Hudbay Minerals Inc. (NYSE:HBM) Holdings Lowered by Graham Capital Management L.P.

Graham Capital Management L.P. cut its position in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 74.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,922 shares of the mining company's stock after selling 96,862 shares during the quarter. Graham Capital Management L.P.'s holdings in Hudbay Minerals were worth $275,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Encompass Capital Advisors LLC grew its position in Hudbay Minerals by 99.1% in the 4th quarter. Encompass Capital Advisors LLC now owns 3,484,227 shares of the mining company's stock valued at $28,246,000 after buying an additional 1,734,255 shares during the last quarter. Deutsche Bank AG grew its holdings in Hudbay Minerals by 90.5% during the 4th quarter. Deutsche Bank AG now owns 26,582 shares of the mining company's stock valued at $215,000 after buying an additional 12,630 shares during the last quarter. Eagle Global Advisors LLC purchased a new stake in Hudbay Minerals during the 4th quarter worth about $168,000. CastleKnight Management LP grew its holdings in shares of Hudbay Minerals by 12.4% during the fourth quarter. CastleKnight Management LP now owns 1,561,700 shares of the mining company's stock worth $12,659,000 after buying an additional 172,100 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in Hudbay Minerals by 24.3% in the 4th quarter. Cetera Investment Advisers now owns 19,224 shares of the mining company's stock valued at $156,000 after acquiring an additional 3,760 shares during the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on HBM shares. Desjardins assumed coverage on Hudbay Minerals in a report on Friday, April 4th. They issued a "buy" rating for the company. Stifel Canada raised Hudbay Minerals to a "strong-buy" rating in a research report on Wednesday, March 19th. StockNews.com upgraded Hudbay Minerals from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Scotiabank reiterated an "outperform" rating on shares of Hudbay Minerals in a research note on Tuesday, May 13th. Finally, BMO Capital Markets initiated coverage on Hudbay Minerals in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Hudbay Minerals has a consensus rating of "Buy" and a consensus target price of $14.00.

Hudbay Minerals Stock Performance

Shares of Hudbay Minerals stock traded up $0.15 during trading on Tuesday, hitting $8.40. 8,231,266 shares of the stock were exchanged, compared to its average volume of 4,909,343. Hudbay Minerals Inc. has a 12 month low of $5.95 and a 12 month high of $10.49. 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 stock has a market cap of $3.32 billion, a PE ratio of 46.67 and a beta of 1.56. The stock's fifty day moving average is $7.53 and its 200 day moving average is $8.13.

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

Hudbay Minerals Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 4th were issued a dividend of $0.007 per share. This is a positive change from Hudbay Minerals's previous semi-annual dividend of $0.01. This represents a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 4th. Hudbay Minerals's payout ratio is presently 2.63%.

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.