Meritage Portfolio Management Invests in Hudbay Minerals Inc.

Meritage Portfolio Management has announced the acquisition of a new stake in Hudbay Minerals Inc. (NYSE:HBM, TSE:HBM) during the third quarter of the year. This information comes from the firm's latest 13F filing with the Securities and Exchange Commission (SEC). The investment firm purchased a total of 733,759 shares, which amounts to approximately $6,743,000. Following this transaction, Meritage Portfolio Management holds a 0.19% ownership in Hudbay Minerals based on their most recent filing.

Several other institutional investors and hedge funds have also recently made adjustments to their positions in Hudbay Minerals. For instance, Exchange Traded Concepts LLC acquired a new stake valued at $53,000, while Clear Harbor Asset Management LLC invested around $92,000 during the same period. Additionally, Ritholtz Wealth Management, Armistice Capital LLC, and Liontrust Investment Partners LLP have also made new investments in Hudbay Minerals, with the values ranging from approximately $96,000 to $100,000. In total, hedge funds and other institutional investors own about 57.82% of Hudbay Minerals’ stock.

Recent Analyst Reports

Hudbay Minerals has recently been the focus of various research reports. For example, StockNews.com downgraded the company's rating from “buy” to “hold” in mid-August. Conversely, Jefferies Financial Group transitioned Hudbay's rating from “hold” to “buy.” Furthermore, Stifel Canada has upgraded the company's rating to “strong-buy.” Currently, one analyst has rated Hudbay with a hold, while four analysts recommend buying, and two suggest it is a strong buy. Overall, the consensus rating is listed as “Buy” with an average target price set at $11.17 according to MarketBeat.com.

Stock Performance of Hudbay Minerals

Recent trading showed that Hudbay Minerals' stock (NYSE:HBM) was down by $0.37, reaching a price of $9.35. The trading volume for the day totaled 4,303,936 shares, surpassing the average volume of 2,425,701 shares. At present, the company's market capitalization is estimated at $3.68 billion, with a P/E ratio of 40.65 and a beta of 1.78. Hudbay Minerals has seen a 1-year low of $3.94 and a 1-year high of $10.49. Its fifty-day and two-hundred-day simple moving averages are both reported at $8.67.

Dividend Information

Recently, Hudbay Minerals disclosed its semi-annual dividend, which was paid on September 20th. Shareholders who were on record as of September 3rd received a dividend of $0.007. The ex-dividend date fell on September 3rd, reflecting a dividend yield of 0.2% with a payout ratio currently at 4.35%.

Company Overview

Hudbay Minerals Inc. is a diversified mining company that specializes in the exploration, development, operation, and optimization of properties located in North and South America. The company primarily focuses on producing copper concentrates that contain gold, silver, and molybdenum, as well as other metal concentrates including zinc and molybdenum.

investment, mining, stocks