CoreCommodity Management LLC Sells 264,875 Shares of Hudbay Minerals Inc. (NYSE:HBM)

CoreCommodity Management LLC cut its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 48.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 276,299 shares of the mining company's stock after selling 264,875 shares during the quarter. CoreCommodity Management LLC owned approximately 0.07% of Hudbay Minerals worth $2,237,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Pictet Asset Management Holding SA raised its stake in Hudbay Minerals by 2.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company's stock valued at $538,000 after purchasing an additional 1,278 shares in the last quarter. Sprott Inc. increased its holdings in shares of Hudbay Minerals by 3.5% in the 4th quarter. Sprott Inc. now owns 63,662 shares of the mining company's stock worth $516,000 after buying an additional 2,162 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Hudbay Minerals by 3.9% during the 4th quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company's stock valued at $589,000 after buying an additional 2,740 shares in the last quarter. Smith Moore & CO. lifted its holdings in shares of Hudbay Minerals by 28.4% during the 4th quarter. Smith Moore & CO. now owns 13,716 shares of the mining company's stock worth $111,000 after acquiring an additional 3,032 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Hudbay Minerals by 9,877.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock worth $25,000 after acquiring an additional 3,062 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors.

Hudbay Minerals Trading Up 0.9 %

HBM stock traded up $0.07 during trading on Friday, hitting $7.69. 8,667,399 shares of the company traded hands, compared to its average volume of 4,821,839. The company has a 50-day moving average of $7.35 and a 200-day moving average of $8.18. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. Hudbay Minerals Inc. has a 1 year low of $5.95 and a 1 year high of $10.49. The firm has a market capitalization of $3.04 billion, a PE ratio of 42.72 and a beta of 1.56.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The firm had revenue of $584.90 million during the quarter, compared to the consensus estimate of $588.28 million. During the same quarter last year, the company posted $0.20 EPS. Hudbay Minerals's revenue for the quarter was down 2.9% compared to the same quarter last year. Analysts predict that Hudbay Minerals Inc. will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Stifel Canada upgraded Hudbay Minerals to a "strong-buy" rating in a research report on Wednesday, March 19th. Desjardins assumed coverage on Hudbay Minerals in a research report on Friday, April 4th. They issued a "buy" rating for the company. BMO Capital Markets assumed coverage on shares of Hudbay Minerals in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. Finally, StockNews.com upgraded shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $14.00.

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.