Federated Hermes Inc. Boosts Stock Position in Hudbay Minerals Inc. (NYSE:HBM)

Federated Hermes Inc. lifted its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 3.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,042 shares of the mining company’s stock after purchasing an additional 4,173 shares during the quarter. Federated Hermes Inc.’s holdings in Hudbay Minerals were worth $1,013,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Pictet Asset Management Holding SA raised its stake in Hudbay Minerals by 2.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company’s stock worth $538,000 after acquiring an additional 1,278 shares during the last quarter. Sprott Inc. boosted its stake in shares of Hudbay Minerals by 3.5% during the 4th quarter. Sprott Inc. now owns 63,662 shares of the mining company’s stock worth $516,000 after acquiring an additional 2,162 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Hudbay Minerals by 3.9% in the fourth quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company’s stock valued at $589,000 after purchasing an additional 2,740 shares during the period. Smith Moore & CO. increased its holdings in Hudbay Minerals by 28.4% in the 4th quarter. Smith Moore & CO. now owns 13,716 shares of the mining company’s stock worth $111,000 after acquiring an additional 3,032 shares in the last quarter. Finally, Oliver Luxxe Assets LLC increased its stake in shares of Hudbay Minerals by 2.5% during the fourth quarter. Oliver Luxxe Assets LLC now owns 132,498 shares of the mining company’s stock worth $1,073,000 after purchasing an additional 3,282 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Trading Up 2.0 %

Shares of NYSE:HBM opened at $7.05 on Wednesday. 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 Inc. has a 52 week low of $5.95 and a 52 week high of $10.49. The company has a market cap of $2.78 billion, a PE ratio of 39.14 and a beta of 1.62. The company’s 50 day moving average is $7.62 and its two-hundred day moving average is $8.42.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The firm had revenue of $584.90 million for the quarter, compared to analyst estimates of $588.28 million. During the same period last year, the firm earned $0.20 EPS. The company’s quarterly revenue was down 2.9% on a year-over-year basis. Equities analysts predict that Hudbay Minerals Inc. will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

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

Analysts Set New Price Targets

HBM has been the topic of a number of research reports. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a report on Wednesday, March 19th. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Desjardins started coverage on shares of Hudbay Minerals in a report on Friday, April 4th. They issued a “buy” rating on the stock. Three 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 has an average rating of “Buy” and an average price target of $14.00.

Hudbay Minerals Company 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.