Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 28.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,375,985 shares of the mining company's stock after buying an additional 2,085,641 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 2.67% of Hudbay Minerals worth $51,836,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently bought and sold shares of HBM. Public Sector Pension Investment Board lifted its position in Hudbay Minerals by 19.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 748,020 shares of the mining company's stock worth $3,657,000 after buying an additional 122,540 shares in the last quarter. OLD National Bancorp IN purchased a new stake in shares of Hudbay Minerals during the third quarter worth $62,000. L1 Capital Pty Ltd boosted its position in Hudbay Minerals by 15.1% during the third quarter. L1 Capital Pty Ltd now owns 16,299,356 shares of the mining company's stock valued at $79,378,000 after purchasing an additional 2,141,437 shares during the last quarter. Legal & General Group Plc grew its stake in Hudbay Minerals by 1.0% in the third quarter. Legal & General Group Plc now owns 248,094 shares of the mining company's stock valued at $1,213,000 after purchasing an additional 2,520 shares in the last quarter. Finally, Alps Advisors Inc. increased its position in Hudbay Minerals by 41.0% in the 3rd quarter. Alps Advisors Inc. now owns 45,546 shares of the mining company's stock worth $222,000 after purchasing an additional 13,246 shares during the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.
Hudbay Minerals Stock Performance
Shares of HBM stock traded up $0.03 during trading on Friday, reaching $7.34. The company had a trading volume of 1,588,660 shares, compared to its average volume of 2,384,220. The firm's 50 day simple moving average is $6.13 and its two-hundred day simple moving average is $5.30. Hudbay Minerals Inc. has a one year low of $3.94 and a one year high of $7.52. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.87. The company has a market capitalization of $2.57 billion, a PE ratio of 36.70, a PEG ratio of 1.29 and a beta of 1.95.
Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings results on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The company had revenue of $602.20 million for the quarter, compared to the consensus estimate of $552.74 million. During the same quarter last year, the company posted $0.01 earnings per share. The company's revenue for the quarter was up 87.5% compared to the same quarter last year. Sell-side analysts forecast that Hudbay Minerals Inc. will post 0.44 earnings per share for the current year.
Hudbay Minerals Cuts Dividend
The company also recently announced a semi-annual dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 5th were issued a $0.0074 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a yield of 0.3%. Hudbay Minerals's dividend payout ratio (DPR) is presently 5.00%.
Analyst Ratings Changes
Several brokerages have recently issued reports on HBM. Stifel Nicolaus started coverage on Hudbay Minerals in a report on Tuesday, March 26th. They set a "buy" rating for the company. StockNews.com upgraded shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Friday, March 29th. Finally, Raymond James boosted their target price on shares of Hudbay Minerals from $9.00 to $10.50 and gave the stock an "outperform" rating in a research report on Wednesday, March 20th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, Hudbay Minerals currently has a consensus rating of "Buy" and an average price target of $9.90.
Get Our Latest Stock Report on HBM
Hudbay Minerals Profile
(
Free Report)
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.
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