Lighthouse Investment Partners LLC Reduces Stake in Hudbay Minerals Inc. (NYSE:HBM)

Lighthouse Investment Partners LLC lessened its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 88.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 23,700 shares of the mining company’s stock after selling 185,700 shares during the period. Lighthouse Investment Partners LLC’s holdings in Hudbay Minerals were worth $192,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC increased its holdings in Hudbay Minerals by 9,877.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock worth $25,000 after buying an additional 3,062 shares during the period. Algert Global LLC purchased a new stake in Hudbay Minerals in the fourth quarter valued at approximately $86,000. Plato Investment Management Ltd purchased a new stake in Hudbay Minerals during the 4th quarter worth approximately $95,000. Hsbc Holdings PLC purchased a new position in shares of Hudbay Minerals in the 4th quarter valued at about $97,000. Finally, Advisory Services Network LLC purchased a new position in shares of Hudbay Minerals in the 4th quarter valued at about $101,000. 57.82% of the stock is currently owned by institutional investors.

Hudbay Minerals Trading Down 1.9%

NYSE:HBM opened at $8.35 on Friday. The business’s 50-day simple moving average is $7.46 and its 200-day simple moving average is $8.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. Hudbay Minerals Inc. has a fifty-two week low of $5.95 and a fifty-two week high of $10.49. The stock has a market capitalization of $3.30 billion, a PE ratio of 46.39 and a beta of 1.56.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.14. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The company had revenue of $594.90 million during the quarter, compared to the consensus estimate of $537.36 million. During the same quarter in the prior year, the firm posted $0.22 EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. Sell-side analysts expect that Hudbay Minerals Inc. will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

The firm also recently announced 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 yield of 0.2%. The ex-dividend date was Tuesday, March 4th. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. Hudbay Minerals’s dividend payout ratio (DPR) is currently 5.56%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HBM. StockNews.com upgraded shares of Hudbay Minerals from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Desjardins initiated coverage on Hudbay Minerals in a research note on Friday, April 4th. They set a “buy” rating for the company. BMO Capital Markets assumed coverage on shares of Hudbay Minerals in a research note on Wednesday, April 16th. They issued an “outperform” rating for the company. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Hudbay Minerals in a report on Tuesday. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Hudbay Minerals presently has an average rating of “Buy” and a consensus price target of $14.00.

Hudbay Minerals 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.