Orion Resource Partners LP Takes $508,000 Position in Hudbay Minerals Inc. (NYSE:HBM)

Orion Resource Partners LP bought a new position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 62,724 shares of the mining company’s stock, valued at approximately $508,000. Hudbay Minerals accounts for about 0.1% of Orion Resource Partners LP’s holdings, making the stock its 7th largest position.

A number of other hedge funds also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its stake in shares of Hudbay Minerals by 9,877.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock worth $25,000 after acquiring an additional 3,062 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of Hudbay Minerals during the fourth quarter worth about $95,000. Hsbc Holdings PLC acquired a new stake in Hudbay Minerals in the fourth quarter valued at approximately $97,000. Advisory Services Network LLC acquired a new position in Hudbay Minerals during the 4th quarter worth approximately $101,000. Finally, Smith Moore & CO. increased 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 purchasing an additional 3,032 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HBM has been the subject of a number of analyst reports. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research note on Wednesday, March 19th. BMO Capital Markets initiated coverage on shares of Hudbay Minerals in a report on Wednesday, April 16th. They set an “outperform” rating on the stock. Desjardins began coverage on shares of Hudbay Minerals in a research note on Friday, April 4th. 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 report on Friday, February 7th. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $14.00.

Hudbay Minerals Stock Up 0.3 %

Shares of NYSE:HBM opened at $7.30 on Friday. Hudbay Minerals Inc. has a 1-year low of $5.95 and a 1-year high of $10.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The stock has a market cap of $2.88 billion, a P/E ratio of 40.53 and a beta of 1.62. The firm has a fifty day moving average price of $7.29 and a 200 day moving average price of $8.26.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued 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). 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 during the quarter, compared to analyst estimates of $588.28 million. During the same quarter last year, the firm earned $0.20 EPS. The business’s revenue was down 2.9% on a year-over-year basis. Sell-side analysts predict that Hudbay Minerals Inc. will post 0.79 EPS for the current year.

Hudbay Minerals Increases Dividend

The company 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 (DPR) is 5.56%.

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.