CastleKnight Management LP Buys 172,100 Shares of Hudbay Minerals Inc. (NYSE:HBM)

CastleKnight Management LP raised its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 12.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,561,700 shares of the mining company’s stock after acquiring an additional 172,100 shares during the period. Hudbay Minerals makes up approximately 0.4% of CastleKnight Management LP’s holdings, making the stock its 26th biggest holding. CastleKnight Management LP owned approximately 0.40% of Hudbay Minerals worth $12,659,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HBM. Vanguard Group Inc. raised its position in shares of Hudbay Minerals by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 15,267,805 shares of the mining company’s stock valued at $123,852,000 after buying an additional 255,191 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Hudbay Minerals by 2.7% during the 4th quarter. Invesco Ltd. now owns 11,815,849 shares of the mining company’s stock worth $95,708,000 after purchasing an additional 314,619 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Hudbay Minerals by 86.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company’s stock valued at $74,105,000 after purchasing an additional 4,253,400 shares during the period. Bank of Montreal Can lifted its holdings in Hudbay Minerals by 4.9% in the fourth quarter. Bank of Montreal Can now owns 8,065,777 shares of the mining company’s stock worth $65,342,000 after acquiring an additional 374,258 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Hudbay Minerals by 0.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,800,892 shares of the mining company’s stock worth $63,196,000 after purchasing an additional 44,237 shares in the last quarter. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Stock Performance

Shares of HBM stock opened at $7.41 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. Hudbay Minerals Inc. has a one year low of $5.95 and a one year high of $10.49. The stock has a market cap of $2.93 billion, a P/E ratio of 41.17 and a beta of 1.62. The company has a fifty day moving average price of $7.30 and a two-hundred day moving average price of $8.22.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its 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 business had revenue of $584.90 million during the quarter, compared to the consensus estimate of $588.28 million. During the same period in the prior year, the company earned $0.20 earnings per share. The business’s revenue was down 2.9% on a year-over-year basis. As a group, equities analysts predict that Hudbay Minerals Inc. will post 0.79 EPS for the current year.

Hudbay Minerals Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th were paid 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 was Tuesday, March 4th. Hudbay Minerals’s payout ratio is presently 5.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research note on Wednesday, March 19th. BMO Capital Markets began coverage on Hudbay Minerals in a research note on Wednesday, April 16th. They issued an “outperform” rating for the company. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Desjardins began coverage on shares of Hudbay Minerals in a report on Friday, April 4th. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $14.00.

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.