Guggenheim Capital LLC Acquires Shares of 23,003 Hudbay Minerals Inc. (NYSE:HBM)

Guggenheim Capital LLC acquired a new stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 23,003 shares of the mining company’s stock, valued at approximately $186,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Hudbay Minerals in the 4th quarter valued at $50,260,000. American Century Companies Inc. lifted its stake in shares of Hudbay Minerals by 102.4% in the 4th quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company’s stock valued at $34,684,000 after purchasing an additional 2,163,000 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Hudbay Minerals by 111.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,777,571 shares of the mining company’s stock valued at $30,602,000 after purchasing an additional 1,994,431 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Hudbay Minerals by 181.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,346,753 shares of the mining company’s stock valued at $10,909,000 after purchasing an additional 867,456 shares during the period. Finally, AGF Management Ltd. lifted its stake in shares of Hudbay Minerals by 96.1% in the 4th quarter. AGF Management Ltd. now owns 1,396,581 shares of the mining company’s stock valued at $11,328,000 after purchasing an additional 684,380 shares during the period. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Stock Performance

NYSE:HBM opened at $7.45 on Wednesday. Hudbay Minerals Inc. has a twelve month low of $5.95 and a twelve month high of $10.49. The company has a market cap of $2.94 billion, a P/E ratio of 41.39 and a beta of 1.62. 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 company’s 50-day moving average price is $7.29 and its 200-day moving average price is $8.28.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The business had revenue of $584.90 million during the quarter, compared to analysts’ expectations of $588.28 million. During the same period last year, the business earned $0.20 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that Hudbay Minerals Inc. will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th were paid a $0.007 dividend. This represents a yield of 0.2%. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. The ex-dividend date was Tuesday, March 4th. Hudbay Minerals’s dividend payout ratio (DPR) is 5.56%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on HBM shares. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research note on Wednesday, March 19th. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. BMO Capital Markets initiated coverage on shares of Hudbay Minerals in a research report on Wednesday, April 16th. They set an “outperform” rating for the company. Finally, Desjardins initiated coverage on shares of Hudbay Minerals in a research report on Friday, April 4th. They set a “buy” rating for the company. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus 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.