Intact Investment Management Inc. Lowers Stake in Hudbay Minerals Inc. (NYSE:HBM)

Intact Investment Management Inc. cut its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 50.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 175,000 shares of the mining company's stock after selling 181,600 shares during the quarter. Intact Investment Management Inc.'s holdings in Hudbay Minerals were worth $1,419,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cinctive Capital Management LP boosted its holdings in Hudbay Minerals by 39.7% in 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 boosted its holdings in Hudbay Minerals by 23.1% in 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 boosted its holdings in Hudbay Minerals by 300.9% in 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 boosted its holdings in Hudbay Minerals by 792.5% in 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 boosted its holdings in Hudbay Minerals by 9.5% in 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 and hedge funds.

Remove Ads

Wall Street Analysts Forecast Growth

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

Hudbay Minerals Stock Up 4.5 %

Shares of NYSE:HBM traded up $0.34 during trading hours on Friday, reaching $7.73. The stock had a trading volume of 9,301,356 shares, compared to its average volume of 3,919,660. Hudbay Minerals Inc. has a 1 year low of $6.42 and a 1 year high of $10.49. The firm's 50 day moving average is $8.18 and its 200-day moving average is $8.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 42.92 and a beta of 1.72.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its earnings results on Wednesday, February 19th. The mining company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). The company had revenue of $584.90 million during 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 company's quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the business earned $0.20 earnings per share. Research analysts predict that Hudbay Minerals Inc. will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

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

Hudbay Minerals 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.