Algert Global LLC Acquires Shares of 10,551 Hudbay Minerals Inc. (NYSE:HBM)

Algert Global LLC acquired a new stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the 4th quarter, HoldingsChannel reports. The fund acquired 10,551 shares of the mining company’s stock, valued at approximately $86,000.

Other hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its holdings in 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 acquiring an additional 3,062 shares during the period. Plato Investment Management Ltd purchased a new position in shares of Hudbay Minerals during the 4th quarter valued at approximately $95,000. Hsbc Holdings PLC acquired a new position in shares of Hudbay Minerals in the 4th quarter valued at $97,000. Advisory Services Network LLC purchased a new stake in Hudbay Minerals during the fourth quarter worth $101,000. Finally, Smith Moore & CO. grew its position in Hudbay Minerals by 28.4% during the fourth quarter. Smith Moore & CO. now owns 13,716 shares of the mining company’s stock valued at $111,000 after buying an additional 3,032 shares during the period. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Stock Performance

NYSE:HBM opened at $8.67 on Wednesday. The company has a fifty day moving average of $7.40 and a two-hundred day moving average of $8.16. 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 $3.42 billion, a PE ratio of 48.17 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.

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

Hudbay Minerals Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Desjardins started coverage on shares of Hudbay Minerals in a research report on Friday, April 4th. They issued a “buy” rating for the company. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research note on Wednesday, March 19th. BMO Capital Markets began coverage on Hudbay Minerals in a research report on Wednesday, April 16th. They set an “outperform” rating on the stock. Finally, StockNews.com raised Hudbay Minerals from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Three research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Hudbay Minerals presently has a consensus rating of “Strong Buy” and a consensus target price 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.