174,929 Shares in Hudbay Minerals Inc. (NYSE:HBM) Bought by Clearbridge Investments LLC

Clearbridge Investments LLC acquired a new stake in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 174,929 shares of the mining company's stock, valued at approximately $1,417,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Hudbay Minerals by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 15,267,805 shares of the mining company's stock valued at $123,852,000 after buying an additional 255,191 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Hudbay Minerals by 0.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,800,892 shares of the mining company's stock valued at $63,196,000 after purchasing an additional 44,237 shares during the last quarter. Norges Bank bought a new position in shares of Hudbay Minerals during the fourth quarter worth approximately $50,260,000. American Century Companies Inc. lifted its holdings in Hudbay Minerals by 102.4% during the 4th quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company's stock worth $34,684,000 after purchasing an additional 2,163,000 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Hudbay Minerals by 111.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,777,571 shares of the mining company's stock valued at $30,602,000 after purchasing an additional 1,994,431 shares during the period. 57.82% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research firms have weighed in on HBM. Stifel Canada upgraded Hudbay Minerals to a "strong-buy" rating in a research report on Wednesday, March 19th. StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Finally, Desjardins started coverage on shares of Hudbay Minerals in a report on Friday. They issued a "buy" rating for the company. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $11.50.

Hudbay Minerals Price Performance

HBM traded up $0.12 during trading on Tuesday, hitting $6.45. 3,409,457 shares of the stock traded hands, compared to its average volume of 6,976,205. The business has a 50 day moving average price of $7.90 and a 200 day moving average price of $8.53. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 35.81 and a beta of 1.62. Hudbay Minerals Inc. has a twelve month low of $5.95 and a twelve month high of $10.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The business had revenue of $584.90 million for the quarter, compared to the consensus estimate of $588.28 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. Hudbay Minerals's quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts forecast 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 issued a dividend of $0.007 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change 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 5.56%.

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.