Vanguard Group Inc. Purchases 255,191 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Vanguard Group Inc. grew its stake in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,267,805 shares of the mining company's stock after buying an additional 255,191 shares during the period. Vanguard Group Inc. owned approximately 3.87% of Hudbay Minerals worth $123,852,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. FMR LLC grew its holdings in Hudbay Minerals by 0.7% during the third quarter. FMR LLC now owns 354,392 shares of the mining company's stock valued at $3,260,000 after purchasing an additional 2,624 shares during the period. HighTower Advisors LLC bought a new stake in shares of Hudbay Minerals in the 3rd quarter valued at $413,000. XTX Topco Ltd raised its stake in Hudbay Minerals by 252.5% during the 3rd quarter. XTX Topco Ltd now owns 51,005 shares of the mining company's stock worth $469,000 after buying an additional 36,534 shares during the period. MML Investors Services LLC bought a new position in Hudbay Minerals during the third quarter worth about $226,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Hudbay Minerals in the third quarter valued at about $1,122,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Stock Up 5.6 %

Shares of NYSE HBM traded up $0.37 during midday trading on Friday, reaching $6.89. The company's stock had a trading volume of 16,354,262 shares, compared to its average volume of 4,630,076. The stock has a 50 day simple moving average of $7.69 and a 200-day simple moving average of $8.44. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 38.25 and a beta of 1.62. Hudbay Minerals Inc. has a fifty-two week low of $5.95 and a fifty-two week high of $10.49.

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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 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 analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 earnings per share. Equities research analysts predict that Hudbay Minerals Inc. will post 0.79 earnings per share for the current year.

Hudbay Minerals Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Desjardins assumed coverage on shares of Hudbay Minerals in a report on Friday, April 4th. They set a "buy" rating on the stock. Finally, Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $14.00.

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.