Todd Asset Management LLC Acquires 94,200 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Todd Asset Management LLC raised its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 31.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 395,700 shares of the mining company’s stock after purchasing an additional 94,200 shares during the quarter. Todd Asset Management LLC owned 0.10% of Hudbay Minerals worth $3,205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Mountaineer Partners Management LLC lifted its position in shares of Hudbay Minerals by 792.5% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock worth $94,874,000 after buying an additional 9,166,952 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of 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 worth $71,308,000 after acquiring an additional 1,441,991 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of Hudbay Minerals by 106.8% in the 3rd quarter. Verition Fund Management LLC now owns 2,585,032 shares of the mining company’s stock valued at $23,756,000 after purchasing an additional 1,334,969 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of Hudbay Minerals by 31.9% during the 3rd quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company’s stock valued at $34,451,000 after purchasing an additional 906,417 shares during the last quarter. Finally, Meritage Portfolio Management acquired a new position in Hudbay Minerals during the 3rd quarter worth approximately $6,743,000. Institutional investors own 57.82% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Stock Performance

NYSE:HBM opened at $7.11 on Wednesday. The stock’s 50-day moving average is $8.45 and its 200-day moving average is $8.55. Hudbay Minerals Inc. has a 1-year low of $5.45 and a 1-year high of $10.49. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The stock has a market cap of $2.81 billion, a P/E ratio of 39.47 and a beta of 1.74.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced 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 business had revenue of $584.90 million during the quarter, compared to analyst estimates of $588.28 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 earnings per share. Equities research analysts anticipate that Hudbay Minerals Inc. will post 0.79 earnings per share for the current year.

Hudbay Minerals Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, March 21st. Investors of record on Tuesday, March 4th will be given a dividend of $0.007 per share. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. This represents a yield of 0.2%. The ex-dividend date is Tuesday, March 4th. Hudbay Minerals’s dividend payout ratio (DPR) is currently 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.