Raymond James Financial Services Advisors Inc. Has $110,000 Stock Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Raymond James Financial Services Advisors Inc. lessened its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 10.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 19,841 shares of the mining company’s stock after selling 2,295 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Hudbay Minerals were worth $110,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of HBM. Bank of Nova Scotia raised its stake in Hudbay Minerals by 19.1% in the 3rd quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock worth $121,000 after purchasing an additional 3,979 shares in the last quarter. Shell Asset Management Co. raised its stake in Hudbay Minerals by 38.6% in the 3rd quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company’s stock worth $128,000 after purchasing an additional 7,300 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Hudbay Minerals in the 3rd quarter worth about $195,000. Vanguard Personalized Indexing Management LLC raised its stake in Hudbay Minerals by 18.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 55,519 shares of the mining company’s stock worth $270,000 after purchasing an additional 8,563 shares in the last quarter. Finally, Barclays PLC raised its stake in Hudbay Minerals by 7.1% in the 3rd quarter. Barclays PLC now owns 63,154 shares of the mining company’s stock worth $308,000 after purchasing an additional 4,169 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HBM. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. Stifel Nicolaus initiated coverage on shares of Hudbay Minerals in a report on Tuesday, March 26th. They issued a “buy” rating on the stock. Bank of America raised shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a report on Tuesday, April 9th. Finally, Raymond James raised their target price on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $9.75.

Hudbay Minerals Trading Up 5.0 %

Shares of Hudbay Minerals stock opened at $8.13 on Friday. The firm has a market capitalization of $2.85 billion, a PE ratio of 40.63, a price-to-earnings-growth ratio of 0.79 and a beta of 1.95. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $6.79 and its 200 day moving average is $5.60. Hudbay Minerals Inc. has a 1 year low of $3.94 and a 1 year high of $8.18.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $602.20 million for the quarter, compared to analyst estimates of $552.74 million. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The firm’s revenue was up 87.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 EPS. Equities research analysts forecast that Hudbay Minerals Inc. will post 0.42 earnings per share for the current fiscal year.

Hudbay Minerals Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 5th were issued a dividend of $0.0074 per share. This represents a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, March 4th. Hudbay Minerals’s dividend payout ratio (DPR) is presently 5.00%.

Hudbay Minerals 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.