Scotia Capital Inc. Cuts Stake in Hudbay Minerals Inc. (NYSE:HBM)

Scotia Capital Inc. decreased its stake in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 43.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,472 shares of the mining company's stock after selling 69,657 shares during the quarter. Scotia Capital Inc.'s holdings in Hudbay Minerals were worth $741,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its holdings in Hudbay Minerals by 300.9% during the third quarter. Toronto Dominion Bank now owns 226,841 shares of the mining company's stock valued at $2,085,000 after buying an additional 170,257 shares during the period. Barclays PLC lifted its stake in shares of Hudbay Minerals by 2,414.5% during the 3rd quarter. Barclays PLC now owns 86,475 shares of the mining company's stock worth $795,000 after purchasing an additional 83,036 shares during the last quarter. Artemis Investment Management LLP boosted its position in Hudbay Minerals by 13.3% during the fourth quarter. Artemis Investment Management LLP now owns 2,574,709 shares of the mining company's stock valued at $20,858,000 after purchasing an additional 301,455 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Hudbay Minerals in the fourth quarter valued at about $183,000. Finally, HighTower Advisors LLC bought a new position in Hudbay Minerals in the third quarter worth about $413,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Trading Down 0.3 %

Shares of HBM stock traded down $0.02 during trading on Friday, hitting $7.04. 6,438,641 shares of the stock traded hands, compared to its average volume of 4,723,310. The firm's fifty day moving average price is $7.48 and its 200-day moving average price is $8.38. 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 firm has a market capitalization of $2.78 billion, a P/E ratio of 39.12 and a beta of 1.62. Hudbay Minerals Inc. has a 52-week low of $5.95 and a 52-week 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 company had revenue of $584.90 million for the quarter, compared to analysts' expectations of $588.28 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The company's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.20 EPS. As a group, research analysts forecast 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. Shareholders of record on Tuesday, March 4th were given a $0.007 dividend. This is a positive change from Hudbay Minerals's previous semi-annual dividend of $0.01. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a yield of 0.2%. Hudbay Minerals's payout ratio is presently 5.56%.

Analyst Upgrades and Downgrades

HBM has been the topic of a number of analyst reports. StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Stifel Canada raised Hudbay Minerals to a "strong-buy" rating in a research report on Wednesday, March 19th. BMO Capital Markets initiated coverage on Hudbay Minerals in a research note on Wednesday. They set an "outperform" rating on the stock. Finally, Desjardins assumed coverage on Hudbay Minerals in a report on Friday, April 4th. They issued a "buy" rating for the company. Four investment 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.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $14.00.

About Hudbay Minerals

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.