Regal Partners Ltd Sells 349,295 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Regal Partners Ltd trimmed its position in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 13.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,324,223 shares of the mining company's stock after selling 349,295 shares during the quarter. Hudbay Minerals accounts for 1.9% of Regal Partners Ltd's holdings, making the stock its 16th biggest holding. Regal Partners Ltd owned 0.59% of Hudbay Minerals worth $18,826,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Tower Research Capital LLC TRC boosted its stake in 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 in the last quarter. Plato Investment Management Ltd acquired a new position in Hudbay Minerals in the fourth quarter valued at $95,000. Hsbc Holdings PLC bought a new stake in Hudbay Minerals in the fourth quarter worth approximately $97,000. Advisory Services Network LLC bought a new stake in Hudbay Minerals in the fourth quarter valued at $101,000. Finally, Smith Moore & CO. grew its stake in Hudbay Minerals by 28.4% in the fourth quarter. Smith Moore & CO. now owns 13,716 shares of the mining company's stock valued at $111,000 after acquiring an additional 3,032 shares during the period. 57.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Hudbay Minerals Price Performance

Shares of NYSE HBM traded up $0.19 during midday trading on Friday, hitting $7.47. 4,175,290 shares of the company's stock were exchanged, compared to its average volume of 4,767,339. 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's fifty day moving average price is $7.30 and its two-hundred day moving average price is $8.25. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 41.50 and a beta of 1.62. Hudbay Minerals Inc. has a 12-month low of $5.95 and a 12-month high of $10.49.

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 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). The company had revenue of $584.90 million during the quarter, compared to analysts' expectations of $588.28 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. Hudbay Minerals's quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. As a group, research analysts forecast that Hudbay Minerals Inc. will post 0.79 EPS for the current fiscal year.

Hudbay Minerals Increases Dividend

The company also recently declared 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. The ex-dividend date was Tuesday, March 4th. This represents a yield of 0.2%. This is a positive change from Hudbay Minerals's previous semi-annual dividend of $0.01. Hudbay Minerals's payout ratio is 5.56%.

About Hudbay Minerals

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.