Intact Investment Management Inc. Purchases 201,800 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Intact Investment Management Inc. increased its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 23.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,074,300 shares of the mining company’s stock after acquiring an additional 201,800 shares during the period. Intact Investment Management Inc. owned approximately 0.31% of Hudbay Minerals worth $5,911,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Nova Scotia raised its position in shares of Hudbay Minerals by 19.1% in the third quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock worth $121,000 after buying an additional 3,979 shares in the last quarter. Shell Asset Management Co. increased its stake in Hudbay Minerals by 38.6% in the 3rd quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company’s stock worth $128,000 after acquiring an additional 7,300 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Hudbay Minerals in the 3rd quarter valued at about $195,000. Vanguard Personalized Indexing Management LLC boosted its position in shares of Hudbay Minerals by 18.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 55,519 shares of the mining company’s stock valued at $270,000 after acquiring an additional 8,563 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Hudbay Minerals by 7.1% during the third quarter. Barclays PLC now owns 63,154 shares of the mining company’s stock worth $308,000 after purchasing an additional 4,169 shares in the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on HBM. Stifel Nicolaus assumed coverage on shares of Hudbay Minerals in a research report on Tuesday, March 26th. They set a “buy” rating for the company. Raymond James upped their target price on shares of Hudbay Minerals from $9.00 to $10.50 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. Finally, Bank of America upgraded Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Tuesday, April 9th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Hudbay Minerals currently has an average rating of “Buy” and an average price target of $9.75.

Hudbay Minerals Trading Up 6.3 %

Shares of HBM stock traded up $0.51 during mid-day trading on Friday, reaching $8.63. The stock had a trading volume of 5,531,443 shares, compared to its average volume of 2,840,807. Hudbay Minerals Inc. has a 52-week low of $3.94 and a 52-week high of $8.65. The firm has a market capitalization of $3.03 billion, a PE ratio of 43.15, a price-to-earnings-growth ratio of 0.92 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 stock’s 50-day moving average price is $6.85 and its two-hundred day moving average price is $5.63.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The company had revenue of $602.20 million during the quarter, compared to the consensus estimate of $552.74 million. During the same quarter in the prior year, the company earned $0.01 earnings per share. The firm’s revenue for the quarter was up 87.5% on a year-over-year basis. Equities analysts expect that Hudbay Minerals Inc. will post 0.39 earnings per share for the current fiscal year.

Hudbay Minerals Cuts Dividend

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

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.