Vanguard Group Inc. Cuts Position in Hudbay Minerals Inc. (NYSE:HBM)

Vanguard Group Inc. lessened its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 20.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,442,341 shares of the mining company's stock after selling 2,179,278 shares during the quarter. Vanguard Group Inc. owned approximately 2.42% of Hudbay Minerals worth $41,114,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. L1 Capital Pty Ltd increased its holdings in shares of Hudbay Minerals by 15.1% during the 3rd quarter. L1 Capital Pty Ltd now owns 16,299,356 shares of the mining company's stock worth $79,378,000 after acquiring an additional 2,141,437 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Hudbay Minerals by 6.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,290,344 shares of the mining company's stock worth $35,643,000 after purchasing an additional 467,872 shares during the period. Invesco Ltd. increased its holdings in shares of Hudbay Minerals by 60.2% in the third quarter. Invesco Ltd. now owns 6,998,581 shares of the mining company's stock valued at $34,083,000 after purchasing an additional 2,630,780 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Hudbay Minerals by 96.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,000,946 shares of the mining company's stock valued at $25,269,000 after purchasing an additional 2,460,627 shares during the period. Finally, Morgan Stanley lifted its stake in shares of Hudbay Minerals by 517.8% during the 4th quarter. Morgan Stanley now owns 3,543,730 shares of the mining company's stock worth $17,967,000 after buying an additional 2,970,160 shares during the last quarter. Institutional investors own 57.82% of the company's stock.

Hudbay Minerals Price Performance

NYSE:HBM traded down $0.16 during mid-day trading on Wednesday, reaching $7.83. The stock had a trading volume of 3,252,083 shares, compared to its average volume of 2,164,750. Hudbay Minerals Inc. has a 12 month low of $3.94 and a 12 month high of $8.11. The stock has a market capitalization of $2.74 billion, a PE ratio of 39.90, a P/E/G ratio of 1.36 and a beta of 1.95. 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 stock has a 50-day simple moving average of $6.21 and a two-hundred day simple moving average of $5.35.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.06. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The firm 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 business posted $0.01 EPS. The company's revenue was up 87.5% compared to the same quarter last year. On average, equities analysts anticipate that Hudbay Minerals Inc. will post 0.42 earnings per share for the current year.

Hudbay Minerals Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.0074 per share. This represents a yield of 0.3%. The ex-dividend date was Monday, March 4th. Hudbay Minerals's payout ratio is 5.00%.

Analysts Set New Price Targets

A number of research analysts recently commented on HBM shares. Bank of America upgraded shares of Hudbay Minerals from a "neutral" rating to a "buy" rating and set a $9.00 price target on the stock in a research note on Tuesday. Raymond James upped their target price on Hudbay Minerals from $9.00 to $10.50 and gave the company an "outperform" rating in a research report on Wednesday, March 20th. Stifel Nicolaus began coverage on Hudbay Minerals in a report on Tuesday, March 26th. They set a "buy" rating for the company. Finally, StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, March 29th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $9.75.

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.