Charles Schwab Investment Management Inc. Sells 43,643 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Charles Schwab Investment Management Inc. lowered its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 3.9% during the fourth quarter, Holdings Channel reports. The firm owned 1,083,298 shares of the mining company’s stock after selling 43,643 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Hudbay Minerals were worth $8,783,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Mountaineer Partners Management LLC grew its position in Hudbay Minerals by 792.5% in the third quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock valued at $94,874,000 after acquiring an additional 9,166,952 shares during the last quarter. Bank of Montreal Can grew its position in Hudbay Minerals by 23.1% in the third quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock valued at $71,308,000 after acquiring an additional 1,441,991 shares during the last quarter. Verition Fund Management LLC grew its position in Hudbay Minerals by 106.8% in the third quarter. Verition Fund Management LLC now owns 2,585,032 shares of the mining company’s stock valued at $23,756,000 after acquiring an additional 1,334,969 shares during the last quarter. Polar Asset Management Partners Inc. grew its position in Hudbay Minerals by 1,310.6% in the third quarter. Polar Asset Management Partners Inc. now owns 764,400 shares of the mining company’s stock valued at $7,026,000 after acquiring an additional 710,212 shares during the last quarter. Finally, Temasek Holdings Private Ltd grew its position in Hudbay Minerals by 40.6% in the third quarter. Temasek Holdings Private Ltd now owns 1,803,771 shares of the mining company’s stock valued at $16,577,000 after acquiring an additional 520,544 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Stock Performance

Shares of HBM stock opened at $8.15 on Friday. The business’s 50-day moving average price is $8.13 and its 200-day moving average price is $8.49. Hudbay Minerals Inc. has a 12 month low of $6.42 and a 12 month high of $10.49. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 45.25 and a beta of 1.72. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 EPS 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 analyst estimates of $588.28 million. During the same period in the previous year, the business posted $0.20 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Equities research analysts forecast that Hudbay Minerals Inc. will post 0.79 EPS for the current year.

Hudbay Minerals Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 4th were paid a $0.007 dividend. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. This represents a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 4th. Hudbay Minerals’s payout ratio is currently 5.56%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $11.50.

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.