Encompass Capital Advisors LLC Buys 1,734,255 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Encompass Capital Advisors LLC boosted its position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 99.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,484,227 shares of the mining company’s stock after purchasing an additional 1,734,255 shares during the period. Encompass Capital Advisors LLC’s holdings in Hudbay Minerals were worth $28,246,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of HBM. Pictet Asset Management Holding SA lifted its position in shares of Hudbay Minerals by 2.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company’s stock valued at $538,000 after buying an additional 1,278 shares during the last quarter. Sprott Inc. grew its stake in Hudbay Minerals by 3.5% in the 4th quarter. Sprott Inc. now owns 63,662 shares of the mining company’s stock valued at $516,000 after buying an additional 2,162 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Hudbay Minerals by 3.9% during the 4th quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company’s stock valued at $589,000 after acquiring an additional 2,740 shares during the period. Smith Moore & CO. boosted its holdings in shares of Hudbay Minerals by 28.4% in the fourth quarter. Smith Moore & CO. now owns 13,716 shares of the mining company’s stock worth $111,000 after acquiring an additional 3,032 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Hudbay Minerals by 9,877.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock valued at $25,000 after purchasing an additional 3,062 shares in the last quarter. 57.82% of the stock is owned by institutional investors.

Hudbay Minerals Trading Up 1.8 %

Shares of HBM stock opened at $7.62 on Friday. The firm has a market cap of $3.01 billion, a P/E ratio of 42.31 and a beta of 1.56. The business has a 50-day moving average price of $7.34 and a two-hundred day moving average price of $8.20. 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 12-month low of $5.95 and a 12-month high of $10.49.

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

Hudbay Minerals Increases Dividend

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

Analyst Ratings Changes

HBM has been the subject of several analyst reports. Desjardins started coverage on Hudbay Minerals in a research note on Friday, April 4th. They issued a “buy” rating for the company. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a report on Wednesday, March 19th. BMO Capital Markets initiated coverage on shares of Hudbay Minerals in a report on Wednesday, April 16th. They issued an “outperform” rating for the company. Finally, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Hudbay Minerals presently has a consensus rating of “Buy” and a consensus price target of $14.00.

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.