Smith Moore & CO. Increases Stock Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Smith Moore & CO. increased its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 28.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,716 shares of the mining company’s stock after acquiring an additional 3,032 shares during the quarter. Smith Moore & CO.’s holdings in Hudbay Minerals were worth $111,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in HBM. Pictet Asset Management Holding SA increased its stake in shares of Hudbay Minerals by 2.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company’s stock worth $538,000 after purchasing an additional 1,278 shares in the last quarter. Sprott Inc. boosted its holdings in Hudbay Minerals by 3.5% in the 4th quarter. Sprott Inc. now owns 63,662 shares of the mining company’s stock worth $516,000 after buying an additional 2,162 shares during the last quarter. FMR LLC raised its holdings in shares of Hudbay Minerals by 0.7% during the third quarter. FMR LLC now owns 354,392 shares of the mining company’s stock valued at $3,260,000 after acquiring an additional 2,624 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Hudbay Minerals by 3.9% in the fourth quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company’s stock worth $589,000 after acquiring an additional 2,740 shares during the last quarter. Finally, Oliver Luxxe Assets LLC increased its position in shares of Hudbay Minerals by 2.5% during the fourth quarter. Oliver Luxxe Assets LLC now owns 132,498 shares of the mining company’s stock worth $1,073,000 after purchasing an additional 3,282 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Stock Down 11.5 %

Shares of HBM opened at $6.30 on Monday. Hudbay Minerals Inc. has a 52-week low of $6.04 and a 52-week 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 fifty day simple moving average of $7.94 and a two-hundred day simple moving average of $8.54. The company has a market capitalization of $2.49 billion, a PE ratio of 34.97 and a beta of 1.62.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released 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). The firm had revenue of $584.90 million for the quarter, compared to analyst estimates of $588.28 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. Hudbay Minerals’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 earnings per share. As a group, equities analysts forecast that Hudbay Minerals Inc. will post 0.79 EPS for the current year.

Hudbay Minerals Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 4th were given a $0.007 dividend. This represents a yield of 0.2%. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. The ex-dividend date was Tuesday, March 4th. Hudbay Minerals’s dividend payout ratio is presently 5.56%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HBM shares. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Desjardins assumed coverage on shares of Hudbay Minerals in a research note on Friday. They set a “buy” rating for the company. Finally, Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a report on Wednesday, March 19th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Hudbay Minerals currently has an average rating of “Buy” and a consensus target price of $11.50.

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.