Hudbay Minerals Inc. (NYSE:HBM) Position Reduced by Intact Investment Management Inc.

Intact Investment Management Inc. trimmed its position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 50.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 175,000 shares of the mining company’s stock after selling 181,600 shares during the period. Intact Investment Management Inc.’s holdings in Hudbay Minerals were worth $1,419,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cinctive Capital Management LP lifted its holdings in shares of Hudbay Minerals by 39.7% in the third quarter. Cinctive Capital Management LP now owns 410,669 shares of the mining company’s stock valued at $3,777,000 after buying an additional 116,732 shares during the period. Bank of Montreal Can lifted its holdings in Hudbay Minerals by 23.1% in the 3rd quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock valued at $71,308,000 after acquiring an additional 1,441,991 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Hudbay Minerals by 300.9% during the 3rd quarter. Toronto Dominion Bank now owns 226,841 shares of the mining company’s stock valued at $2,085,000 after purchasing an additional 170,257 shares in the last quarter. Mountaineer Partners Management LLC grew its stake in shares of Hudbay Minerals by 792.5% in the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock worth $94,874,000 after purchasing an additional 9,166,952 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Hudbay Minerals by 9.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,346,659 shares of the mining company’s stock worth $12,395,000 after purchasing an additional 117,275 shares in the last quarter. 57.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Trading Up 4.5 %

Shares of HBM opened at $7.73 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. Hudbay Minerals Inc. has a 1-year low of $6.42 and a 1-year high of $10.49. The stock has a market capitalization of $3.05 billion, a P/E ratio of 42.92 and a beta of 1.72. The business’s 50-day moving average price is $8.18 and its 200 day moving average price is $8.48.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly 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). Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The firm had revenue of $584.90 million for the quarter, compared to analyst estimates of $588.28 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. 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 announced a semi-annual dividend, which will be paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th will be issued a $0.007 dividend. The ex-dividend date is Tuesday, March 4th. This represents a dividend yield of 0.2%. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. Hudbay Minerals’s dividend payout ratio is presently 5.56%.

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.