T. Rowe Price Investment Management Inc. Acquires 464,925 Shares of Hudbay Minerals Inc. (NYSE:HBM)

T. Rowe Price Investment Management Inc. boosted its position in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 11.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,667,735 shares of the mining company's stock after purchasing an additional 464,925 shares during the period. T. Rowe Price Investment Management Inc. owned about 1.18% of Hudbay Minerals worth $37,809,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Hudbay Minerals by 1.7% during 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 last quarter. Invesco Ltd. boosted its holdings in shares of Hudbay Minerals by 2.7% in the 4th quarter. Invesco Ltd. now owns 11,815,849 shares of the mining company's stock worth $95,708,000 after buying an additional 314,619 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Hudbay Minerals by 86.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company's stock valued at $74,105,000 after buying an additional 4,253,400 shares during the period. Bank of Montreal Can raised its position in Hudbay Minerals by 4.9% in the fourth quarter. Bank of Montreal Can now owns 8,065,777 shares of the mining company's stock worth $65,342,000 after acquiring an additional 374,258 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Hudbay Minerals by 0.6% during 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 during the period. Institutional investors own 57.82% of the company's stock.

Hudbay Minerals Stock Performance

Shares of Hudbay Minerals stock remained flat at $7.45 on Tuesday. 2,482,994 shares of the stock were exchanged, compared to its average volume of 4,753,545. The stock's 50-day moving average price is $7.29 and its 200 day moving average price is $8.28. The stock has a market capitalization of $2.94 billion, a P/E ratio of 41.39 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. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted 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 company had revenue of $584.90 million during the quarter, compared to the consensus estimate of $588.28 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The firm's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the company posted $0.20 earnings per share. On average, equities analysts anticipate that Hudbay Minerals Inc. will post 0.79 EPS for the current fiscal year.

Hudbay Minerals Increases Dividend

The business 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. The ex-dividend date was Tuesday, March 4th. This is a boost from Hudbay Minerals's previous semi-annual dividend of $0.01. This represents a yield of 0.2%. Hudbay Minerals's dividend payout ratio is currently 5.56%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on HBM shares. Desjardins began coverage on Hudbay Minerals in a research report on Friday, April 4th. They issued a "buy" rating for the company. StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Friday, February 7th. BMO Capital Markets assumed coverage on shares of Hudbay Minerals in a research note on Wednesday, April 16th. They issued an "outperform" rating for the company. Finally, Stifel Canada upgraded shares of Hudbay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price 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.