Bayesian Capital Management LP Invests $200,000 in Hudbay Minerals Inc. (NYSE:HBM)

Bayesian Capital Management LP purchased a new stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 24,657 shares of the mining company’s stock, valued at approximately $200,000.

A number of other institutional investors also recently modified their holdings of the business. Bank of America Corp DE raised its holdings in Hudbay Minerals by 269.3% during the 4th quarter. Bank of America Corp DE now owns 2,409,267 shares of the mining company’s stock valued at $19,515,000 after acquiring an additional 1,756,930 shares during the period. Algert Global LLC bought a new stake in shares of Hudbay Minerals during the 4th quarter valued at $86,000. Orion Resource Partners LP purchased a new stake in Hudbay Minerals during the 4th quarter worth about $508,000. The Manufacturers Life Insurance Company boosted its stake in Hudbay Minerals by 11.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,497,369 shares of the mining company’s stock worth $12,162,000 after purchasing an additional 150,710 shares during the period. Finally, Decade Renewable Partners LP grew its holdings in Hudbay Minerals by 56.9% during the 4th quarter. Decade Renewable Partners LP now owns 1,081,767 shares of the mining company’s stock valued at $8,762,000 after buying an additional 392,250 shares in the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HBM shares. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Desjardins assumed coverage on shares of Hudbay Minerals in a research note on Friday, April 4th. They issued a “buy” rating on the stock. BMO Capital Markets began coverage on shares of Hudbay Minerals in a research report on Wednesday, April 16th. They set an “outperform” rating for the company. Finally, Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. Four equities 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 stock currently has an average rating of “Buy” and an average target price of $14.00.

Hudbay Minerals Trading Up 1.8 %

Shares of Hudbay Minerals stock opened at $7.62 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. Hudbay Minerals Inc. has a 1 year low of $5.95 and a 1 year high of $10.49. The firm has a market cap of $3.01 billion, a PE ratio of 42.31 and a beta of 1.56. The company has a 50 day simple moving average of $7.34 and a two-hundred day simple moving average of $8.20.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The company had revenue of $584.90 million for the quarter, compared to the consensus estimate of $588.28 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 earnings per share. Analysts expect that Hudbay Minerals Inc. will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th were given a dividend of $0.007 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. This represents a dividend yield of 0.2%. Hudbay Minerals’s dividend payout ratio is 5.56%.

About Hudbay Minerals

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.