U S Global Investors Inc. Takes $460,000 Position in Hudbay Minerals Inc. (NYSE:HBM)

U S Global Investors Inc. purchased a new stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 50,000 shares of the mining company’s stock, valued at approximately $460,000.

A number of other large investors also recently modified their holdings of the company. Banque Cantonale Vaudoise increased its stake in Hudbay Minerals by 38.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after purchasing an additional 1,806 shares during the period. Ballentine Partners LLC purchased a new position in Hudbay Minerals in the 1st quarter worth approximately $85,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Hudbay Minerals during the first quarter valued at approximately $130,000. Register Financial Advisors LLC purchased a new position in shares of Hudbay Minerals during the first quarter valued at approximately $35,000. Finally, Galibier Capital Management Ltd. purchased a new position in shares of Hudbay Minerals during the first quarter valued at approximately $12,604,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HBM has been the topic of several analyst reports. Jefferies Financial Group raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, StockNews.com cut 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 issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Stock Performance

HBM traded up $0.11 during midday trading on Tuesday, reaching $9.49. The company had a trading volume of 169,558 shares, compared to its average volume of 3,103,518. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average of $8.23 and a two-hundred day moving average of $8.50. The company has a market cap of $3.74 billion, a P/E ratio of 40.96 and a beta of 1.77. Hudbay Minerals Inc. has a 1 year low of $3.94 and a 1 year high of $10.49.

Hudbay Minerals Cuts Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, September 3rd were given a $0.007 dividend. 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 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.