Dimensional Fund Advisors LP increased its holdings in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 86.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,149,134 shares of the mining company's stock after acquiring an additional 4,253,400 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.32% of Hudbay Minerals worth $74,105,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC increased its stake 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. Geode Capital Management LLC grew its holdings in shares of Hudbay Minerals by 4.9% during the third quarter. Geode Capital Management LLC now owns 183,967 shares of the mining company's stock worth $1,700,000 after buying an additional 8,664 shares during the last quarter. Tidal Investments LLC acquired a new position in Hudbay Minerals in the 3rd quarter valued at about $886,000. Oliver Luxxe Assets LLC raised its stake in Hudbay Minerals by 2.5% during the 4th quarter. Oliver Luxxe Assets LLC now owns 132,498 shares of the mining company's stock valued at $1,073,000 after acquiring an additional 3,282 shares during the last quarter. Finally, Galibier Capital Management Ltd. lifted its position in 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 acquiring an additional 92,324 shares during the period. Hedge funds and other institutional investors own 57.82% of the company's stock.
Hudbay Minerals Price Performance
Shares of Hudbay Minerals stock traded up $0.12 during trading on Tuesday, reaching $7.53. The company's stock had a trading volume of 780,849 shares, compared to its average volume of 4,752,914. The business has a 50 day moving average price of $7.30 and a 200-day moving average price of $8.22. Hudbay Minerals Inc. has a 12-month low of $5.95 and a 12-month high of $10.49. The company has a market capitalization of $2.97 billion, a P/E ratio of 41.92 and a beta of 1.62. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44.
Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its earnings results on Wednesday, February 19th. The mining company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The company had revenue of $584.90 million for the quarter, compared to analysts' expectations of $588.28 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. Hudbay Minerals's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 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 disclosed 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. The ex-dividend date was Tuesday, March 4th. This is a boost from Hudbay Minerals's previous semi-annual dividend of $0.01. This represents a yield of 0.2%. Hudbay Minerals's payout ratio is currently 5.56%.
Analyst Upgrades and Downgrades
HBM has been the topic of a number of recent research reports. Desjardins assumed coverage on Hudbay Minerals in a report on Friday, April 4th. They issued a "buy" rating on the stock. StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. BMO Capital Markets initiated coverage on shares of Hudbay Minerals in a research note on Wednesday, April 16th. They issued an "outperform" rating for the company. Finally, Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Hudbay Minerals currently has a consensus rating of "Buy" and a consensus price target of $14.00.
Read Our Latest Stock Report on HBM
About Hudbay Minerals
(
Free Report)
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.
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