Bank of America Corp DE Has $19.52 Million Stock Position in Hudbay Minerals Inc. (NYSE:HBM)

Bank of America Corp DE boosted its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 269.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,409,267 shares of the mining company’s stock after purchasing an additional 1,756,930 shares during the quarter. Bank of America Corp DE owned 0.61% of Hudbay Minerals worth $19,515,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of HBM. Tower Research Capital LLC TRC grew its position in Hudbay Minerals by 9,877.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock worth $25,000 after buying an additional 3,062 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Hudbay Minerals during the 4th quarter worth approximately $86,000. Plato Investment Management Ltd acquired a new stake in shares of Hudbay Minerals during the 4th quarter worth approximately $95,000. Hsbc Holdings PLC acquired a new stake in shares of Hudbay Minerals during the 4th quarter worth approximately $97,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Hudbay Minerals during the 4th quarter worth approximately $101,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Price Performance

Shares of HBM stock opened at $8.26 on Tuesday. The stock’s fifty day simple moving average is $7.51 and its 200 day simple moving average is $8.13. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 45.89 and a beta of 1.56. Hudbay Minerals Inc. has a one year low of $5.95 and a one year high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.10 by $0.14. The business had revenue of $594.90 million for the quarter, compared to analyst estimates of $537.36 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. Hudbay Minerals’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 EPS. On average, analysts expect that Hudbay Minerals Inc. will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 4th were paid a $0.007 dividend. 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 2.63%.

Analyst Ratings Changes

Several analysts have recently weighed in on HBM shares. Desjardins started coverage on Hudbay Minerals in a report on Friday, April 4th. They set a “buy” rating on the stock. BMO Capital Markets started coverage on Hudbay Minerals in a report on Wednesday, April 16th. They set an “outperform” rating on the stock. StockNews.com raised Hudbay Minerals from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th. Scotiabank reissued an “outperform” rating on shares of Hudbay Minerals in a report on Tuesday, May 13th. Finally, Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $14.00.

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.