Lighthouse Investment Partners LLC Sells 185,700 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Lighthouse Investment Partners LLC reduced its stake in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 88.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,700 shares of the mining company's stock after selling 185,700 shares during the period. Lighthouse Investment Partners LLC's holdings in Hudbay Minerals were worth $192,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Barclays PLC increased its position in shares of Hudbay Minerals by 2,414.5% during the third quarter. Barclays PLC now owns 86,475 shares of the mining company's stock worth $795,000 after buying an additional 83,036 shares during the period. Artemis Investment Management LLP lifted its stake in shares of Hudbay Minerals by 13.3% in the 4th quarter. Artemis Investment Management LLP now owns 2,574,709 shares of the mining company's stock valued at $20,858,000 after purchasing an additional 301,455 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Hudbay Minerals in the 4th quarter valued at about $183,000. Galibier Capital Management Ltd. boosted its position in shares of 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 valued at $21,188,000 after purchasing an additional 92,324 shares in the last quarter. Finally, Cibc World Market Inc. boosted its holdings in shares of Hudbay Minerals by 4.3% during the 4th quarter. Cibc World Market Inc. now owns 1,879,561 shares of the mining company's stock worth $15,240,000 after buying an additional 78,267 shares in the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently 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. BMO Capital Markets assumed coverage on Hudbay Minerals in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. StockNews.com raised shares of Hudbay Minerals from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Scotiabank restated an "outperform" rating on shares of Hudbay Minerals in a report on Tuesday, May 13th. Finally, Desjardins started coverage on shares of Hudbay Minerals in a research note on Friday, April 4th. They issued a "buy" rating on the stock. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $14.00.

Hudbay Minerals Stock Up 2.4%

Shares of Hudbay Minerals stock traded up $0.21 on Wednesday, hitting $8.61. The company had a trading volume of 2,022,148 shares, compared to its average volume of 4,899,205. Hudbay Minerals Inc. has a 1 year low of $5.95 and a 1 year 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 50 day moving average of $7.53 and a 200-day moving average of $8.13. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 47.86 and a beta of 1.56.

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

Hudbay Minerals Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th were issued a $0.007 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a dividend 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 is currently 2.63%.

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.