Nikko Asset Management Americas Inc. Makes New Investment in Hudbay Minerals Inc. (NYSE:HBM)

Nikko Asset Management Americas Inc. bought a new stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 41,304 shares of the mining company’s stock, valued at approximately $335,000.

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

Wall Street Analyst Weigh In

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

Hudbay Minerals Stock Performance

Shares of HBM opened at $8.08 on Tuesday. Hudbay Minerals Inc. has a 52-week low of $6.42 and a 52-week high of $10.49. The stock’s 50-day simple moving average is $8.17 and its 200 day simple moving average is $8.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 44.86 and a beta of 1.72.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced 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). The firm had revenue of $584.90 million during the quarter, compared to analysts’ expectations of $588.28 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 earnings per share. 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 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 of this dividend is Tuesday, March 4th. This represents a dividend yield of 0.2%. This is a boost from Hudbay Minerals’s previous semi-annual dividend of $0.01. Hudbay Minerals’s dividend payout ratio is presently 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.