Old West Investment Management LLC Cuts Stake in Hudbay Minerals Inc. (NYSE:HBM)

Old West Investment Management LLC cut its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 33.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,000 shares of the mining company’s stock after selling 75,000 shares during the period. Old West Investment Management LLC’s holdings in Hudbay Minerals were worth $1,215,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Plato Investment Management Ltd bought a new stake in shares of Hudbay Minerals in the 4th quarter valued at about $95,000. Smith Moore & CO. lifted its position in Hudbay Minerals by 28.4% in the fourth 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. First Affirmative Financial Network grew its holdings in shares of Hudbay Minerals by 39.2% in the fourth quarter. First Affirmative Financial Network now owns 15,563 shares of the mining company’s stock worth $126,000 after purchasing an additional 4,386 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Hudbay Minerals in the fourth quarter worth $133,000. Finally, Sanctuary Advisors LLC bought a new stake in Hudbay Minerals during the 3rd quarter valued at $178,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Hudbay Minerals Price Performance

HBM stock opened at $6.30 on Friday. Hudbay Minerals Inc. has a 1 year low of $6.04 and a 1 year high of $10.49. The firm has a 50-day moving average of $7.94 and a 200 day moving average of $8.52. 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 company has a market cap of $2.49 billion, a P/E ratio of 34.97 and a beta of 1.72.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data 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 last year, the company posted $0.20 EPS. Hudbay Minerals’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that Hudbay Minerals Inc. will post 0.79 EPS for the current year.

Hudbay Minerals Increases Dividend

The firm also recently announced 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 an increase from Hudbay Minerals’s previous semi-annual dividend of $0.01. The ex-dividend date was Tuesday, March 4th. This represents a dividend yield of 0.2%. Hudbay Minerals’s dividend payout ratio (DPR) is currently 5.56%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. Desjardins assumed coverage on Hudbay Minerals in a research report on Friday. They set a “buy” rating for the company. 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 given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average 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.