Hudbay Minerals Inc. (NYSE:HBM) Shares Purchased by Intact Investment Management Inc.

Intact Investment Management Inc. lifted its position in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 23.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,074,300 shares of the mining company's stock after acquiring an additional 201,800 shares during the quarter. Intact Investment Management Inc. owned 0.31% of Hudbay Minerals worth $5,911,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. L1 Capital Pty Ltd raised its holdings in Hudbay Minerals by 15.1% in the third quarter. L1 Capital Pty Ltd now owns 16,299,356 shares of the mining company's stock worth $79,378,000 after purchasing an additional 2,141,437 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Hudbay Minerals by 28.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company's stock worth $51,836,000 after purchasing an additional 2,085,641 shares in the last quarter. Invesco Ltd. raised its holdings in Hudbay Minerals by 60.2% in the third quarter. Invesco Ltd. now owns 6,998,581 shares of the mining company's stock worth $34,083,000 after purchasing an additional 2,630,780 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Hudbay Minerals by 33.8% in the fourth quarter. Mackenzie Financial Corp now owns 5,014,948 shares of the mining company's stock worth $27,604,000 after purchasing an additional 1,266,717 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Hudbay Minerals in the fourth quarter worth about $14,618,000. 57.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HBM has been the subject of a number of recent research reports. 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 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 target on the stock in a research note on Tuesday, April 9th. Stifel Nicolaus started coverage on Hudbay Minerals in a research note on Tuesday, March 26th. They set a "buy" rating on the stock. Finally, StockNews.com upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Friday, March 29th. Nine equities 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 Stock Performance

NYSE HBM traded up $0.51 during trading hours on Friday, reaching $8.63. The stock had a trading volume of 5,531,443 shares, compared to its average volume of 2,840,807. The stock has a fifty day moving average of $6.85 and a 200 day moving average of $5.64. The stock has a market cap of $3.03 billion, a P/E ratio of 43.15, a price-to-earnings-growth ratio of 0.92 and a beta of 1.95. Hudbay Minerals Inc. has a 52-week low of $3.94 and a 52-week high of $8.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.87 and a current ratio of 1.25.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its earnings results on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.06. The firm 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%. Hudbay Minerals's revenue for the quarter was up 87.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.01 earnings per share. Sell-side analysts predict that Hudbay Minerals Inc. will post 0.39 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 given a $0.0074 dividend. The ex-dividend date was Monday, March 4th. This represents a yield of 0.3%. Hudbay Minerals's dividend payout ratio is currently 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.