Russell Investments Group Ltd. Sells 100,521 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Russell Investments Group Ltd. trimmed its stake in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 15.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 553,418 shares of the mining company's stock after selling 100,521 shares during the quarter. Russell Investments Group Ltd. owned about 0.14% of Hudbay Minerals worth $4,487,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Hudbay Minerals by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 15,267,805 shares of the mining company's stock valued at $123,852,000 after acquiring an additional 255,191 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Hudbay Minerals by 0.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,800,892 shares of the mining company's stock valued at $63,196,000 after acquiring an additional 44,237 shares in the last quarter. Norges Bank purchased a new stake in shares of Hudbay Minerals in the fourth quarter worth approximately $50,260,000. American Century Companies Inc. grew its holdings in Hudbay Minerals by 102.4% during the fourth quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company's stock worth $34,684,000 after buying an additional 2,163,000 shares in the last quarter. Finally, Donald Smith & CO. Inc. raised its position in Hudbay Minerals by 12.7% in 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 buying an additional 476,847 shares during the last quarter. 57.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HBM. StockNews.com raised Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Stifel Canada upgraded Hudbay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. BMO Capital Markets initiated coverage on shares of Hudbay Minerals in a research report on Wednesday. They set an "outperform" rating for the company. Finally, Desjardins began coverage on shares of Hudbay Minerals in a report on Friday, April 4th. They set a "buy" rating for the company. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $14.00.

Hudbay Minerals Stock Performance

Hudbay Minerals stock traded down $0.02 during midday trading on Friday, reaching $7.04. The stock had a trading volume of 6,438,641 shares, compared to its average volume of 4,723,310. The firm has a market capitalization of $2.78 billion, a PE ratio of 39.12 and a beta of 1.62. Hudbay Minerals Inc. has a 12 month low of $5.95 and a 12 month high of $10.49. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The firm's 50-day moving average price is $7.48 and its 200 day moving average price is $8.38.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly 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). Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The business had revenue of $584.90 million for the quarter, compared to analysts' expectations of $588.28 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The business's quarterly revenue was down 2.9% compared to the same quarter last year. As a group, research analysts predict that Hudbay Minerals Inc. will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 4th were issued a dividend of $0.007 per share. This represents a yield of 0.2%. The ex-dividend date was Tuesday, March 4th. This is a positive change from Hudbay Minerals's previous semi-annual dividend of $0.01. Hudbay Minerals's dividend payout ratio is 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.