1492 Capital Management LLC Acquires 8,230 Shares of Hudbay Minerals Inc. (NYSE:HBM)

1492 Capital Management LLC boosted its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 49.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,809 shares of the mining company’s stock after acquiring an additional 8,230 shares during the quarter. 1492 Capital Management LLC’s holdings in Hudbay Minerals were worth $201,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Plato Investment Management Ltd acquired a new position in shares of Hudbay Minerals during the fourth quarter worth $95,000. Advisory Services Network LLC acquired a new position in Hudbay Minerals during the 4th quarter worth about $101,000. Smith Moore & CO. grew its position in shares of Hudbay Minerals by 28.4% in the 4th quarter. Smith Moore & CO. now owns 13,716 shares of the mining company’s stock valued at $111,000 after buying an additional 3,032 shares during the last quarter. Stonehaven Wealth & Tax Solutions LLC bought a new stake in Hudbay Minerals in the fourth quarter valued at approximately $121,000. Finally, First Affirmative Financial Network boosted its stake in shares of Hudbay Minerals by 39.2% in the 4th quarter. First Affirmative Financial Network now owns 15,563 shares of the mining company’s stock valued at $126,000 after purchasing an additional 4,386 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Trading Down 0.3 %

NYSE:HBM opened at $7.04 on Friday. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 39.12 and a beta of 1.62. The firm has a fifty day simple moving average of $7.52 and a two-hundred day simple moving average of $8.39. 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 Inc. has a 12 month low of $5.95 and a 12 month high of $10.49.

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). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The firm had revenue of $584.90 million during the quarter, compared to the consensus estimate of $588.28 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. Hudbay Minerals’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts expect that Hudbay Minerals Inc. will post 0.79 EPS for the current fiscal year.

Hudbay Minerals Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Stockholders 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 dividend yield of 0.2%. The ex-dividend date was Tuesday, March 4th. Hudbay Minerals’s dividend payout ratio (DPR) is currently 5.56%.

Analyst Ratings Changes

A number of brokerages recently weighed in on HBM. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. BMO Capital Markets assumed coverage on Hudbay Minerals in a research report on Wednesday. They set an “outperform” rating on the stock. Finally, Desjardins assumed coverage on Hudbay Minerals in a report on Friday, April 4th. They issued a “buy” rating for the company. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $14.00.

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.