MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 1,822,601 Shares of Hudbay Minerals Inc. (NYSE:HBM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 14.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,662,499 shares of the mining company's stock after buying an additional 1,822,601 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 3.71% of Hudbay Minerals worth $118,874,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HBM. Barclays PLC increased its position in shares of Hudbay Minerals by 2,414.5% in the third quarter. Barclays PLC now owns 86,475 shares of the mining company's stock worth $795,000 after purchasing an additional 83,036 shares during the last quarter. Galibier Capital Management Ltd. increased its position in shares of Hudbay Minerals by 3.7% in the fourth 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 during the last quarter. Artemis Investment Management LLP increased its position in shares of Hudbay Minerals by 13.3% in the fourth 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 last quarter. Strong Tower Advisory Services increased its position in shares of Hudbay Minerals by 5.5% in the fourth quarter. Strong Tower Advisory Services now owns 65,230 shares of the mining company's stock worth $528,000 after purchasing an additional 3,388 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in shares of Hudbay Minerals by 32.1% in the fourth quarter. Ballentine Partners LLC now owns 20,820 shares of the mining company's stock worth $169,000 after purchasing an additional 5,064 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HBM has been the topic of several research analyst reports. Desjardins assumed coverage on shares of Hudbay Minerals in a research report on Friday, April 4th. They issued a "buy" rating on the stock. StockNews.com raised Hudbay Minerals from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. Scotiabank reaffirmed an "outperform" rating on shares of Hudbay Minerals in a research note on Tuesday. BMO Capital Markets assumed coverage on Hudbay Minerals in a research note on Wednesday, April 16th. They issued an "outperform" rating for the company. Finally, Stifel Canada raised Hudbay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Hudbay Minerals presently has an average rating of "Buy" and an average target price of $14.00.

Hudbay Minerals Trading Down 2.8%

Shares of NYSE:HBM traded down $0.24 during trading on Friday, reaching $8.13. 6,445,420 shares of the company traded hands, compared to its average volume of 4,899,841. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 45.14 and a beta of 1.56. Hudbay Minerals Inc. has a 52-week low of $5.95 and a 52-week high of $10.49. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The business's fifty day moving average is $7.49 and its 200-day moving average is $8.15.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its quarterly earnings data on Monday, May 12th. The mining company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.14. The firm had revenue of $594.90 million during 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 earnings per share. As a group, analysts forecast that Hudbay Minerals Inc. will post 0.79 EPS for the current year.

Hudbay Minerals Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.007 per share. This represents a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Hudbay Minerals's previous semi-annual dividend of $0.01. Hudbay Minerals's dividend payout ratio is 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.