Hudbay Minerals Inc. (NYSE:HBM) Stock Holdings Lessened by Intact Investment Management Inc.

Intact Investment Management Inc. cut its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 50.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 175,000 shares of the mining company’s stock after selling 181,600 shares during the period. Intact Investment Management Inc.’s holdings in Hudbay Minerals were worth $1,419,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Mountaineer Partners Management LLC raised its holdings in shares of Hudbay Minerals by 792.5% during the third quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock worth $94,874,000 after acquiring an additional 9,166,952 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Hudbay Minerals by 23.1% in 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 buying an additional 1,441,991 shares in the last quarter. Verition Fund Management LLC increased its holdings in Hudbay Minerals by 106.8% in the third quarter. Verition Fund Management LLC now owns 2,585,032 shares of the mining company’s stock worth $23,756,000 after buying an additional 1,334,969 shares during the last quarter. Polar Asset Management Partners Inc. raised its position in Hudbay Minerals by 1,310.6% during the third quarter. Polar Asset Management Partners Inc. now owns 764,400 shares of the mining company’s stock valued at $7,026,000 after acquiring an additional 710,212 shares in the last quarter. Finally, AGF Management Ltd. lifted its stake in Hudbay Minerals by 96.1% in the fourth quarter. AGF Management Ltd. now owns 1,396,581 shares of the mining company’s stock valued at $11,328,000 after acquiring an additional 684,380 shares during the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals Stock Up 4.5 %

Shares of Hudbay Minerals stock opened at $7.73 on Friday. Hudbay Minerals Inc. has a 12-month low of $6.42 and a 12-month high of $10.49. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The stock has a 50 day moving average price of $8.18 and a two-hundred day moving average price of $8.48. The stock has a market capitalization of $3.05 billion, a P/E ratio of 42.92 and a beta of 1.72.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share (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 analyst estimates of $588.28 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. 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 earnings per share for the current year.

Hudbay Minerals Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th will be paid a $0.007 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. This represents a dividend yield of 0.2%. Hudbay Minerals’s payout ratio is presently 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.