Sprott Inc. Grows Position in Hudbay Minerals Inc. (NYSE:HBM)

Sprott Inc. grew its position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 63,662 shares of the mining company’s stock after acquiring an additional 2,162 shares during the quarter. Sprott Inc.’s holdings in Hudbay Minerals were worth $516,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cinctive Capital Management LP lifted its position in Hudbay Minerals by 39.7% during the third quarter. Cinctive Capital Management LP now owns 410,669 shares of the mining company’s stock valued at $3,777,000 after buying an additional 116,732 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Hudbay Minerals by 23.1% during the 3rd quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock valued at $71,308,000 after acquiring an additional 1,441,991 shares in the last quarter. Toronto Dominion Bank boosted its position in Hudbay Minerals by 300.9% during the 3rd quarter. Toronto Dominion Bank now owns 226,841 shares of the mining company’s stock worth $2,085,000 after purchasing an additional 170,257 shares during the period. Mountaineer Partners Management LLC boosted its position in Hudbay Minerals by 792.5% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock worth $94,874,000 after purchasing an additional 9,166,952 shares during the period. Finally, Jennison Associates LLC increased its holdings in Hudbay Minerals by 12.2% in the 3rd quarter. Jennison Associates LLC now owns 3,298,814 shares of the mining company’s stock valued at $30,340,000 after purchasing an additional 359,126 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Price Performance

Shares of HBM stock opened at $7.11 on Wednesday. The firm has a fifty day simple moving average of $8.45 and a 200-day simple moving average of $8.55. The company has a market capitalization of $2.81 billion, a PE ratio of 39.47 and a beta of 1.74. Hudbay Minerals Inc. has a twelve month low of $5.45 and a twelve month high of $10.49. 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 (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data 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 net margin of 3.80% and a return on equity of 7.29%. The firm had revenue of $584.90 million during the quarter, compared to analysts’ expectations of $588.28 million. During the same period in the previous year, the company earned $0.20 earnings per share. The business’s quarterly revenue was down 2.9% on a year-over-year basis. Equities research analysts anticipate that Hudbay Minerals Inc. will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.007 per share. This represents a yield of 0.2%. The ex-dividend date is 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 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.