11,703 Shares in Hudbay Minerals Inc. (NYSE:HBM) Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd acquired a new position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 11,703 shares of the mining company’s stock, valued at approximately $95,000.

Other hedge funds also recently added to or reduced their stakes in the company. Cinctive Capital Management LP lifted its position in Hudbay Minerals by 39.7% during the 3rd quarter. Cinctive Capital Management LP now owns 410,669 shares of the mining company’s stock worth $3,777,000 after acquiring an additional 116,732 shares during the period. Bank of Montreal Can lifted its position in Hudbay Minerals by 23.1% during the 3rd quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock worth $71,308,000 after acquiring an additional 1,441,991 shares during the period. Toronto Dominion Bank lifted its position in Hudbay Minerals by 300.9% during the 3rd quarter. Toronto Dominion Bank now owns 226,841 shares of the mining company’s stock worth $2,085,000 after acquiring an additional 170,257 shares during the period. Mountaineer Partners Management LLC lifted its position in Hudbay Minerals by 792.5% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock worth $94,874,000 after acquiring an additional 9,166,952 shares during the period. Finally, Jennison Associates LLC lifted its position in Hudbay Minerals by 12.2% during the 3rd quarter. Jennison Associates LLC now owns 3,298,814 shares of the mining company’s stock worth $30,340,000 after acquiring an additional 359,126 shares during the period. 57.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Hudbay Minerals Stock Up 8.1 %

HBM opened at $7.45 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The business has a 50 day simple moving average of $8.33 and a 200-day simple moving average of $8.53. The stock has a market capitalization of $2.94 billion, a P/E ratio of 41.36 and a beta of 1.74. Hudbay Minerals Inc. has a 12 month low of $6.12 and a 12 month high of $10.49.

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

Hudbay Minerals Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, March 21st. Investors of record on Tuesday, March 4th will be issued a dividend of $0.007 per share. The ex-dividend date is Tuesday, March 4th. This is a boost from Hudbay Minerals’s previous semi-annual dividend of $0.01. This represents a yield of 0.2%. Hudbay Minerals’s payout ratio is currently 5.56%.

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.