LPL Financial LLC Reduces Stock Position in Hudbay Minerals Inc. (NYSE:HBM)

LPL Financial LLC lowered its stake in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 77.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,069 shares of the mining company's stock after selling 91,711 shares during the quarter. LPL Financial LLC's holdings in Hudbay Minerals were worth $211,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in HBM. Connor Clark & Lunn Investment Management Ltd. grew its position in Hudbay Minerals by 0.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,800,892 shares of the mining company's stock valued at $63,196,000 after buying an additional 44,237 shares during the period. American Century Companies Inc. grew its position in shares of Hudbay Minerals by 102.4% during the 4th quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company's stock valued at $34,684,000 after acquiring an additional 2,163,000 shares during the period. Galibier Capital Management Ltd. increased its stake in shares of Hudbay Minerals by 3.7% in the 4th quarter. Galibier Capital Management Ltd. now owns 2,613,432 shares of the mining company's stock worth $21,188,000 after purchasing an additional 92,324 shares in the last quarter. Artemis Investment Management LLP raised its holdings in 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 worth $20,858,000 after purchasing an additional 301,455 shares during the period. Finally, Cibc World Market Inc. lifted its position in Hudbay Minerals by 4.3% during the fourth quarter. Cibc World Market Inc. now owns 1,879,561 shares of the mining company's stock valued at $15,240,000 after purchasing an additional 78,267 shares in the last quarter. Institutional investors own 57.82% of the company's stock.

Analyst Upgrades and Downgrades

HBM has been the subject of a number of analyst reports. BMO Capital Markets started coverage on Hudbay Minerals in a research report on Wednesday, April 16th. They issued an "outperform" rating for the company. Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. StockNews.com upgraded shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Finally, Desjardins began coverage on shares of Hudbay Minerals in a report on Friday, April 4th. They issued a "buy" rating for the company. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $14.00.

Hudbay Minerals Price Performance

Shares of Hudbay Minerals stock traded up $0.19 on Friday, hitting $7.47. 4,175,290 shares of the company traded hands, compared to its average volume of 4,773,552. 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 simple moving average of $7.30 and a 200 day simple moving average of $8.24. 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 market capitalization of $2.95 billion, a P/E ratio of 41.50 and a beta of 1.62.

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 analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $588.28 million. During the same quarter in the prior year, the firm posted $0.20 earnings per share. The business's revenue was down 2.9% on a year-over-year basis. Research analysts expect that Hudbay Minerals Inc. will post 0.79 earnings per share 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 an increase from Hudbay Minerals's previous semi-annual dividend of $0.01. This represents a dividend yield of 0.2%. The ex-dividend date was Tuesday, March 4th. Hudbay Minerals's payout ratio is currently 5.56%.

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.