Moore Capital Management LP Buys New Position in Hudbay Minerals Inc. (NYSE:HBM)

Moore Capital Management LP acquired a new stake in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 544,377 shares of the mining company's stock, valued at approximately $4,409,000. Moore Capital Management LP owned about 0.14% of Hudbay Minerals as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC lifted its holdings in shares of Hudbay Minerals by 2,414.5% in the 3rd quarter. Barclays PLC now owns 86,475 shares of the mining company's stock valued at $795,000 after acquiring an additional 83,036 shares during the last quarter. Artemis Investment Management LLP lifted its holdings 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 acquiring an additional 301,455 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Hudbay Minerals in the 4th quarter valued at about $183,000. Galibier Capital Management Ltd. lifted its holdings 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 valued at $21,188,000 after acquiring an additional 92,324 shares during the last quarter. Finally, Cibc World Market Inc. lifted its holdings in shares of Hudbay Minerals by 4.3% in the 4th quarter. Cibc World Market Inc. now owns 1,879,561 shares of the mining company's stock valued at $15,240,000 after acquiring an additional 78,267 shares during the last quarter. Institutional investors own 57.82% of the company's stock.

Wall Street Analysts Forecast Growth

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

Hudbay Minerals Trading Down 1.9%

Shares of Hudbay Minerals stock traded down $0.16 on Thursday, hitting $8.35. 8,219,319 shares of the company traded hands, compared to its average volume of 4,886,553. The company has a market cap of $3.30 billion, a PE ratio of 46.39 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 stock's 50 day moving average price is $7.46 and its 200-day moving average price is $8.16.

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

Hudbay Minerals Increases Dividend

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