Intact Investment Management Inc. Sells 181,600 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Intact Investment Management Inc. cut its stake in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 50.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,000 shares of the mining company's stock after selling 181,600 shares during the period. Intact Investment Management Inc.'s holdings in Hudbay Minerals were worth $1,419,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Cinctive Capital Management LP increased its position in shares of Hudbay Minerals by 39.7% during the 3rd quarter. Cinctive Capital Management LP now owns 410,669 shares of the mining company's stock valued at $3,777,000 after purchasing an additional 116,732 shares during the last quarter. Bank of Montreal Can increased its position in shares of Hudbay Minerals by 23.1% during the 3rd quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company's stock valued at $71,308,000 after purchasing an additional 1,441,991 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Hudbay Minerals by 300.9% during the 3rd quarter. Toronto Dominion Bank now owns 226,841 shares of the mining company's stock valued at $2,085,000 after purchasing an additional 170,257 shares during the last quarter. Mountaineer Partners Management LLC increased 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 valued at $94,874,000 after purchasing an additional 9,166,952 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Hudbay Minerals by 9.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,346,659 shares of the mining company's stock valued at $12,395,000 after purchasing an additional 117,275 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

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

Hudbay Minerals Stock Performance

HBM traded up $0.41 during trading hours on Monday, hitting $8.14. The stock had a trading volume of 5,523,898 shares, compared to its average volume of 3,927,241. The company's fifty day simple moving average is $8.18 and its 200 day simple moving average is $8.49. Hudbay Minerals Inc. has a 1 year low of $6.42 and a 1 year high of $10.49. The stock has a market cap of $3.21 billion, a PE ratio of 45.20 and a beta of 1.72. 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 (NYSE:HBM - Get Free Report) TSE: HBM last posted its earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). The company had revenue of $584.90 million for the quarter, compared to analysts' expectations of $588.28 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The firm's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 EPS. Equities analysts anticipate that Hudbay Minerals Inc. will post 0.79 earnings per share for the current year.

Hudbay Minerals Increases Dividend

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