Swiss National Bank Grows Stock Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Swiss National Bank raised its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 778,500 shares of the mining company’s stock after acquiring an additional 4,700 shares during the period. Swiss National Bank owned approximately 0.20% of Hudbay Minerals worth $6,312,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Plato Investment Management Ltd acquired a new position in shares of Hudbay Minerals in the fourth quarter valued at approximately $95,000. First Affirmative Financial Network raised its position in Hudbay Minerals by 39.2% during the 4th quarter. First Affirmative Financial Network now owns 15,563 shares of the mining company’s stock worth $126,000 after buying an additional 4,386 shares during the last quarter. Ballentine Partners LLC raised its position in Hudbay Minerals by 32.1% during the 4th quarter. Ballentine Partners LLC now owns 20,820 shares of the mining company’s stock worth $169,000 after buying an additional 5,064 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Hudbay Minerals in the 3rd quarter worth $178,000. Finally, Savant Capital LLC purchased a new stake in shares of Hudbay Minerals in the fourth quarter valued at about $180,000. 57.82% of the stock is owned by institutional investors and hedge funds.

Hudbay Minerals Stock Down 2.1 %

Shares of NYSE HBM opened at $8.15 on Monday. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $8.13 and a 200 day moving average price of $8.50. Hudbay Minerals Inc. has a 52 week low of $6.42 and a 52 week high of $10.49. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 45.25 and a beta of 1.72.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly 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 return on equity of 7.29% and a net margin of 3.80%. The firm had revenue of $584.90 million for the quarter, compared to analysts’ expectations of $588.28 million. During the same period last year, the firm earned $0.20 EPS. Hudbay Minerals’s revenue was down 2.9% compared to the same quarter last year. Equities research analysts anticipate that Hudbay Minerals Inc. will post 0.79 EPS for the current fiscal year.

Hudbay Minerals Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th were issued a $0.007 dividend. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. The ex-dividend date was Tuesday, March 4th. This represents a yield of 0.2%. Hudbay Minerals’s dividend payout ratio is 5.56%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on HBM shares. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a report on Wednesday, March 19th. Four 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, the company currently has a consensus rating of “Buy” and an average target price of $11.50.

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.