GMT Capital Corp trimmed its position in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,439,920 shares of the mining company's stock after selling 3,584,200 shares during the quarter. Hudbay Minerals makes up 13.2% of GMT Capital Corp's investment portfolio, making the stock its 2nd largest position. GMT Capital Corp owned approximately 8.47% of Hudbay Minerals worth $271,109,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC lifted its holdings in Hudbay Minerals by 9,877.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock worth $25,000 after buying an additional 3,062 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in Hudbay Minerals during the fourth quarter worth approximately $95,000. Hsbc Holdings PLC acquired a new position in Hudbay Minerals in the fourth quarter valued at approximately $97,000. Advisory Services Network LLC purchased a new position in Hudbay Minerals in the fourth quarter valued at approximately $101,000. Finally, Smith Moore & CO. raised its holdings in Hudbay Minerals by 28.4% during the fourth quarter. Smith Moore & CO. now owns 13,716 shares of the mining company's stock worth $111,000 after purchasing an additional 3,032 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.
Hudbay Minerals Stock Up 2.4 %
HBM stock opened at $7.10 on Wednesday. Hudbay Minerals Inc. has a 12 month low of $5.95 and a 12 month high of $10.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 39.42 and a beta of 1.62. The company has a fifty day moving average price of $7.40 and a 200 day moving average price of $8.34.
Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $584.90 million for the quarter, compared to analyst estimates of $588.28 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. Hudbay Minerals's quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company posted $0.20 EPS. Sell-side analysts expect 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 was paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th were paid a $0.007 dividend. This is an increase from Hudbay Minerals's previous semi-annual dividend of $0.01. This represents a dividend yield of 0.2%. The ex-dividend date was Tuesday, March 4th. Hudbay Minerals's dividend payout ratio (DPR) is 5.56%.
Analysts Set New Price Targets
HBM has been the subject of several research analyst reports. Desjardins assumed coverage on shares of Hudbay Minerals in a report on Friday, April 4th. They issued a "buy" rating for the company. Stifel Canada raised Hudbay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. BMO Capital Markets assumed coverage on Hudbay Minerals in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. Finally, StockNews.com raised Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $14.00.
Read Our Latest Report on Hudbay Minerals
Hudbay Minerals Profile
(
Free Report)
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.
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