Connor Clark & Lunn Investment Management Ltd. Has $63.20 Million Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,800,892 shares of the mining company's stock after buying an additional 44,237 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 1.98% of Hudbay Minerals worth $63,196,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC bought a new position in shares of Hudbay Minerals in the third quarter worth about $28,000. Plato Investment Management Ltd acquired a new stake in shares of Hudbay Minerals in the fourth quarter valued at approximately $95,000. First Affirmative Financial Network raised its position in Hudbay Minerals by 39.2% in the 4th 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 last quarter. Sanctuary Advisors LLC bought a new position in Hudbay Minerals in the 3rd quarter worth approximately $178,000. Finally, Ballentine Partners LLC lifted its holdings in Hudbay Minerals by 32.1% during the 4th quarter. Ballentine Partners LLC now owns 20,820 shares of the mining company's stock worth $169,000 after buying an additional 5,064 shares in the last quarter. Institutional investors own 57.82% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $11.17.

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Hudbay Minerals Trading Up 4.5 %

HBM stock traded up $0.34 during midday trading on Friday, reaching $7.73. The company's stock had a trading volume of 9,301,356 shares, compared to its average volume of 3,919,660. The business's 50-day simple moving average is $8.18 and its 200-day simple moving average is $8.48. 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 $6.42 and a 52 week high of $10.49. The stock has a market cap of $3.05 billion, a PE ratio of 42.92 and a beta of 1.72.

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

Hudbay Minerals Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th will be paid a $0.007 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This is a boost from Hudbay Minerals's previous semi-annual dividend of $0.01. This represents a dividend yield of 0.2%. Hudbay Minerals's dividend 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.