Nikko Asset Management Americas Inc. Invests $335,000 in Hudbay Minerals Inc. (NYSE:HBM)

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

Other institutional investors have also added to or reduced their stakes in the company. Mountaineer Partners Management LLC increased its holdings in shares of 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 valued at $94,874,000 after acquiring an additional 9,166,952 shares in the last quarter. Bank of Montreal Can increased its stake in Hudbay Minerals by 23.1% during the 3rd quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock valued at $71,308,000 after purchasing an additional 1,441,991 shares in the last quarter. Verition Fund Management LLC raised its holdings in Hudbay Minerals by 106.8% during the third quarter. Verition Fund Management LLC now owns 2,585,032 shares of the mining company’s stock worth $23,756,000 after buying an additional 1,334,969 shares during the last quarter. Polar Asset Management Partners Inc. lifted its stake in shares of Hudbay Minerals by 1,310.6% in the third quarter. Polar Asset Management Partners Inc. now owns 764,400 shares of the mining company’s stock valued at $7,026,000 after buying an additional 710,212 shares in the last quarter. Finally, AGF Management Ltd. grew its holdings in shares of Hudbay Minerals by 96.1% during the fourth quarter. AGF Management Ltd. now owns 1,396,581 shares of the mining company’s stock valued at $11,328,000 after buying an additional 684,380 shares during the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of 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 company’s stock. Based on data from MarketBeat.com, Hudbay Minerals has a consensus rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals Price Performance

HBM opened at $8.08 on Tuesday. The firm’s fifty day moving average price is $8.17 and its two-hundred day moving average price is $8.49. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 44.86 and a beta of 1.72. 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 $6.42 and a 1 year high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued 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). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The firm had revenue of $584.90 million during the quarter, compared to the consensus estimate of $588.28 million. During the same period in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, analysts anticipate that Hudbay Minerals Inc. will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

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