Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in Hudbay Minerals Inc. (NYSE:HBM)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,641 shares of the mining company’s stock after purchasing an additional 4,655 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hudbay Minerals were worth $396,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Hudbay Minerals by 28.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock valued at $51,836,000 after buying an additional 2,085,641 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Hudbay Minerals during the 3rd quarter valued at $610,000. Cumberland Partners Ltd grew its holdings in Hudbay Minerals by 31.3% during the 3rd quarter. Cumberland Partners Ltd now owns 685,100 shares of the mining company’s stock valued at $3,348,000 after purchasing an additional 163,500 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Hudbay Minerals by 19.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 748,020 shares of the mining company’s stock worth $3,657,000 after buying an additional 122,540 shares during the period. Finally, Jennison Associates LLC lifted its holdings in Hudbay Minerals by 18.5% in the 3rd quarter. Jennison Associates LLC now owns 1,324,367 shares of the mining company’s stock worth $6,451,000 after buying an additional 206,601 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Hudbay Minerals in a research note on Friday. They set a “hold” rating and a $13.00 target price for the company. Raymond James raised their price objective on Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Stifel Nicolaus initiated coverage on Hudbay Minerals in a research report on Tuesday, March 26th. They issued a “buy” rating on the stock. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. Finally, Bank of America upgraded shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price target for the company in a research note on Tuesday, April 9th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.21.

Hudbay Minerals Stock Performance

HBM stock opened at $8.36 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. Hudbay Minerals Inc. has a 12-month low of $3.94 and a 12-month high of $8.85. The stock’s 50 day simple moving average is $7.10 and its 200 day simple moving average is $5.73. The firm has a market cap of $2.93 billion, a P/E ratio of 41.65, a P/E/G ratio of 0.90 and a beta of 1.88.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The business had revenue of $602.20 million during the quarter, compared to analyst estimates of $552.74 million. During the same quarter in the previous year, the firm posted $0.01 EPS. The business’s revenue for the quarter was up 87.5% compared to the same quarter last year. As a group, equities research analysts predict that Hudbay Minerals Inc. will post 0.4 EPS for the current year.

Hudbay Minerals Cuts Dividend

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