Price T Rowe Associates Inc. MD Acquires Shares of 2,179,767 Hudbay Minerals Inc. (NYSE:HBM)

Price T Rowe Associates Inc. MD acquired a new stake in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,179,767 shares of the mining company's stock, valued at approximately $17,657,000. Price T Rowe Associates Inc. MD owned about 0.55% of Hudbay Minerals as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in shares of Hudbay Minerals by 9,877.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock valued at $25,000 after buying an additional 3,062 shares during the last quarter. Plato Investment Management Ltd purchased a new position in shares of Hudbay Minerals during the 4th quarter worth $95,000. Hsbc Holdings PLC acquired a new position in Hudbay Minerals in the fourth quarter valued at $97,000. Advisory Services Network LLC acquired a new position in Hudbay Minerals in the fourth quarter valued at $101,000. Finally, Smith Moore & CO. lifted its position in Hudbay Minerals by 28.4% during the fourth quarter. Smith Moore & CO. now owns 13,716 shares of the mining company's stock worth $111,000 after buying an additional 3,032 shares during the period. Institutional investors and hedge funds own 57.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HBM shares. Desjardins started coverage on shares of Hudbay Minerals in a research note on Friday, April 4th. They set a "buy" rating for the company. BMO Capital Markets initiated coverage on shares of Hudbay Minerals in a research note on Wednesday, April 16th. They set an "outperform" rating on the stock. Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, StockNews.com raised Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $14.00.

Hudbay Minerals Trading Up 3.4 %

HBM stock traded up $0.26 during midday trading on Tuesday, reaching $7.67. 2,898,170 shares of the company's stock traded hands, compared to its average volume of 7,007,137. Hudbay Minerals Inc. has a fifty-two week low of $5.95 and a fifty-two week high of $10.49. The business has a 50-day moving average price of $7.30 and a two-hundred day moving average price of $8.22. The company has a market capitalization of $3.03 billion, a P/E ratio of 42.59 and a beta of 1.62. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The company had revenue of $584.90 million during the quarter, compared to analysts' expectations of $588.28 million. During the same quarter in the prior year, the company earned $0.20 EPS. The firm's revenue was down 2.9% compared to the same quarter last year. Equities research analysts forecast that Hudbay Minerals Inc. will post 0.79 EPS for the current fiscal year.

Hudbay Minerals Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.007 per share. This represents a yield of 0.2%. The ex-dividend date was Tuesday, March 4th. This is a positive change from Hudbay Minerals's previous semi-annual dividend of $0.01. Hudbay Minerals's dividend payout ratio (DPR) is 5.56%.

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.