Hudbay Minerals Inc. (NYSE:HBM) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can increased its stake in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,065,777 shares of the mining company's stock after purchasing an additional 374,258 shares during the quarter. Bank of Montreal Can owned approximately 2.04% of Hudbay Minerals worth $65,342,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in HBM. Vanguard Group Inc. lifted its position in shares of Hudbay Minerals by 1.7% during the fourth 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. raised its stake in shares of Hudbay Minerals by 0.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,800,892 shares of the mining company's stock worth $63,196,000 after acquiring an additional 44,237 shares in the last quarter. Norges Bank purchased a new stake in Hudbay Minerals during the fourth quarter valued at approximately $50,260,000. American Century Companies Inc. boosted its stake in Hudbay Minerals by 102.4% in the fourth quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company's stock valued at $34,684,000 after acquiring an additional 2,163,000 shares in the last quarter. Finally, Donald Smith & CO. Inc. grew its holdings in Hudbay Minerals by 12.7% in the fourth quarter. Donald Smith & CO. Inc. now owns 4,225,627 shares of the mining company's stock worth $34,228,000 after purchasing an additional 476,847 shares during the last quarter. Institutional investors own 57.82% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Several analysts have recently commented on the company. Stifel Canada upgraded Hudbay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. Desjardins assumed coverage on Hudbay Minerals in a research note on Friday, April 4th. They set a "buy" rating on the stock. Finally, StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Hudbay Minerals presently has an average rating of "Buy" and a consensus target price of $14.00.

Hudbay Minerals Price Performance

Shares of HBM stock traded up $0.18 on Tuesday, reaching $7.09. 4,045,787 shares of the company were exchanged, compared to its average volume of 7,359,907. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 39.36 and a beta of 1.62. Hudbay Minerals Inc. has a 1 year low of $5.95 and a 1 year high of $10.49. The business has a 50-day moving average price of $7.65 and a 200 day moving average price of $8.43. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The firm had revenue of $584.90 million during the quarter, compared to analyst estimates of $588.28 million. During the same period in the prior year, the firm earned $0.20 earnings per share. The business's revenue was down 2.9% on a year-over-year basis. 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 announced a semi-annual dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th were issued a $0.007 dividend. This is a boost from Hudbay Minerals's previous semi-annual dividend of $0.01. This represents a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 4th. Hudbay Minerals's dividend payout ratio is presently 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.