Hudbay Minerals Inc. (NYSE:HBM) Holdings Lifted by Alliancebernstein L.P.

Alliancebernstein L.P. increased its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,730 shares of the mining company’s stock after acquiring an additional 2,740 shares during the period. Alliancebernstein L.P.’s holdings in Hudbay Minerals were worth $589,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Barclays PLC boosted its holdings in shares of Hudbay Minerals by 2,414.5% during the third quarter. Barclays PLC now owns 86,475 shares of the mining company’s stock worth $795,000 after purchasing an additional 83,036 shares during the period. Artemis Investment Management LLP boosted its stake in shares of Hudbay Minerals by 13.3% during the 4th quarter. Artemis Investment Management LLP now owns 2,574,709 shares of the mining company’s stock valued at $20,858,000 after buying an additional 301,455 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Hudbay Minerals during the 4th quarter valued at $183,000. HighTower Advisors LLC acquired a new position in shares of Hudbay Minerals in the third quarter worth $413,000. Finally, Tidal Investments LLC purchased a new stake in shares of Hudbay Minerals during the third quarter worth $886,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on HBM shares. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. Desjardins assumed coverage on Hudbay Minerals in a research note on Friday, April 4th. They issued a “buy” rating for the company. BMO Capital Markets started coverage on shares of Hudbay Minerals in a research report on Wednesday. They set an “outperform” rating on the stock. Finally, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $14.00.

Hudbay Minerals Stock Performance

Shares of NYSE HBM opened at $7.04 on Friday. The business’s 50-day simple moving average is $7.48 and its 200-day simple moving average is $8.37. Hudbay Minerals Inc. has a 52 week low of $5.95 and a 52 week high of $10.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 39.12 and a beta of 1.62.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $584.90 million during the quarter, compared to the consensus estimate 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 for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 EPS. As a group, equities research analysts expect that Hudbay Minerals Inc. will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th were given a dividend of $0.007 per share. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a yield of 0.2%. Hudbay Minerals’s payout ratio is currently 5.56%.

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.