Northwest & Ethical Investments L.P. Increases Stock Position in Hudbay Minerals Inc. (NYSE:HBM)

Northwest & Ethical Investments L.P. boosted its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 201,152 shares of the mining company’s stock after acquiring an additional 3,863 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Hudbay Minerals were worth $1,629,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HBM. Prospera Private Wealth LLC purchased a new stake in Hudbay Minerals in the third quarter valued at $28,000. Jennison Associates LLC lifted its position in Hudbay Minerals by 12.2% in the third 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 during the last quarter. Bank of Montreal Can lifted its position in Hudbay Minerals by 23.1% in the third quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock valued at $71,308,000 after acquiring an additional 1,441,991 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Hudbay Minerals by 9.5% in the third quarter. The Manufacturers Life Insurance Company now owns 1,346,659 shares of the mining company’s stock valued at $12,395,000 after buying an additional 117,275 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Hudbay Minerals by 0.7% in the third quarter. FMR LLC now owns 354,392 shares of the mining company’s stock valued at $3,260,000 after buying an additional 2,624 shares during the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Trading Down 2.1 %

NYSE HBM opened at $8.15 on Friday. The stock has a market capitalization of $3.22 billion, a P/E ratio of 45.25 and a beta of 1.72. Hudbay Minerals Inc. has a 52-week low of $6.42 and a 52-week high of $10.49. The firm has a 50-day moving average price of $8.13 and a 200 day moving average price of $8.49. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results 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 analysts’ expectations of $588.28 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 earnings per share. Equities research analysts expect that Hudbay Minerals Inc. will post 0.79 EPS 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. This is a boost from Hudbay Minerals’s previous semi-annual dividend of $0.01. This represents a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 4th. Hudbay Minerals’s dividend payout ratio is currently 5.56%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Hudbay Minerals has an average rating of “Buy” and a consensus price target of $11.50.

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.