Magnetar Financial LLC Buys New Stake in Hudbay Minerals Inc. (NYSE:HBM)

Magnetar Financial LLC bought a new stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the 4th quarter, HoldingsChannel.com reports. The firm bought 58,849 shares of the mining company’s stock, valued at approximately $477,000.

Several other large investors have also recently made changes to their positions in the company. Nikko Asset Management Americas Inc. acquired a new position in shares of Hudbay Minerals in the 4th quarter valued at $335,000. Swiss National Bank lifted its stake in shares of Hudbay Minerals by 0.6% in the 4th quarter. Swiss National Bank now owns 778,500 shares of the mining company’s stock valued at $6,312,000 after purchasing an additional 4,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Hudbay Minerals by 0.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,800,892 shares of the mining company’s stock worth $63,196,000 after acquiring an additional 44,237 shares in the last quarter. HighTower Advisors LLC increased its holdings in Hudbay Minerals by 13.2% in the 4th quarter. HighTower Advisors LLC now owns 52,042 shares of the mining company’s stock worth $422,000 after acquiring an additional 6,072 shares in the last quarter. Finally, Wealth High Governance Capital Ltda increased its holdings in Hudbay Minerals by 24.4% in the 4th quarter. Wealth High Governance Capital Ltda now owns 248,884 shares of the mining company’s stock worth $2,016,000 after acquiring an additional 48,884 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HBM has been the subject of several recent analyst reports. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a report on Wednesday. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $11.50.

Hudbay Minerals Price Performance

Hudbay Minerals stock opened at $8.15 on Friday. Hudbay Minerals Inc. has a 52-week low of $6.42 and a 52-week high of $10.49. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 45.25 and a beta of 1.72. The company has a fifty day simple moving average of $8.13 and a 200-day simple moving average of $8.49. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released 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). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The business had revenue of $584.90 million for the quarter, compared to analysts’ expectations of $588.28 million. During the same period in the previous year, the company earned $0.20 EPS. Hudbay Minerals’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities analysts anticipate that Hudbay Minerals Inc. will post 0.79 EPS for the current fiscal year.

Hudbay Minerals Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th were issued 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 was Tuesday, March 4th. This represents a dividend yield of 0.2%. Hudbay Minerals’s dividend payout ratio 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.