay Minerals’s dividend payout ratio is presently 50.01%.
Several research firms have issued reports on HBM. BidaskClub lowered HudBay Minerals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Zacks Investment Research lowered HudBay Minerals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 18th. J P Morgan Chase & Co upgraded HudBay Minerals from a “neutral” rating to an “overweight” rating in a report on Tuesday, September 5th. ValuEngine cut HudBay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. HudBay Minerals presently has an average rating of “Hold” and an average target price of $8.39.
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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