State of Tennessee Department of Treasury Purchases Shares of 238,866 Hudbay Minerals Inc. (NYSE:HBM)

State of Tennessee Department of Treasury acquired a new position in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 238,866 shares of the mining company's stock, valued at approximately $1,936,000. State of Tennessee Department of Treasury owned 0.06% of Hudbay Minerals as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Hudbay Minerals in the fourth quarter valued at $50,260,000. Dimensional Fund Advisors LP boosted its position in shares of Hudbay Minerals by 86.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company's stock valued at $74,105,000 after purchasing an additional 4,253,400 shares during the period. American Century Companies Inc. increased its stake in Hudbay Minerals by 102.4% in the 4th quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company's stock worth $34,684,000 after purchasing an additional 2,163,000 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Hudbay Minerals by 111.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,777,571 shares of the mining company's stock valued at $30,602,000 after buying an additional 1,994,431 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Hudbay Minerals by 181.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,346,753 shares of the mining company's stock worth $10,909,000 after buying an additional 867,456 shares during the period. 57.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Hudbay Minerals Price Performance

HBM stock traded up $0.19 during trading on Friday, hitting $7.47. 4,175,290 shares of the stock traded hands, compared to its average volume of 4,756,560. 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 stock 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 one year low of $5.95 and a one year high of $10.49. The company has a 50 day simple moving average of $7.29 and a 200 day simple moving average of $8.26.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings data 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 firm had revenue of $584.90 million during the quarter, compared to the consensus estimate of $588.28 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The firm's quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 earnings per share. 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 disclosed a semi-annual dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 4th were paid a dividend of $0.007 per share. This is a positive change from Hudbay Minerals's previous semi-annual dividend of $0.01. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a yield of 0.2%. Hudbay Minerals's dividend payout ratio (DPR) is presently 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.