Cumberland Partners Ltd Sells 50,000 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Cumberland Partners Ltd lowered its position in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 12.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 364,700 shares of the mining company's stock after selling 50,000 shares during the quarter. Cumberland Partners Ltd owned approximately 0.09% of Hudbay Minerals worth $2,957,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its holdings in shares of Hudbay Minerals by 4.7% during the fourth quarter. CIBC Asset Management Inc now owns 505,598 shares of the mining company's stock worth $4,092,000 after buying an additional 22,559 shares in the last quarter. Sanctuary Advisors LLC grew its position in Hudbay Minerals by 25.3% during the 4th quarter. Sanctuary Advisors LLC now owns 24,503 shares of the mining company's stock worth $209,000 after acquiring an additional 4,946 shares during the last quarter. Savant Capital LLC acquired a new stake in Hudbay Minerals during the 4th quarter valued at $180,000. Sumitomo Mitsui Trust Group Inc. bought a new position in Hudbay Minerals in the 4th quarter valued at $335,000. Finally, Cibc World Market Inc. boosted its stake in Hudbay Minerals by 4.3% in the fourth quarter. Cibc World Market Inc. now owns 1,879,561 shares of the mining company's stock worth $15,240,000 after purchasing an additional 78,267 shares in the last quarter. 57.82% of the stock is owned by institutional investors.

Hudbay Minerals Price Performance

Shares of Hudbay Minerals stock traded down $0.53 during midday trading on Friday, reaching $7.08. The company had a trading volume of 6,448,490 shares, compared to its average volume of 6,433,895. The stock has a fifty day simple moving average of $8.53 and a 200 day simple moving average of $8.53. Hudbay Minerals Inc. has a 1-year low of $5.22 and a 1-year high of $10.49. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 39.32 and a beta of 1.74.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its earnings results 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 firm had revenue of $584.90 million during the quarter, compared to analyst estimates of $588.28 million. The firm's quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the business posted $0.20 earnings per share. As a group, equities research analysts forecast that Hudbay Minerals Inc. will post 0.79 earnings per share for the current year.

Hudbay Minerals Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.007 per share. The ex-dividend date is Tuesday, March 4th. This is an increase from Hudbay Minerals's previous semi-annual dividend of $0.01. This represents a yield of 0.2%. Hudbay Minerals's dividend payout ratio is presently 5.56%.

Wall Street Analyst Weigh In

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

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.