Encompass Capital Advisors LLC Raises Stake in Hudbay Minerals Inc. (NYSE:HBM)

Encompass Capital Advisors LLC raised its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 99.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,484,227 shares of the mining company's stock after buying an additional 1,734,255 shares during the quarter. Encompass Capital Advisors LLC owned about 0.88% of Hudbay Minerals worth $28,246,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of HBM. Geode Capital Management LLC grew its holdings in shares of Hudbay Minerals by 4.9% in the third quarter. Geode Capital Management LLC now owns 183,967 shares of the mining company's stock valued at $1,700,000 after purchasing an additional 8,664 shares during the period. Barclays PLC increased its position in Hudbay Minerals by 2,414.5% during 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 last quarter. Tidal Investments LLC acquired a new stake in Hudbay Minerals during the third quarter worth about $886,000. Galibier Capital Management Ltd. increased its position in Hudbay Minerals by 3.7% during the fourth 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, Artemis Investment Management LLP increased its position in Hudbay Minerals by 13.3% during the fourth quarter. Artemis Investment Management LLP now owns 2,574,709 shares of the mining company's stock worth $20,858,000 after purchasing an additional 301,455 shares during the last quarter. Hedge funds and other institutional investors own 57.82% of the company's stock.

Hudbay Minerals Stock Up 0.9%

Shares of NYSE HBM traded up $0.07 during midday trading on Friday, hitting $7.69. The company's stock had a trading volume of 8,667,399 shares, compared to its average volume of 4,828,579. The business's fifty day simple moving average is $7.35 and its two-hundred day simple moving average is $8.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. 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 price-to-earnings 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 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 business had revenue of $584.90 million during the quarter, compared to analysts' expectations of $588.28 million. During the same period in the previous year, the business posted $0.20 EPS. The company's revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities analysts predict that Hudbay Minerals Inc. will post 0.79 EPS for the current year.

Hudbay Minerals Increases Dividend

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

Analyst Upgrades and Downgrades

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

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.