Hudbay Minerals Inc. (NYSE:HBM) Stake Boosted by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lifted its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 121.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,694,700 shares of the mining company's stock after purchasing an additional 930,300 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.43% of Hudbay Minerals worth $13,727,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Man Group plc boosted its holdings in Hudbay Minerals by 5.7% in the fourth quarter. Man Group plc now owns 2,260,362 shares of the mining company's stock valued at $18,316,000 after acquiring an additional 122,175 shares during the last quarter. Nokomis Capital L.L.C. boosted its holdings in Hudbay Minerals by 16.6% in the fourth quarter. Nokomis Capital L.L.C. now owns 709,312 shares of the mining company's stock valued at $5,745,000 after acquiring an additional 100,990 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Hudbay Minerals by 14.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,662,499 shares of the mining company's stock valued at $118,874,000 after acquiring an additional 1,822,601 shares during the last quarter. Moore Capital Management LP acquired a new position in Hudbay Minerals in the fourth quarter valued at $4,409,000. Finally, Encompass Capital Advisors LLC boosted its holdings in Hudbay Minerals by 99.1% in the fourth quarter. Encompass Capital Advisors LLC now owns 3,484,227 shares of the mining company's stock valued at $28,246,000 after acquiring an additional 1,734,255 shares during the last quarter. Institutional investors and hedge funds own 57.82% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HBM shares. Scotiabank reiterated an "outperform" rating on shares of Hudbay Minerals in a report on Tuesday, May 13th. StockNews.com raised Hudbay Minerals from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Stifel Canada raised Hudbay Minerals to a "strong-buy" rating in a research report on Wednesday, March 19th. Desjardins began coverage on Hudbay Minerals in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, BMO Capital Markets began coverage on Hudbay Minerals in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $14.00.

Hudbay Minerals Stock Down 2.8%

NYSE:HBM traded down $0.24 during mid-day trading on Friday, hitting $8.13. The company had a trading volume of 6,445,420 shares, compared to its average volume of 4,892,766. The business has a fifty day simple moving average of $7.49 and a 200-day simple moving average of $8.14. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. Hudbay Minerals Inc. has a 1 year low of $5.95 and a 1 year high of $10.49. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 45.14 and a beta of 1.56.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings data on Monday, May 12th. The mining company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.14. The firm had revenue of $594.90 million during the quarter, compared to analyst estimates of $537.36 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. Hudbay Minerals's quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. Equities analysts forecast that Hudbay Minerals Inc. will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.007 per share. The ex-dividend date was Tuesday, March 4th. This is a positive change from Hudbay Minerals's previous semi-annual dividend of $0.01. This represents a dividend yield of 0.2%. Hudbay Minerals's dividend payout ratio is 2.63%.

Hudbay Minerals Company 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.