Hudbay Minerals Inc. (NYSE:HBM) Shares Acquired by AGF Management Ltd.

AGF Management Ltd. lifted its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 96.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,396,581 shares of the mining company’s stock after purchasing an additional 684,380 shares during the period. AGF Management Ltd.’s holdings in Hudbay Minerals were worth $11,328,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Hudbay Minerals by 16.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 104,344 shares of the mining company’s stock worth $846,000 after purchasing an additional 14,540 shares during the last quarter. PCJ Investment Counsel Ltd. lifted its holdings in Hudbay Minerals by 11.9% in the fourth quarter. PCJ Investment Counsel Ltd. now owns 333,270 shares of the mining company’s stock valued at $2,700,000 after acquiring an additional 35,370 shares during the last quarter. Callan Family Office LLC acquired a new position in Hudbay Minerals in the fourth quarter valued at approximately $436,000. Raymond James Financial Inc. acquired a new position in Hudbay Minerals in the fourth quarter valued at approximately $183,000. Finally, Plato Investment Management Ltd acquired a new position in Hudbay Minerals in the fourth quarter valued at approximately $95,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Stock Up 6.6 %

Shares of NYSE HBM opened at $7.04 on Wednesday. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 39.09 and a beta of 1.72. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. Hudbay Minerals Inc. has a 52-week low of $6.23 and a 52-week high of $10.49. The business’s 50 day moving average is $8.23 and its two-hundred day moving average is $8.50.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data 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 company had revenue of $584.90 million for the quarter, compared to analysts’ expectations of $588.28 million. During the same period in the prior year, the company posted $0.20 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. Research analysts predict that Hudbay Minerals Inc. will post 0.79 EPS for the current year.

Hudbay Minerals Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.007 per share. 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 currently 5.56%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $11.17.

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.