1492 Capital Management LLC Grows Position in Hudbay Minerals Inc. (NYSE:HBM)

1492 Capital Management LLC grew its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 49.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,809 shares of the mining company’s stock after buying an additional 8,230 shares during the quarter. 1492 Capital Management LLC’s holdings in Hudbay Minerals were worth $201,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Hudbay Minerals in the 4th quarter worth approximately $50,260,000. American Century Companies Inc. increased its position in shares of Hudbay Minerals by 102.4% during the fourth quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company’s stock valued at $34,684,000 after buying an additional 2,163,000 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Hudbay Minerals by 111.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,777,571 shares of the mining company’s stock worth $30,602,000 after buying an additional 1,994,431 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Hudbay Minerals by 181.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,346,753 shares of the mining company’s stock worth $10,909,000 after buying an additional 867,456 shares in the last quarter. Finally, AGF Management Ltd. grew its stake in 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 acquiring an additional 684,380 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HBM has been the topic of several recent analyst reports. BMO Capital Markets started coverage on shares of Hudbay Minerals in a research note on Wednesday. They issued an “outperform” rating on the stock. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, Desjardins started coverage on Hudbay Minerals in a research report on Friday, April 4th. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $14.00.

Hudbay Minerals Price Performance

Shares of NYSE:HBM opened at $7.04 on Friday. Hudbay Minerals Inc. has a one year low of $5.95 and a one year high of $10.49. 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 firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 39.12 and a beta of 1.62. The company’s fifty day moving average price is $7.52 and its 200-day moving average price is $8.39.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share 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 firm had revenue of $584.90 million for the quarter, compared to analysts’ expectations of $588.28 million. During the same quarter in the previous year, the business earned $0.20 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities research 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 was paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th were given a dividend of $0.007 per share. This is a boost 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 was Tuesday, March 4th. Hudbay Minerals’s dividend payout ratio (DPR) is presently 5.56%.

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.