Magnetar Financial LLC Invests $477,000 in Hudbay Minerals Inc. (NYSE:HBM)

Magnetar Financial LLC acquired a new position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 58,849 shares of the mining company’s stock, valued at approximately $477,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in shares of Hudbay Minerals in the 3rd quarter worth approximately $28,000. Plato Investment Management Ltd purchased a new position in shares of Hudbay Minerals in the 4th quarter worth approximately $95,000. First Affirmative Financial Network grew its position in shares of Hudbay Minerals by 39.2% in the 4th quarter. First Affirmative Financial Network now owns 15,563 shares of the mining company’s stock worth $126,000 after buying an additional 4,386 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Hudbay Minerals by 32.1% in the 4th quarter. Ballentine Partners LLC now owns 20,820 shares of the mining company’s stock worth $169,000 after buying an additional 5,064 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Hudbay Minerals in the 3rd quarter worth approximately $178,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Stock Down 2.1 %

NYSE:HBM opened at $8.15 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 twelve month low of $6.42 and a twelve month high of $10.49. The company’s 50 day moving average is $8.13 and its two-hundred day moving average is $8.49. The company has a market cap of $3.22 billion, a PE ratio of 45.25 and a beta of 1.72.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The business had revenue of $584.90 million for the quarter, compared to analyst estimates of $588.28 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The business’s revenue was down 2.9% on a year-over-year basis. Analysts anticipate that Hudbay Minerals Inc. will post 0.79 EPS for the current year.

Hudbay Minerals Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.007 per share. This represents a yield of 0.2%. This is a boost from Hudbay Minerals’s previous semi-annual dividend of $0.01. The ex-dividend date of this dividend was Tuesday, March 4th. Hudbay Minerals’s payout ratio is presently 5.56%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on HBM shares. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $11.50.

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.