Raymond James Financial Services Advisors Inc. Sells 2,295 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Raymond James Financial Services Advisors Inc. lowered its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 10.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 19,841 shares of the mining company’s stock after selling 2,295 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Hudbay Minerals were worth $110,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board grew its position in Hudbay Minerals by 19.6% during the third quarter. Public Sector Pension Investment Board now owns 748,020 shares of the mining company’s stock valued at $3,657,000 after buying an additional 122,540 shares during the period. L1 Capital Pty Ltd grew its position in Hudbay Minerals by 15.1% during the third quarter. L1 Capital Pty Ltd now owns 16,299,356 shares of the mining company’s stock valued at $79,378,000 after buying an additional 2,141,437 shares during the period. Alberta Investment Management Corp lifted its holdings in Hudbay Minerals by 114.8% during the third quarter. Alberta Investment Management Corp now owns 328,600 shares of the mining company’s stock valued at $1,607,000 after purchasing an additional 175,600 shares during the last quarter. MBB Public Markets I LLC lifted its holdings in Hudbay Minerals by 15.4% during the third quarter. MBB Public Markets I LLC now owns 334,588 shares of the mining company’s stock valued at $1,629,000 after purchasing an additional 44,619 shares during the last quarter. Finally, Bank of Nova Scotia lifted its holdings in Hudbay Minerals by 19.1% during the third quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock valued at $121,000 after purchasing an additional 3,979 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on HBM shares. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, March 29th. Bank of America raised shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Tuesday, April 9th. Raymond James upped their price objective on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Finally, Stifel Nicolaus started coverage on shares of Hudbay Minerals in a report on Tuesday, March 26th. They set a “buy” rating on the stock. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $9.75.

Hudbay Minerals Trading Up 5.0 %

Shares of Hudbay Minerals stock opened at $8.13 on Friday. Hudbay Minerals Inc. has a 12-month low of $3.94 and a 12-month high of $8.18. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 0.79 and a beta of 1.95. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $6.79 and its 200-day moving average price is $5.60.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The firm had revenue of $602.20 million for the quarter, compared to the consensus estimate of $552.74 million. During the same period in the prior year, the firm posted $0.01 earnings per share. The company’s revenue for the quarter was up 87.5% on a year-over-year basis. On average, equities analysts expect that Hudbay Minerals Inc. will post 0.42 earnings per share for the current fiscal year.

Hudbay Minerals Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 5th were paid a $0.0074 dividend. This represents a yield of 0.3%. The ex-dividend date was Monday, March 4th. Hudbay Minerals’s dividend payout ratio is currently 5.00%.

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.