Barclays PLC Grows Stock Position in Hudbay Minerals Inc. (NYSE:HBM)

Barclays PLC lifted its position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,286 shares of the mining company’s stock after acquiring an additional 6,811 shares during the period. Barclays PLC’s holdings in Hudbay Minerals were worth $756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Plato Investment Management Ltd acquired a new stake in Hudbay Minerals in the 4th quarter valued at about $95,000. Advisory Services Network LLC purchased a new stake in shares of Hudbay Minerals in the fourth quarter valued at about $101,000. Smith Moore & CO. increased its position in Hudbay Minerals by 28.4% during the fourth quarter. Smith Moore & CO. now owns 13,716 shares of the mining company’s stock worth $111,000 after purchasing an additional 3,032 shares during the last quarter. First Affirmative Financial Network raised its stake in Hudbay Minerals by 39.2% during 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 period. Finally, Quantbot Technologies LP acquired a new position in Hudbay Minerals in the 4th quarter valued at about $133,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HBM. BMO Capital Markets initiated coverage on Hudbay Minerals in a research report on Wednesday, April 16th. They issued an “outperform” rating for the company. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Desjardins assumed coverage on shares of Hudbay Minerals in a research note on Friday, April 4th. They set a “buy” rating for the company. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Hudbay Minerals presently has a consensus rating of “Buy” and a consensus target price of $14.00.

Hudbay Minerals Price Performance

HBM opened at $7.70 on Wednesday. The stock’s 50-day moving average price is $7.31 and its 200 day moving average price is $8.21. Hudbay Minerals Inc. has a 12-month low of $5.95 and a 12-month high of $10.49. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 42.78 and a beta of 1.56. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The business had revenue of $584.90 million during the quarter, compared to analysts’ expectations of $588.28 million. During the same period in the previous year, the business posted $0.20 EPS. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that Hudbay Minerals Inc. will post 0.79 earnings per share for the current year.

Hudbay Minerals Increases Dividend

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