Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,648,100 shares of the mining company's stock, valued at approximately $14,618,000. Sumitomo Mitsui DS Asset Management Company Ltd owned 0.76% of Hudbay Minerals as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in shares of Hudbay Minerals by 2,894.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,330 shares of the mining company's stock valued at $26,000 after acquiring an additional 5,152 shares during the period. U S Global Investors Inc. purchased a new stake in shares of Hudbay Minerals in the 3rd quarter valued at approximately $29,000. US Bancorp DE grew its holdings in shares of Hudbay Minerals by 122.4% in the first quarter. US Bancorp DE now owns 7,899 shares of the mining company's stock valued at $62,000 after purchasing an additional 4,347 shares in the last quarter. Osaic Holdings Inc. grew 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 valued at $39,000 after purchasing an additional 6,091 shares in the last quarter. Finally, Wells Fargo & Company MN grew 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 valued at $48,000 after purchasing an additional 2,300 shares in the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on HBM. Raymond James lifted their price objective on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an "outperform" rating in a report on Wednesday, March 20th. Bank of America upgraded shares of Hudbay Minerals from a "neutral" rating to a "buy" rating and set a $9.00 price objective for the company in a report on Tuesday, April 9th. Stifel Nicolaus began coverage on shares of Hudbay Minerals in a report on Tuesday, March 26th. They issued a "buy" rating for the company. Finally, StockNews.com upgraded shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Friday, March 29th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $9.75.
Get Our Latest Report on Hudbay Minerals
Hudbay Minerals Stock Down 1.1 %
NYSE HBM traded down $0.09 on Friday, hitting $7.79. 3,611,175 shares of the stock were exchanged, compared to its average volume of 2,582,197. 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 Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $8.11. The company has a market cap of $2.73 billion, a PE ratio of 38.95, a PEG ratio of 0.79 and a beta of 1.95. The company has a 50-day moving average price of $6.58 and a 200-day moving average price of $5.52.
Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings results on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $602.20 million during the quarter, compared to analysts' expectations of $552.74 million. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The firm's revenue was up 87.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 EPS. Sell-side analysts anticipate that Hudbay Minerals Inc. will post 0.42 EPS for the current fiscal year.
Hudbay Minerals Cuts Dividend
The business also recently disclosed a semi-annual dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 5th were given a dividend of $0.0074 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a dividend yield of 0.3%. Hudbay Minerals's dividend payout ratio is presently 5.00%.
About Hudbay Minerals
(
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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