Mackenzie Financial Corp Purchases 1,266,717 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Mackenzie Financial Corp lifted its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 33.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,014,948 shares of the mining company’s stock after buying an additional 1,266,717 shares during the quarter. Mackenzie Financial Corp owned approximately 1.43% of Hudbay Minerals worth $27,604,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Hudbay Minerals by 28.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock worth $51,836,000 after buying an additional 2,085,641 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Hudbay Minerals in the third quarter worth $610,000. Cumberland Partners Ltd raised its stake in Hudbay Minerals by 31.3% during the third quarter. Cumberland Partners Ltd now owns 685,100 shares of the mining company’s stock valued at $3,348,000 after purchasing an additional 163,500 shares in the last quarter. Public Sector Pension Investment Board raised its stake in Hudbay Minerals by 19.6% during the third quarter. Public Sector Pension Investment Board now owns 748,020 shares of the mining company’s stock valued at $3,657,000 after purchasing an additional 122,540 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in Hudbay Minerals by 18.5% during the third quarter. Jennison Associates LLC now owns 1,324,367 shares of the mining company’s stock valued at $6,451,000 after purchasing an additional 206,601 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Hudbay Minerals in a research note on Tuesday, March 26th. They set a “buy” rating on the stock. Bank of America raised shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Tuesday, April 9th. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. Finally, Raymond James upped their price target on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Hudbay Minerals has an average rating of “Buy” and a consensus target price of $9.75.

Hudbay Minerals Trading Up 0.4 %

Shares of HBM opened at $7.60 on Thursday. Hudbay Minerals Inc. has a twelve month low of $3.94 and a twelve month high of $8.11. The company has a market cap of $2.67 billion, a P/E ratio of 38.00, a P/E/G ratio of 0.75 and a beta of 1.95. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. The company’s fifty day simple moving average is $6.48 and its 200-day simple moving average is $5.47.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $602.20 million for the quarter, compared to analysts’ expectations of $552.74 million. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The business’s revenue for the quarter was up 87.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.01 earnings per share. As a group, analysts expect that Hudbay Minerals Inc. will post 0.44 EPS for the current year.

Hudbay Minerals Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.0074 per share. This represents a yield of 0.3%. The ex-dividend date of this dividend was Monday, March 4th. Hudbay Minerals’s payout ratio is 5.00%.

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.