Letko Brosseau & Associates Inc. lowered its stake in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,083,633 shares of the mining company's stock after selling 373,775 shares during the quarter. Hudbay Minerals comprises approximately 1.4% of Letko Brosseau & Associates Inc.'s holdings, making the stock its 26th largest holding. Letko Brosseau & Associates Inc. owned 2.30% of Hudbay Minerals worth $73,644,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Hudbay Minerals by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 15,267,805 shares of the mining company's stock valued at $123,852,000 after purchasing an additional 255,191 shares during the last quarter. Invesco Ltd. increased its stake in shares of Hudbay Minerals by 2.7% in the 4th quarter. Invesco Ltd. now owns 11,815,849 shares of the mining company's stock valued at $95,708,000 after acquiring an additional 314,619 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Hudbay Minerals by 86.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company's stock valued at $74,105,000 after acquiring an additional 4,253,400 shares during the period. Bank of Montreal Can raised its position in shares of Hudbay Minerals by 4.9% in the 4th quarter. Bank of Montreal Can now owns 8,065,777 shares of the mining company's stock valued at $65,342,000 after acquiring an additional 374,258 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Hudbay Minerals by 0.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,800,892 shares of the mining company's stock worth $63,196,000 after acquiring an additional 44,237 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors.
Hudbay Minerals Stock Down 1.9%
Shares of HBM stock traded down $0.16 during trading hours on Thursday, hitting $8.35. 8,219,319 shares of the company were exchanged, compared to its average volume of 4,886,553. The company has a market capitalization of $3.30 billion, a PE ratio of 46.39 and a beta of 1.56. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. Hudbay Minerals Inc. has a 52 week low of $5.95 and a 52 week high of $10.49. The business has a 50 day moving average of $7.43 and a two-hundred day moving average of $8.16.
Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share (EPS) 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 analyst estimates of $537.36 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 up 13.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.22 EPS. Analysts anticipate that Hudbay Minerals Inc. will post 0.79 earnings per share for the current fiscal year.
Hudbay Minerals Increases Dividend
The firm also recently announced a semi-annual dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 4th were given 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 dividend payout ratio (DPR) is 5.56%.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the stock. BMO Capital Markets assumed coverage on shares of Hudbay Minerals in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Desjardins started coverage on shares of Hudbay Minerals in a research report on Friday, April 4th. They issued a "buy" rating for the company. Scotiabank reiterated an "outperform" rating on shares of Hudbay Minerals in a report on Tuesday. Stifel Canada raised Hudbay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, StockNews.com upgraded Hudbay Minerals from a "buy" rating to a "strong-buy" rating in a report on Tuesday. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Hudbay Minerals has a consensus rating of "Buy" and a consensus price target of $14.00.
View Our Latest Analysis on HBM
Hudbay Minerals Company Profile
(
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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