Van ECK Associates Corp Increases Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Van ECK Associates Corp lifted its position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 35.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 307,103 shares of the mining company’s stock after purchasing an additional 80,340 shares during the period. Van ECK Associates Corp’s holdings in Hudbay Minerals were worth $1,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of HBM. Donald Smith & CO. Inc. lifted its holdings in Hudbay Minerals by 475.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 4,602,687 shares of the mining company’s stock valued at $25,407,000 after acquiring an additional 3,802,687 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Hudbay Minerals in the fourth quarter worth approximately $14,618,000. Invesco Ltd. grew its position in Hudbay Minerals by 60.2% during the third quarter. Invesco Ltd. now owns 6,998,581 shares of the mining company’s stock valued at $34,083,000 after buying an additional 2,630,780 shares during the period. L1 Capital Pty Ltd increased its holdings 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 last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Hudbay Minerals by 28.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock worth $51,836,000 after acquiring an additional 2,085,641 shares during the period. Institutional investors own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

HBM has been the subject of several analyst reports. Jefferies Financial Group began coverage on Hudbay Minerals in a research note on Friday, May 3rd. They issued a “hold” rating and a $13.00 price objective for the company. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. Bank of America raised Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a research report on Tuesday, April 9th. Stifel Nicolaus started coverage on shares of Hudbay Minerals in a report on Tuesday, March 26th. They issued a “buy” rating for the company. Finally, Raymond James lifted their price target 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. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Hudbay Minerals currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.21.

Hudbay Minerals Stock Down 0.4 %

Shares of HBM opened at $8.45 on Thursday. The business’s 50 day simple moving average is $7.32 and its 200-day simple moving average is $5.85. Hudbay Minerals Inc. has a 1 year low of $3.94 and a 1 year high of $8.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.87. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 42.23, a price-to-earnings-growth ratio of 0.91 and a beta of 1.88.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results 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. The company had revenue of $602.20 million for the quarter, compared to the consensus estimate of $552.74 million. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. Hudbay Minerals’s revenue was up 87.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.01 earnings per share. As a group, equities analysts expect that Hudbay Minerals Inc. will post 0.4 earnings per share for the current fiscal year.

Hudbay Minerals Cuts Dividend

The business also recently disclosed 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 currently 5.00%.

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.