Hudbay Minerals Inc. (NYSE:HBM) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 33.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,014,948 shares of the mining company’s stock after purchasing an additional 1,266,717 shares during the period. Mackenzie Financial Corp’s holdings in Hudbay Minerals were worth $27,604,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HBM. Morgan Stanley grew its position in shares of Hudbay Minerals by 517.8% during the fourth quarter. Morgan Stanley now owns 3,543,730 shares of the mining company’s stock worth $17,967,000 after buying an additional 2,970,160 shares in the last quarter. Invesco Ltd. grew its position in shares of Hudbay Minerals by 60.2% during the third quarter. Invesco Ltd. now owns 6,998,581 shares of the mining company’s stock worth $34,083,000 after buying an additional 2,630,780 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Hudbay Minerals by 96.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,000,946 shares of the mining company’s stock worth $25,269,000 after buying an additional 2,460,627 shares in the last quarter. Millennium Management LLC boosted its holdings in Hudbay Minerals by 449.3% in the fourth quarter. Millennium Management LLC now owns 2,765,452 shares of the mining company’s stock valued at $13,984,000 after purchasing an additional 2,262,022 shares in the last quarter. Finally, L1 Capital Pty Ltd boosted its holdings in Hudbay Minerals by 15.1% in the third quarter. L1 Capital Pty Ltd now owns 16,299,356 shares of the mining company’s stock valued at $79,378,000 after purchasing an additional 2,141,437 shares in the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

Hudbay Minerals Trading Up 0.4 %

Hudbay Minerals stock opened at $7.60 on Thursday. The stock has a market cap of $2.67 billion, a PE ratio of 38.00, a P/E/G ratio of 0.75 and a beta of 1.95. The stock has a 50-day moving average price of $6.48 and a 200 day moving average price of $5.47. Hudbay Minerals Inc. has a 52 week low of $3.94 and a 52 week high of $8.11. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $602.20 million during the quarter, compared to analysts’ expectations of $552.74 million. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The firm’s revenue was up 87.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 EPS. Equities research analysts predict that Hudbay Minerals Inc. will post 0.44 earnings per share for the current fiscal year.

Hudbay Minerals Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 5th were issued a $0.0074 dividend. This represents a yield of 0.3%. The ex-dividend date was Monday, March 4th. Hudbay Minerals’s dividend payout ratio (DPR) is 5.00%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, March 29th. Bank of America upgraded Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Tuesday, April 9th. Raymond James upped their price target on Hudbay Minerals from $9.00 to $10.50 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Finally, Stifel Nicolaus initiated coverage on Hudbay Minerals in a report on Tuesday, March 26th. They issued a “buy” rating on the stock. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $9.75.

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.