Letko Brosseau & Associates Inc. Cuts Stake in Hudbay Minerals Inc. (NYSE:HBM)

Letko Brosseau & Associates Inc. lessened its stake in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,083,633 shares of the mining company's stock after selling 373,775 shares during the quarter. Hudbay Minerals comprises about 1.4% of Letko Brosseau & Associates Inc.'s investment portfolio, making the stock its 26th biggest position. Letko Brosseau & Associates Inc. owned about 2.30% of Hudbay Minerals worth $73,644,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Encompass Capital Advisors LLC grew its holdings in Hudbay Minerals by 99.1% during 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 lifted its stake in shares of Hudbay Minerals by 90.5% during the 4th quarter. Deutsche Bank AG now owns 26,582 shares of the mining company's stock worth $215,000 after purchasing an additional 12,630 shares during the period. Eagle Global Advisors LLC purchased a new position in shares of Hudbay Minerals during the 4th quarter worth $168,000. CastleKnight Management LP lifted its stake in shares of Hudbay Minerals by 12.4% during the 4th quarter. CastleKnight Management LP now owns 1,561,700 shares of the mining company's stock worth $12,659,000 after purchasing an additional 172,100 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of Hudbay Minerals by 24.3% during the 4th quarter. Cetera Investment Advisers now owns 19,224 shares of the mining company's stock worth $156,000 after purchasing an additional 3,760 shares during the period. Institutional investors and hedge funds own 57.82% of the company's stock.

Hudbay Minerals Trading Down 2.8%

Shares of HBM traded down $0.24 during trading hours on Friday, hitting $8.13. The stock had a trading volume of 6,445,420 shares, compared to its average volume of 4,899,841. 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 firm has a market cap of $3.21 billion, a P/E ratio of 45.14 and a beta of 1.56. The company's fifty day simple moving average is $7.49 and its 200 day simple moving average is $8.15. Hudbay Minerals Inc. has a 12-month low of $5.95 and a 12-month high of $10.49.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share for the quarter, topping the consensus estimate 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%. The business's quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the company posted $0.22 EPS. Equities research analysts forecast that Hudbay Minerals Inc. will post 0.79 EPS for the current fiscal 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 given a $0.007 dividend. This is a positive change from Hudbay Minerals's previous semi-annual dividend of $0.01. This represents a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 4th. Hudbay Minerals's dividend payout ratio (DPR) is 2.63%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. StockNews.com raised Hudbay Minerals from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. Scotiabank reissued an "outperform" rating on shares of Hudbay Minerals in a research note on Tuesday. Desjardins assumed coverage on Hudbay Minerals in a research note on Friday, April 4th. They set a "buy" rating on the stock. Stifel Canada raised Hudbay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, BMO Capital Markets began coverage on Hudbay Minerals in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Hudbay Minerals presently has a consensus rating of "Buy" and a consensus price target of $14.00.

Hudbay Minerals 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.