11,703 Shares in Hudbay Minerals Inc. (NYSE:HBM) Bought 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 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,703 shares of the mining company’s stock, valued at approximately $95,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HBM. Cinctive Capital Management LP increased its position in Hudbay Minerals by 39.7% during the third quarter. Cinctive Capital Management LP now owns 410,669 shares of the mining company’s stock worth $3,777,000 after buying an additional 116,732 shares in the last quarter. Bank of Montreal Can increased its position in Hudbay Minerals by 23.1% during the third quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock worth $71,308,000 after buying an additional 1,441,991 shares in the last quarter. Toronto Dominion Bank increased its position in Hudbay Minerals by 300.9% during the third quarter. Toronto Dominion Bank now owns 226,841 shares of the mining company’s stock worth $2,085,000 after buying an additional 170,257 shares in the last quarter. Mountaineer Partners Management LLC increased its position in Hudbay Minerals by 792.5% during the third quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock worth $94,874,000 after buying an additional 9,166,952 shares in the last quarter. Finally, Jennison Associates LLC increased its position in Hudbay Minerals by 12.2% during 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 in the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Hudbay Minerals Price Performance

Shares of NYSE:HBM opened at $7.45 on Thursday. The company has a market cap of $2.94 billion, a P/E ratio of 41.36 and a beta of 1.74. 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 $6.12 and a 52 week high of $10.49. The business has a fifty day simple moving average of $8.33 and a 200-day simple moving average of $8.53.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $584.90 million during the quarter, compared to analysts’ expectations of $588.28 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. Hudbay Minerals’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. Equities research analysts forecast that Hudbay Minerals Inc. will post 0.79 EPS for the current year.

Hudbay Minerals Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, March 21st. Investors 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 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 (DPR) 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.