Boston Partners Sells 29,256 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Boston Partners lowered its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 382,985 shares of the mining company’s stock after selling 29,256 shares during the period. Boston Partners’ holdings in Hudbay Minerals were worth $3,102,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in shares of Hudbay Minerals during the 3rd quarter valued at about $28,000. Jennison Associates LLC lifted its holdings in Hudbay Minerals by 12.2% in the third quarter. Jennison Associates LLC now owns 3,298,814 shares of the mining company’s stock worth $30,340,000 after buying an additional 359,126 shares during the period. Bank of Montreal Can boosted 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 valued at $71,308,000 after acquiring an additional 1,441,991 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Hudbay Minerals by 9.5% during 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 acquiring an additional 117,275 shares during the period. Finally, FMR LLC raised its position in shares of Hudbay Minerals by 0.7% in the 3rd quarter. FMR LLC now owns 354,392 shares of the mining company’s stock worth $3,260,000 after acquiring an additional 2,624 shares in the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a report on Wednesday. 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 an average rating of “Buy” and a consensus price target of $11.50.

Hudbay Minerals Stock Down 2.1 %

HBM stock opened at $8.15 on Friday. The business has a 50 day moving average of $8.13 and a 200 day moving average of $8.49. The firm has a market cap of $3.22 billion, a PE ratio of 45.25 and a beta of 1.72. Hudbay Minerals Inc. has a twelve month low of $6.42 and a twelve month high of $10.49. 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 (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $588.28 million. During the same period in the prior year, the firm earned $0.20 EPS. Hudbay Minerals’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, research analysts forecast that Hudbay Minerals Inc. will post 0.79 EPS for the current fiscal year.

Hudbay Minerals Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.007 per share. 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. This represents a dividend yield of 0.2%. 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.