AGF Management Ltd. Purchases 684,380 Shares of Hudbay Minerals Inc. (NYSE:HBM)

AGF Management Ltd. boosted its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 96.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,396,581 shares of the mining company’s stock after buying an additional 684,380 shares during the period. AGF Management Ltd. owned approximately 0.35% of Hudbay Minerals worth $11,328,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HBM. Cinctive Capital Management LP raised 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 purchasing an additional 116,732 shares during the period. Bank of Montreal Can increased its holdings in 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 worth $71,308,000 after purchasing an additional 1,441,991 shares during the period. Toronto Dominion Bank increased its holdings 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 valued at $94,874,000 after acquiring an additional 9,166,952 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in Hudbay Minerals by 12.2% during the 3rd quarter. Jennison Associates LLC now owns 3,298,814 shares of the mining company’s stock valued at $30,340,000 after acquiring an additional 359,126 shares in the last quarter. 57.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Five equities research 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 stock currently has a consensus rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Trading Up 6.6 %

HBM stock opened at $7.04 on Wednesday. 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 Inc. has a 12-month low of $6.23 and a 12-month high of $10.49. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 39.09 and a beta of 1.72. The business’s 50-day moving average is $8.23 and its 200 day moving average is $8.50.

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 (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The firm had revenue of $584.90 million during the quarter, compared to analyst estimates of $588.28 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts anticipate 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 will be paid on Friday, March 21st. Investors of record on Tuesday, March 4th will be issued a $0.007 dividend. This represents a yield of 0.2%. This is a boost from Hudbay Minerals’s previous semi-annual dividend of $0.01. The ex-dividend date is Tuesday, March 4th. Hudbay Minerals’s 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.