Nokomis Capital L.L.C. Increases Position in Hudbay Minerals Inc. (NYSE:HBM)

Nokomis Capital L.L.C. boosted its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 16.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 709,312 shares of the mining company’s stock after purchasing an additional 100,990 shares during the quarter. Hudbay Minerals makes up 2.0% of Nokomis Capital L.L.C.’s holdings, making the stock its 20th largest position. Nokomis Capital L.L.C.’s holdings in Hudbay Minerals were worth $5,745,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HBM. Tower Research Capital LLC TRC lifted its position in shares of Hudbay Minerals by 9,877.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock valued at $25,000 after buying an additional 3,062 shares in the last quarter. Algert Global LLC acquired a new position in Hudbay Minerals during the fourth quarter worth $86,000. Plato Investment Management Ltd purchased a new position in Hudbay Minerals during the fourth quarter valued at $95,000. Hsbc Holdings PLC acquired a new stake in shares of Hudbay Minerals in the fourth quarter valued at about $97,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Hudbay Minerals in the fourth quarter valued at about $101,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HBM. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. StockNews.com raised Hudbay Minerals from a “buy” rating to a “strong-buy” rating in a report on Tuesday. BMO Capital Markets began coverage on Hudbay Minerals in a research report on Wednesday, April 16th. They issued an “outperform” rating on the stock. Finally, Desjardins started coverage on Hudbay Minerals in a research note on Friday, April 4th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Hudbay Minerals presently has an average rating of “Strong Buy” and an average target price of $14.00.

Hudbay Minerals Price Performance

Shares of NYSE HBM opened at $8.67 on Wednesday. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 48.17 and a beta of 1.56. Hudbay Minerals Inc. has a 52 week low of $5.95 and a 52 week high of $10.49. The firm has a 50-day simple moving average of $7.40 and a 200-day simple moving average of $8.16. 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 released its earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.14. The business had revenue of $594.90 million for the quarter, compared to analyst estimates of $537.36 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period last year, the company posted $0.22 EPS. On average, equities analysts predict that Hudbay Minerals Inc. will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

The business 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. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a yield of 0.2%. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. Hudbay Minerals’s payout ratio is 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.