Van ECK Associates Corp Has $1.69 Million Stock Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Van ECK Associates Corp lifted its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 35.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 307,103 shares of the mining company’s stock after purchasing an additional 80,340 shares during the quarter. Van ECK Associates Corp owned 0.09% of Hudbay Minerals worth $1,693,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of HBM. Bank of Nova Scotia grew its stake in Hudbay Minerals by 19.1% during the third quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock worth $121,000 after buying an additional 3,979 shares in the last quarter. Barclays PLC boosted its position in shares of Hudbay Minerals by 7.1% during the 3rd quarter. Barclays PLC now owns 63,154 shares of the mining company’s stock worth $308,000 after acquiring an additional 4,169 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Hudbay Minerals by 6.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,641 shares of the mining company’s stock valued at $396,000 after acquiring an additional 4,655 shares during the last quarter. Shell Asset Management Co. raised its position in Hudbay Minerals by 38.6% during the third quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company’s stock valued at $128,000 after purchasing an additional 7,300 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Hudbay Minerals by 18.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 55,519 shares of the mining company’s stock worth $270,000 after purchasing an additional 8,563 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Price Performance

Shares of NYSE:HBM opened at $8.45 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.87 and a current ratio of 1.25. Hudbay Minerals Inc. has a 52 week low of $3.94 and a 52 week high of $8.85. The firm has a market cap of $2.96 billion, a PE ratio of 42.23, a price-to-earnings-growth ratio of 0.91 and a beta of 1.88. The firm’s fifty day moving average is $7.32 and its 200-day moving average is $5.85.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The firm had revenue of $602.20 million for the quarter, compared to the consensus estimate of $552.74 million. During the same period in the previous year, the business earned $0.01 EPS. The business’s quarterly revenue was up 87.5% compared to the same quarter last year. Sell-side analysts predict that Hudbay Minerals Inc. will post 0.4 earnings per share for the current year.

Hudbay Minerals Cuts Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on HBM shares. Raymond James lifted their price target on Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Bank of America raised shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price for the company in a report on Tuesday, April 9th. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, March 29th. Jefferies Financial Group started coverage on shares of Hudbay Minerals in a research note on Friday, May 3rd. They issued a “hold” rating and a $13.00 price objective for the company. Finally, Stifel Nicolaus began coverage on shares of Hudbay Minerals in a research note on Tuesday, March 26th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Hudbay Minerals presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.21.

Hudbay Minerals Company 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.