Balyasny Asset Management L.P. Takes $3.63 Million Position in Hudbay Minerals Inc. (NYSE:HBM)

Balyasny Asset Management L.P. acquired a new stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the 4th quarter, Holdings Channel reports. The firm acquired 448,152 shares of the mining company’s stock, valued at approximately $3,630,000.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on HBM. Desjardins began coverage on Hudbay Minerals in a research note on Friday, April 4th. They set a “buy” rating for the company. BMO Capital Markets began coverage on Hudbay Minerals in a research note on Wednesday, April 16th. They set an “outperform” rating for the company. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research note on Wednesday, March 19th. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $14.00.

Hudbay Minerals Stock Performance

Shares of NYSE:HBM opened at $7.69 on Monday. Hudbay Minerals Inc. has a twelve month low of $5.95 and a twelve month high of $10.49. The firm has a market cap of $3.04 billion, a PE ratio of 42.72 and a beta of 1.56. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. The business has a fifty day moving average of $7.35 and a 200-day moving average of $8.17.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its 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 business had revenue of $584.90 million during the quarter, compared to analyst estimates of $588.28 million. During the same quarter last year, the business posted $0.20 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts predict that Hudbay Minerals Inc. will post 0.79 EPS 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. Stockholders of record on Tuesday, March 4th were paid a $0.007 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. This represents a dividend yield of 0.2%. Hudbay Minerals’s dividend payout ratio (DPR) is 5.56%.

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.