Balyasny Asset Management L.P. Takes Position in Hudbay Minerals Inc. (NYSE:HBM)

Balyasny Asset Management L.P. acquired a new stake in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 448,152 shares of the mining company's stock, valued at approximately $3,630,000. Balyasny Asset Management L.P. owned about 0.11% of Hudbay Minerals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Barclays PLC boosted its position in shares of Hudbay Minerals by 2,414.5% in the third quarter. Barclays PLC now owns 86,475 shares of the mining company's stock worth $795,000 after purchasing an additional 83,036 shares during the period. Artemis Investment Management LLP grew its position in Hudbay Minerals by 13.3% in the fourth quarter. Artemis Investment Management LLP now owns 2,574,709 shares of the mining company's stock worth $20,858,000 after acquiring an additional 301,455 shares in the last quarter. Raymond James Financial Inc. bought a new position in Hudbay Minerals during the fourth quarter valued at $183,000. Galibier Capital Management Ltd. grew its position in Hudbay Minerals by 3.7% in the 4th quarter. Galibier Capital Management Ltd. now owns 2,613,432 shares of the mining company's stock valued at $21,188,000 after acquiring an additional 92,324 shares during the last quarter. Finally, Cibc World Market Inc. lifted its position in shares of Hudbay Minerals by 4.3% during the fourth quarter. Cibc World Market Inc. now owns 1,879,561 shares of the mining company's stock worth $15,240,000 after purchasing an additional 78,267 shares during the last quarter. Institutional investors own 57.82% of the company's stock.

Analysts Set New Price Targets

HBM has been the subject of a number of research analyst reports. Desjardins started coverage on shares of Hudbay Minerals in a report on Friday, April 4th. They set a "buy" rating for the company. Scotiabank reiterated an "outperform" rating on shares of Hudbay Minerals in a report on Tuesday. Stifel Canada upgraded Hudbay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. StockNews.com raised Hudbay Minerals from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Finally, BMO Capital Markets assumed coverage on Hudbay Minerals in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $14.00.

Hudbay Minerals Stock Down 1.9%

NYSE:HBM traded down $0.16 during mid-day trading on Thursday, hitting $8.35. 8,219,319 shares of the company's stock traded hands, compared to its average volume of 4,882,742. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. The company has a market capitalization of $3.30 billion, a P/E ratio of 46.39 and a beta of 1.56. The company has a fifty day moving average of $7.43 and a 200 day moving average of $8.16. Hudbay Minerals Inc. has a twelve month low of $5.95 and a twelve month high of $10.49.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its quarterly earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.14. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The business had revenue of $594.90 million for the quarter, compared to analyst estimates of $537.36 million. During the same quarter in the prior year, the business posted $0.22 EPS. Hudbay Minerals's revenue for the quarter was up 13.3% compared to the same quarter last year. On average, analysts forecast that Hudbay Minerals Inc. will post 0.79 EPS for the current year.

Hudbay Minerals Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th were issued a $0.007 dividend. This represents a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a boost from Hudbay Minerals's previous semi-annual dividend of $0.01. Hudbay Minerals's payout ratio is 5.56%.

Hudbay Minerals Company 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.