Mackenzie Financial Corp Grows Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Mackenzie Financial Corp raised its stake in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 33.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,014,948 shares of the mining company's stock after purchasing an additional 1,266,717 shares during the period. Mackenzie Financial Corp owned 1.43% of Hudbay Minerals worth $27,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HBM. Tower Research Capital LLC TRC raised its holdings in shares of Hudbay Minerals by 2,894.4% in the third quarter. Tower Research Capital LLC TRC now owns 5,330 shares of the mining company's stock worth $26,000 after buying an additional 5,152 shares during the period. U S Global Investors Inc. purchased a new stake in shares of Hudbay Minerals in the third quarter worth approximately $29,000. Osaic Holdings Inc. raised its holdings in shares of Hudbay Minerals by 290.9% in the second quarter. Osaic Holdings Inc. now owns 8,185 shares of the mining company's stock worth $39,000 after buying an additional 6,091 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Hudbay Minerals by 29.7% in the second quarter. Wells Fargo & Company MN now owns 10,043 shares of the mining company's stock worth $48,000 after buying an additional 2,300 shares during the period. Finally, CreativeOne Wealth LLC purchased a new position in Hudbay Minerals during the 2nd quarter worth $48,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HBM has been the topic of several recent research reports. Raymond James increased 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. Bank of America upgraded Hudbay Minerals from a "neutral" rating to a "buy" rating and set a $9.00 price objective for the company in a research note on Tuesday, April 9th. Stifel Nicolaus started coverage on Hudbay Minerals in a research note on Tuesday, March 26th. They issued a "buy" rating for the company. Finally, StockNews.com upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Friday, March 29th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Hudbay Minerals presently has a consensus rating of "Buy" and a consensus target price of $9.75.

Hudbay Minerals Price Performance

Shares of Hudbay Minerals stock traded up $0.27 on Thursday, hitting $7.88. 3,928,109 shares of the company were exchanged, compared to its average volume of 2,218,600. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 38.00, a price-to-earnings-growth ratio of 0.75 and a beta of 1.95. The company has a 50-day moving average price of $6.48 and a 200 day moving average price of $5.47. Hudbay Minerals Inc. has a 1-year low of $3.94 and a 1-year high of $8.11. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.61.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.06. The business had revenue of $602.20 million for the quarter, compared to analyst estimates of $552.74 million. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The company's revenue was up 87.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 earnings per share. As a group, sell-side analysts predict that Hudbay Minerals Inc. will post 0.44 earnings per share for the current fiscal year.

Hudbay Minerals Cuts Dividend

The firm 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. This represents a yield of 0.3%. The ex-dividend date of this dividend was Monday, March 4th. Hudbay Minerals's dividend payout ratio (DPR) is presently 5.00%.

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.