Hudbay Minerals Inc. (NYSE:HBM) Shares Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its position in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 31.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 395,700 shares of the mining company's stock after purchasing an additional 94,200 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.10% of Hudbay Minerals worth $3,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA increased its holdings in Hudbay Minerals by 2.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company's stock valued at $538,000 after buying an additional 1,278 shares in the last quarter. Sprott Inc. grew its position in shares of 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 acquiring an additional 2,162 shares during the period. Alliancebernstein L.P. increased its stake in shares of Hudbay Minerals by 3.9% in the 4th quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company's stock valued at $589,000 after purchasing an additional 2,740 shares in the last quarter. Smith Moore & CO. raised its holdings in Hudbay Minerals by 28.4% in the 4th quarter. Smith Moore & CO. now owns 13,716 shares of the mining company's stock worth $111,000 after purchasing an additional 3,032 shares during the period. Finally, Oliver Luxxe Assets LLC boosted its position in Hudbay Minerals by 2.5% during the fourth quarter. Oliver Luxxe Assets LLC now owns 132,498 shares of the mining company's stock worth $1,073,000 after purchasing an additional 3,282 shares in the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HBM has been the subject of a number of recent analyst reports. StockNews.com upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Desjardins initiated coverage on shares of Hudbay Minerals in a research report on Friday, April 4th. They set a "buy" rating for the company. Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, BMO Capital Markets assumed coverage on shares of Hudbay Minerals in a research note on Wednesday, April 16th. They set an "outperform" rating for the company. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Hudbay Minerals currently has an average rating of "Buy" and a consensus target price of $14.00.

Hudbay Minerals Price Performance

Shares of HBM traded down $0.02 during trading hours on Tuesday, hitting $7.44. 603,860 shares of the stock were exchanged, compared to its average volume of 4,741,419. The stock's 50-day moving average price is $7.29 and its two-hundred day moving average price is $8.28. Hudbay Minerals Inc. has a 12-month low of $5.95 and a 12-month high of $10.49. 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 company has a market cap of $2.94 billion, a price-to-earnings ratio of 41.12 and a beta of 1.62.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). The business 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%. Hudbay Minerals's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 EPS. Research analysts expect that Hudbay Minerals Inc. will post 0.79 earnings per share for the current year.

Hudbay Minerals Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th were issued a $0.007 dividend. This is an increase 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 dividend payout ratio is presently 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.