Letko Brosseau & Associates Inc. Increases Stock Position in Hudbay Minerals Inc (NYSE:HBM)

Letko Brosseau & Associates Inc. boosted its position in Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,465,873 shares of the mining company’s stock after purchasing an additional 245,440 shares during the quarter. Hudbay Minerals comprises 1.9% of Letko Brosseau & Associates Inc.’s investment portfolio, making the stock its 19th biggest position. Letko Brosseau & Associates Inc. owned about 0.14% of Hudbay Minerals worth $192,426,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Two Sigma Investments LP purchased a new position in shares of Hudbay Minerals during the fourth quarter valued at $126,000. Two Sigma Advisers LP grew its holdings in shares of Hudbay Minerals by 8.8% during the fourth quarter. Two Sigma Advisers LP now owns 159,400 shares of the mining company’s stock valued at $752,000 after buying an additional 12,900 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Hudbay Minerals during the fourth quarter valued at $148,000. Legal & General Group Plc grew its holdings in shares of Hudbay Minerals by 5.4% during the fourth quarter. Legal & General Group Plc now owns 61,227 shares of the mining company’s stock valued at $290,000 after buying an additional 3,156 shares in the last quarter. Finally, Macquarie Group Ltd. purchased a new position in shares of Hudbay Minerals during the fourth quarter valued at $148,000. Institutional investors and hedge funds own 63.41% of the company’s stock.

NYSE HBM traded up $0.09 on Thursday, reaching $3.26. The stock had a trading volume of 69,666 shares, compared to its average volume of 1,216,355. The firm has a 50 day simple moving average of $4.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.64 and a quick ratio of 2.14. Hudbay Minerals Inc has a 1 year low of $3.17 and a 1 year high of $7.83. The company has a market capitalization of $888.33 million, a P/E ratio of 8.35, a price-to-earnings-growth ratio of 9.12 and a beta of 2.89.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Thursday, August 8th. The mining company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.10). Hudbay Minerals had a negative net margin of 3.61% and a positive return on equity of 1.50%. The firm had revenue of $329.40 million during the quarter, compared to analysts’ expectations of $310.63 million. During the same quarter last year, the firm earned $0.09 EPS. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. On average, research analysts forecast that Hudbay Minerals Inc will post 0.06 EPS for the current year.

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be paid a $0.008 dividend. The ex-dividend date of this dividend is Thursday, September 5th. Hudbay Minerals’s dividend payout ratio (DPR) is currently 5.13%.

HBM has been the topic of a number of research analyst reports. Credit Suisse Group lowered their price target on Hudbay Minerals from $11.50 to $8.75 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. CIBC reiterated a “hold” rating and set a $9.00 price target on shares of Hudbay Minerals in a report on Sunday, May 12th. ValuEngine upgraded Hudbay Minerals from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Zacks Investment Research downgraded Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Raymond James reiterated a “hold” rating and set a $10.50 price target on shares of Hudbay Minerals in a report on Wednesday, May 8th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $8.35.

About Hudbay Minerals

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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