Hudbay Minerals Inc. (NYSE:HBM) Shares Sold by Old West Investment Management LLC

Old West Investment Management LLC cut its position in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 33.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,000 shares of the mining company's stock after selling 75,000 shares during the quarter. Old West Investment Management LLC's holdings in Hudbay Minerals were worth $1,215,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of HBM. Smith Moore & CO. raised its holdings in Hudbay Minerals by 28.4% in the fourth quarter. Smith Moore & CO. now owns 13,716 shares of the mining company's stock valued at $111,000 after buying an additional 3,032 shares during the period. Donald Smith & CO. Inc. lifted its holdings in shares of Hudbay Minerals by 12.7% during the 4th quarter. Donald Smith & CO. Inc. now owns 4,225,627 shares of the mining company's stock valued at $34,228,000 after acquiring an additional 476,847 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in Hudbay Minerals in the 4th quarter valued at $251,000. Trexquant Investment LP acquired a new stake in Hudbay Minerals in the 4th quarter valued at $1,725,000. Finally, Geode Capital Management LLC raised its position in Hudbay Minerals by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 190,940 shares of the mining company's stock valued at $1,565,000 after purchasing an additional 6,973 shares during the period. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

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Hudbay Minerals Stock Performance

Shares of NYSE:HBM traded down $0.28 during trading hours on Thursday, hitting $6.68. The stock had a trading volume of 7,214,039 shares, compared to its average volume of 4,549,910. 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's fifty day simple moving average is $7.76 and its 200 day simple moving average is $8.48. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 36.75 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.

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 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 firm's revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 EPS. Sell-side analysts anticipate that Hudbay Minerals Inc. will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on HBM shares. Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. Desjardins initiated coverage on Hudbay Minerals in a research report on Friday, April 4th. They set a "buy" rating on the stock. Finally, StockNews.com raised Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Hudbay Minerals currently has an average rating of "Buy" and an average price target of $14.00.

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.