Donald Smith & CO. Inc. Buys 906,417 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Donald Smith & CO. Inc. grew its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 31.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,748,780 shares of the mining company’s stock after buying an additional 906,417 shares during the period. Donald Smith & CO. Inc.’s holdings in Hudbay Minerals were worth $34,451,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of HBM. Exchange Traded Concepts LLC bought a new position in shares of Hudbay Minerals during the third quarter valued at approximately $53,000. Clear Harbor Asset Management LLC bought a new position in shares of Hudbay Minerals during the third quarter valued at approximately $92,000. Ritholtz Wealth Management bought a new position in shares of Hudbay Minerals during the second quarter valued at approximately $96,000. Armistice Capital LLC bought a new position in shares of Hudbay Minerals during the second quarter valued at approximately $97,000. Finally, Liontrust Investment Partners LLP bought a new position in shares of Hudbay Minerals during the second quarter valued at approximately $100,000. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Trading Down 1.8 %

NYSE:HBM traded down $0.17 during midday trading on Wednesday, hitting $9.36. The stock had a trading volume of 274,517 shares, compared to its average volume of 3,086,808. Hudbay Minerals Inc. has a one year low of $3.94 and a one year high of $10.49. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 40.96 and a beta of 1.77. The stock has a 50-day moving average of $8.49 and a 200 day moving average of $8.59. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.47.

Hudbay Minerals Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 3rd were paid a $0.007 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a yield of 0.2%. Hudbay Minerals’s dividend payout ratio (DPR) is currently 4.35%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HBM. StockNews.com cut Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, Jefferies Financial Group raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. One research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $11.17.

About Hudbay Minerals

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.