CoreCommodity Management LLC Boosts Stake in Hudbay Minerals Inc (HBM)

CoreCommodity Management LLC lifted its holdings in shares of Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 465,700 shares of the mining company’s stock after acquiring an additional 4,400 shares during the period. Hudbay Minerals makes up 1.9% of CoreCommodity Management LLC’s holdings, making the stock its 10th biggest holding. CoreCommodity Management LLC owned 0.18% of Hudbay Minerals worth $2,205,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. New York State Common Retirement Fund bought a new stake in shares of Hudbay Minerals during the fourth quarter worth about $33,000. National Asset Management Inc. bought a new stake in Hudbay Minerals in the 4th quarter worth about $60,000. Ramsey Quantitative Systems bought a new stake in Hudbay Minerals in the 4th quarter worth about $60,000. Neuberger Berman Group LLC grew its position in Hudbay Minerals by 140.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 33,356 shares of the mining company’s stock worth $169,000 after purchasing an additional 19,477 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in Hudbay Minerals in the 3rd quarter worth about $172,000. 63.82% of the stock is owned by institutional investors.

A number of research analysts have recently weighed in on the stock. ValuEngine raised shares of Hudbay Minerals from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. Royal Bank of Canada downgraded shares of Hudbay Minerals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, December 12th. BMO Capital Markets assumed coverage on shares of Hudbay Minerals in a research report on Tuesday, January 8th. They set an “outperform” rating for the company. Canaccord Genuity downgraded shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Wednesday, February 20th. Finally, CIBC reissued a “neutral” rating on shares of Hudbay Minerals in a research report on Sunday, January 20th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $6.92.

Hudbay Minerals stock opened at $6.65 on Friday. Hudbay Minerals Inc has a twelve month low of $3.44 and a twelve month high of $7.95. The company has a market cap of $1.74 billion, a PE ratio of 17.05, a P/E/G ratio of 7.19 and a beta of 2.90. The company has a quick ratio of 2.00, a current ratio of 2.36 and a debt-to-equity ratio of 0.47.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Tuesday, February 19th. The mining company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.04. Hudbay Minerals had a net margin of 5.80% and a return on equity of 4.73%. The firm had revenue of $351.77 million during the quarter, compared to the consensus estimate of $306.75 million. During the same period in the prior year, the firm earned $0.38 EPS. The company’s revenue was down 17.1% compared to the same quarter last year. On average, equities analysts expect that Hudbay Minerals Inc will post 0.17 EPS for the current fiscal year.

The business also recently announced a Semi-Annual dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be given a dividend of $0.008 per share. This represents a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, March 7th. Hudbay Minerals’s dividend payout ratio is currently 5.13%.

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Hudbay Minerals Profile

Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.

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Institutional Ownership by Quarter for Hudbay Minerals (NYSE:HBM)

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