Magnetar Financial LLC Takes Position in Hudbay Minerals Inc. (NYSE:HBM)

Magnetar Financial LLC purchased a new position in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 58,849 shares of the mining company's stock, valued at approximately $477,000.

Other institutional investors have also added to or reduced their stakes in the company. Northwest & Ethical Investments L.P. raised its stake in Hudbay Minerals by 0.8% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 197,289 shares of the mining company's stock worth $1,815,000 after acquiring an additional 1,487 shares during the period. Sprott Inc. grew its holdings in Hudbay Minerals by 3.5% during the 4th quarter. Sprott Inc. now owns 63,662 shares of the mining company's stock valued at $516,000 after buying an additional 2,162 shares in the last quarter. FMR LLC increased its holdings in Hudbay Minerals by 0.7% in the 3rd quarter. FMR LLC now owns 354,392 shares of the mining company's stock valued at $3,260,000 after acquiring an additional 2,624 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Hudbay Minerals in the 3rd quarter valued at $28,000. Finally, Oliver Luxxe Assets LLC lifted its position in shares of Hudbay Minerals by 2.5% in the fourth quarter. Oliver Luxxe Assets LLC now owns 132,498 shares of the mining company's stock worth $1,073,000 after buying an additional 3,282 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors.

Hudbay Minerals Trading Down 0.8 %

Shares of NYSE HBM traded down $0.06 during trading hours on Thursday, reaching $7.99. The stock had a trading volume of 6,720,997 shares, compared to its average volume of 4,064,013. The business's fifty day moving average price is $8.10 and its two-hundred day moving average price is $8.52. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 44.39 and a beta of 1.72. Hudbay Minerals Inc. has a 52-week low of $6.42 and a 52-week 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.

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Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its quarterly earnings data 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 firm had revenue of $584.90 million during the quarter, compared to the consensus estimate of $588.28 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The business's revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 earnings per share. Analysts expect that Hudbay Minerals Inc. will post 0.79 EPS for the current fiscal year.

Hudbay Minerals Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th were given a $0.007 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a dividend yield of 0.2%. This is an increase from Hudbay Minerals's previous semi-annual dividend of $0.01. Hudbay Minerals's payout ratio is presently 5.56%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HBM. Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $11.50.

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.