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

Smith Moore & CO. raised its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 28.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,716 shares of the mining company’s stock after purchasing an additional 3,032 shares during the period. Smith Moore & CO.’s holdings in Hudbay Minerals were worth $111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Hudbay Minerals Stock Performance

NYSE HBM opened at $6.30 on Monday. The firm has a market capitalization of $2.49 billion, a P/E ratio of 34.97 and a beta of 1.62. The stock has a 50-day simple moving average of $7.94 and a two-hundred day simple moving average of $8.54. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. Hudbay Minerals Inc. has a fifty-two week low of $6.04 and a fifty-two week high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The company had revenue of $584.90 million for the quarter, compared to analysts’ expectations of $588.28 million. During the same quarter in the prior year, the business posted $0.20 earnings per share. The firm’s revenue was down 2.9% compared to the same quarter last year. On average, equities analysts forecast that Hudbay Minerals Inc. will post 0.79 earnings per share for the current year.

Hudbay Minerals Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 4th were issued a dividend of $0.007 per share. The ex-dividend date was Tuesday, March 4th. This is an increase from Hudbay Minerals’s previous semi-annual dividend of $0.01. This represents a yield of 0.2%. Hudbay Minerals’s dividend payout ratio is 5.56%.

Analysts Set New Price Targets

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

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.