Decade Renewable Partners LP Has $8.76 Million Stock Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Decade Renewable Partners LP raised its position in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 56.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,081,767 shares of the mining company's stock after acquiring an additional 392,250 shares during the quarter. Hudbay Minerals makes up about 4.3% of Decade Renewable Partners LP's investment portfolio, making the stock its 9th largest holding. Decade Renewable Partners LP owned 0.27% of Hudbay Minerals worth $8,762,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of HBM. Pictet Asset Management Holding SA grew its holdings in Hudbay Minerals by 2.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company's stock worth $538,000 after purchasing an additional 1,278 shares during the period. Sprott Inc. raised its stake in Hudbay Minerals by 3.5% in the 4th quarter. Sprott Inc. now owns 63,662 shares of the mining company's stock valued at $516,000 after acquiring an additional 2,162 shares during the period. Alliancebernstein L.P. lifted its stake 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 worth $589,000 after buying an additional 2,740 shares during the last quarter. Smith Moore & CO. increased its position in 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 buying an additional 3,032 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of 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 valued at $25,000 after acquiring an additional 3,062 shares during the period. Institutional investors own 57.82% of the company's stock.

Hudbay Minerals Price Performance

Shares of Hudbay Minerals stock traded up $0.03 during trading on Thursday, reaching $7.30. 4,796,231 shares of the company's stock were exchanged, compared to its average volume of 4,758,885. The firm's 50-day moving average price is $7.29 and its 200 day moving average price is $8.27. The company has a market cap of $2.88 billion, a P/E ratio of 40.53 and a beta of 1.62. 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.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $588.28 million. During the same period last year, the firm posted $0.20 earnings per share. The company's revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, research analysts anticipate that Hudbay Minerals Inc. will post 0.79 earnings per share for the current year.

Hudbay Minerals Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 4th were given a dividend of $0.007 per share. The ex-dividend date was Tuesday, March 4th. This represents a yield of 0.2%. 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%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Stifel Canada upgraded shares of Hudbay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. StockNews.com raised Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. BMO Capital Markets started coverage on Hudbay Minerals in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. Finally, Desjardins started coverage on Hudbay Minerals in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus 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.