Arrowstreet Capital Limited Partnership Has $30.60 Million Stake in Hudbay Minerals Inc. (NYSE:HBM)

Arrowstreet Capital Limited Partnership increased its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 111.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,777,571 shares of the mining company’s stock after purchasing an additional 1,994,431 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Hudbay Minerals were worth $30,602,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in HBM. Plato Investment Management Ltd acquired a new position in shares of Hudbay Minerals during the fourth quarter worth about $95,000. First Affirmative Financial Network grew its stake in shares of Hudbay Minerals by 39.2% during the 4th quarter. First Affirmative Financial Network now owns 15,563 shares of the mining company’s stock worth $126,000 after acquiring an additional 4,386 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Hudbay Minerals in the fourth quarter valued at approximately $133,000. Ballentine Partners LLC lifted its position in shares of Hudbay Minerals by 32.1% in the fourth quarter. Ballentine Partners LLC now owns 20,820 shares of the mining company’s stock worth $169,000 after purchasing an additional 5,064 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Hudbay Minerals during the third quarter worth $178,000. Institutional investors own 57.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a report on Wednesday, March 19th. Three 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.com, the stock currently has a consensus rating of “Buy” and an average price target of $11.50.

Hudbay Minerals Stock Performance

NYSE HBM opened at $7.69 on Thursday. The firm’s fifty day moving average price is $8.01 and its two-hundred day moving average price is $8.54. Hudbay Minerals Inc. has a 1 year low of $6.42 and a 1 year high of $10.49. The firm has a market capitalization of $3.04 billion, a P/E ratio of 42.72 and a beta of 1.72. 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 issued 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 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 revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 earnings per share. As a group, research analysts anticipate that Hudbay Minerals Inc. will post 0.79 EPS for the current 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 paid a dividend of $0.007 per share. This is an increase from Hudbay Minerals’s previous semi-annual dividend of $0.01. This represents a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 4th. Hudbay Minerals’s payout ratio is currently 5.56%.

About Hudbay Minerals

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.