Hudbay Minerals Inc. (NYSE:HBM) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its holdings in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 111.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,777,571 shares of the mining company's stock after purchasing an additional 1,994,431 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.96% of Hudbay Minerals worth $30,602,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. FMR LLC lifted its position in Hudbay Minerals by 0.7% in the third quarter. FMR LLC now owns 354,392 shares of the mining company's stock valued at $3,260,000 after buying an additional 2,624 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Hudbay Minerals by 20.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,804 shares of the mining company's stock valued at $827,000 after acquiring an additional 15,258 shares during the period. HighTower Advisors LLC acquired a new position in shares of Hudbay Minerals in the 3rd quarter worth approximately $413,000. Mountaineer Partners Management LLC boosted its position in shares of Hudbay Minerals by 792.5% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company's stock worth $94,874,000 after purchasing an additional 9,166,952 shares during the period. Finally, Polar Asset Management Partners Inc. increased its holdings in Hudbay Minerals by 1,310.6% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 764,400 shares of the mining company's stock valued at $7,026,000 after purchasing an additional 710,212 shares during the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Desjardins started coverage on Hudbay Minerals in a research note on Friday. They set a "buy" rating on the stock. Stifel Canada raised Hudbay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, StockNews.com upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $11.50.

Hudbay Minerals Stock Up 1.0 %

HBM stock traded up $0.07 during midday trading on Monday, hitting $6.34. The company's stock had a trading volume of 9,445,518 shares, compared to its average volume of 4,472,246. The firm has a 50-day simple moving average of $7.90 and a 200-day simple moving average of $8.53. The firm has a market capitalization of $2.50 billion, a P/E ratio of 35.20 and a beta of 1.62. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. Hudbay Minerals Inc. has a 52-week low of $5.95 and a 52-week high of $10.49.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The company had revenue of $584.90 million during the quarter, compared to analysts' expectations of $588.28 million. During the same quarter last year, the business posted $0.20 earnings per share. The company's revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities analysts forecast that Hudbay Minerals Inc. will post 0.79 EPS 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 is an increase from Hudbay Minerals's previous semi-annual dividend of $0.01. This represents a dividend yield of 0.2%. Hudbay Minerals's payout ratio is currently 5.56%.

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.