Hudbay Minerals Inc. (NYSE:HBM) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,641 shares of the mining company’s stock after buying an additional 4,655 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hudbay Minerals were worth $396,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Nova Scotia boosted its position in shares of Hudbay Minerals by 19.1% during the 3rd quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock valued at $121,000 after acquiring an additional 3,979 shares during the last quarter. Shell Asset Management Co. boosted its holdings in Hudbay Minerals by 38.6% in the 3rd quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company’s stock valued at $128,000 after purchasing an additional 7,300 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Hudbay Minerals in the 3rd quarter valued at approximately $195,000. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Hudbay Minerals by 18.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 55,519 shares of the mining company’s stock worth $270,000 after buying an additional 8,563 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Hudbay Minerals by 7.1% during the 3rd quarter. Barclays PLC now owns 63,154 shares of the mining company’s stock valued at $308,000 after buying an additional 4,169 shares during the period. Institutional investors and hedge funds own 57.82% of the company’s stock.

Hudbay Minerals Price Performance

Hudbay Minerals stock opened at $8.36 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. Hudbay Minerals Inc. has a 52-week low of $3.94 and a 52-week high of $8.85. The firm has a market cap of $2.93 billion, a PE ratio of 41.65, a price-to-earnings-growth ratio of 0.90 and a beta of 1.88. The company’s 50 day moving average is $7.10 and its two-hundred day moving average is $5.73.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The firm had revenue of $602.20 million during the quarter, compared to analyst estimates of $552.74 million. During the same period last year, the business posted $0.01 earnings per share. Hudbay Minerals’s revenue was up 87.5% compared to the same quarter last year. On average, research analysts expect that Hudbay Minerals Inc. will post 0.4 EPS for the current fiscal year.

Hudbay Minerals Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 5th were paid a dividend of $0.0074 per share. The ex-dividend date was Monday, March 4th. This represents a dividend yield of 0.3%. Hudbay Minerals’s payout ratio is 5.00%.

Analyst Ratings Changes

Several brokerages recently weighed in on HBM. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. Stifel Nicolaus started coverage on Hudbay Minerals in a research report on Tuesday, March 26th. They set a “buy” rating for the company. Raymond James upped their target price on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Bank of America upgraded shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price target for the company in a research report on Tuesday, April 9th. Finally, Jefferies Financial Group initiated coverage on shares of Hudbay Minerals in a report on Friday. They issued a “hold” rating and a $13.00 price objective on the stock. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Hudbay Minerals currently has a consensus rating of “Moderate Buy” and an average target price of $10.21.

Hudbay Minerals 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.