Moore Capital Management LP Takes Position in Hudbay Minerals Inc. (NYSE:HBM)

Moore Capital Management LP purchased a new stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 544,377 shares of the mining company’s stock, valued at approximately $4,409,000. Moore Capital Management LP owned approximately 0.14% of Hudbay Minerals at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC lifted its holdings in shares of Hudbay Minerals by 2,414.5% during the 3rd quarter. Barclays PLC now owns 86,475 shares of the mining company’s stock worth $795,000 after acquiring an additional 83,036 shares during the last quarter. Galibier Capital Management Ltd. lifted its holdings in shares of Hudbay Minerals by 3.7% during the 4th quarter. Galibier Capital Management Ltd. now owns 2,613,432 shares of the mining company’s stock worth $21,188,000 after acquiring an additional 92,324 shares during the last quarter. Artemis Investment Management LLP lifted its holdings in shares of Hudbay Minerals by 13.3% during the 4th quarter. Artemis Investment Management LLP now owns 2,574,709 shares of the mining company’s stock worth $20,858,000 after acquiring an additional 301,455 shares during the last quarter. Strong Tower Advisory Services lifted its holdings in shares of Hudbay Minerals by 5.5% during the 4th quarter. Strong Tower Advisory Services now owns 65,230 shares of the mining company’s stock worth $528,000 after acquiring an additional 3,388 shares during the last quarter. Finally, Ballentine Partners LLC lifted its holdings in shares of Hudbay Minerals by 32.1% during the 4th quarter. Ballentine Partners LLC now owns 20,820 shares of the mining company’s stock worth $169,000 after acquiring an additional 5,064 shares during the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HBM shares. BMO Capital Markets started coverage on shares of Hudbay Minerals in a report on Wednesday, April 16th. They set an “outperform” rating for the company. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Desjardins started coverage on shares of Hudbay Minerals in a report on Friday, April 4th. They set a “buy” rating for the company. Finally, Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a report on Wednesday, March 19th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Hudbay Minerals currently has an average rating of “Buy” and a consensus target price of $14.00.

Hudbay Minerals Stock Performance

Hudbay Minerals stock opened at $8.33 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $3.29 billion, a PE ratio of 46.25 and a beta of 1.56. The firm has a fifty day simple moving average of $7.37 and a two-hundred day simple moving average of $8.16. Hudbay Minerals Inc. has a twelve month low of $5.95 and a twelve month high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted 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 business 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 firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 earnings per share. Research analysts expect that Hudbay Minerals Inc. will post 0.79 EPS for the current year.

Hudbay Minerals Increases Dividend

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

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.