Stonehaven Wealth & Tax Solutions LLC Invests $121,000 in Hudbay Minerals Inc. (NYSE:HBM)

Stonehaven Wealth & Tax Solutions LLC purchased a new position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 14,970 shares of the mining company’s stock, valued at approximately $121,000.

A number of other hedge funds have also bought and sold shares of the company. HighTower Advisors LLC acquired a new stake in shares of Hudbay Minerals during the third quarter worth $413,000. MML Investors Services LLC acquired a new stake in Hudbay Minerals during the third quarter worth about $226,000. Public Employees Retirement System of Ohio bought a new position in Hudbay Minerals in the third quarter worth about $1,122,000. Barclays PLC boosted its stake in Hudbay Minerals by 2,414.5% in the third quarter. Barclays PLC now owns 86,475 shares of the mining company’s stock valued at $795,000 after acquiring an additional 83,036 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Hudbay Minerals by 4.9% during the third quarter. Geode Capital Management LLC now owns 183,967 shares of the mining company’s stock valued at $1,700,000 after purchasing an additional 8,664 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Stock Up 2.0 %

HBM opened at $7.05 on Wednesday. The stock’s 50 day moving average price is $7.62 and its 200 day moving average price is $8.42. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The stock has a market cap of $2.78 billion, a P/E ratio of 39.14 and a beta of 1.62. 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 issued its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $588.28 million. During the same period last year, the business posted $0.20 earnings per share. Hudbay Minerals’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, research analysts predict that Hudbay Minerals Inc. will post 0.79 earnings per share for the current year.

Hudbay Minerals Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th were given a dividend of $0.007 per share. This represents a dividend yield of 0.2%. This is an increase 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 payout ratio is 5.56%.

Wall Street Analyst Weigh In

HBM has been the subject of a number of analyst reports. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Desjardins assumed coverage on shares of Hudbay Minerals in a research report on Friday, April 4th. They set a “buy” rating for the company. Finally, Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Hudbay Minerals has a consensus rating of “Buy” and a consensus target price of $14.00.

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.