EdgePoint Investment Group Inc. Decreases Holdings in Hudbay Minerals Inc. (NYSE:HBM)

EdgePoint Investment Group Inc. reduced its position in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,067,364 shares of the mining company's stock after selling 209,411 shares during the period. EdgePoint Investment Group Inc. owned approximately 1.28% of Hudbay Minerals worth $41,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HBM. Barclays PLC increased its holdings in Hudbay Minerals by 2,414.5% in the third quarter. Barclays PLC now owns 86,475 shares of the mining company's stock valued at $795,000 after purchasing an additional 83,036 shares during the period. Artemis Investment Management LLP increased its stake in Hudbay Minerals by 13.3% in the 4th quarter. Artemis Investment Management LLP now owns 2,574,709 shares of the mining company's stock valued at $20,858,000 after buying an additional 301,455 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Hudbay Minerals during the 4th quarter worth approximately $183,000. Galibier Capital Management Ltd. increased its stake in shares of Hudbay Minerals by 3.7% during the 4th quarter. Galibier Capital Management Ltd. now owns 2,613,432 shares of the mining company's stock worth $21,188,000 after purchasing an additional 92,324 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in Hudbay Minerals in the 3rd quarter valued at approximately $886,000. Institutional investors own 57.82% of the company's stock.

Analysts Set New Price Targets

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

Hudbay Minerals Price Performance

NYSE HBM traded up $0.07 on Friday, reaching $7.69. The company had a trading volume of 8,667,399 shares, compared to its average volume of 4,828,579. The firm's 50 day moving average price is $7.35 and its 200 day moving average price is $8.17. Hudbay Minerals Inc. has a 12 month low of $5.95 and a 12 month high of $10.49. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The stock 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 released its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The company had revenue of $584.90 million during the quarter, compared to analysts' expectations of $588.28 million. During the same period last year, the firm earned $0.20 earnings per share. Hudbay Minerals's quarterly revenue was down 2.9% on a year-over-year basis. As a group, equities analysts predict that Hudbay Minerals Inc. will post 0.79 earnings per share for the current year.

Hudbay Minerals Increases Dividend

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