Polar Asset Management Partners Inc. Has $13.73 Million Stake in Hudbay Minerals Inc. (NYSE:HBM)

Polar Asset Management Partners Inc. boosted 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 and Exchange Commission. The firm owned 1,694,700 shares of the mining company's stock after buying an additional 930,300 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.43% of Hudbay Minerals worth $13,727,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank bought a new position in Hudbay Minerals in the 4th quarter worth $50,260,000. Dimensional Fund Advisors LP increased its stake in shares of Hudbay Minerals by 86.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company's stock worth $74,105,000 after purchasing an additional 4,253,400 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in shares of Hudbay Minerals during the 4th quarter worth about $17,657,000. American Century Companies Inc. boosted its stake in Hudbay Minerals by 102.4% during the 4th quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company's stock valued at $34,684,000 after purchasing an additional 2,163,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Hudbay Minerals by 111.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,777,571 shares of the mining company's stock valued at $30,602,000 after purchasing an additional 1,994,431 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Stock Up 0.9%

Shares of NYSE HBM traded up $0.08 during mid-day trading on Tuesday, reaching $8.33. 4,640,863 shares of the company's stock were exchanged, compared to its average volume of 4,890,695. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $7.51 and a 200 day simple moving average of $8.13. Hudbay Minerals Inc. has a twelve month low of $5.95 and a twelve month high of $10.49. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 46.25 and a beta of 1.56.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its quarterly earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.14. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The firm had revenue of $594.90 million for the quarter, compared to the consensus estimate of $537.36 million. During the same quarter last year, the business posted $0.22 EPS. The company's revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities analysts expect that Hudbay Minerals Inc. will post 0.79 EPS for the current fiscal year.

Hudbay Minerals Increases Dividend

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

Analyst Ratings Changes

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

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.