Letko Brosseau & Associates Inc. increased its holdings in shares of Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,465,873 shares of the mining company’s stock after buying an additional 245,440 shares during the quarter. Hudbay Minerals accounts for approximately 1.9% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 19th biggest position. Letko Brosseau & Associates Inc. owned approximately 13.57% of Hudbay Minerals worth $192,426,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Two Sigma Investments LP purchased a new position in shares of Hudbay Minerals during the fourth quarter valued at $126,000. Campbell & CO Investment Adviser LLC purchased a new position in Hudbay Minerals in the second quarter valued at about $162,000. Macquarie Group Ltd. purchased a new position in Hudbay Minerals in the fourth quarter valued at about $148,000. Jane Street Group LLC purchased a new position in Hudbay Minerals in the fourth quarter valued at about $148,000. Finally, ARP Americas LP purchased a new position in Hudbay Minerals in the second quarter valued at about $225,000. Institutional investors and hedge funds own 63.41% of the company’s stock.

Hudbay Minerals stock traded up $0.09 during mid-day trading on Thursday, hitting $3.26. 69,666 shares of the company’s stock were exchanged, compared to its average volume of 1,216,355. The firm has a market capitalization of $888.33 million, a price-to-earnings ratio of 8.35, a P/E/G ratio of 9.12 and a beta of 2.89. Hudbay Minerals Inc has a fifty-two week low of $3.17 and a fifty-two week high of $7.83. The company has a quick ratio of 2.14, a current ratio of 2.64 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average price of $4.71.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Thursday, August 8th. The mining company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.10). Hudbay Minerals had a positive return on equity of 1.50% and a negative net margin of 3.61%. The business had revenue of $329.40 million for the quarter, compared to analyst estimates of $310.63 million. During the same period in the previous year, the business posted $0.09 EPS. The business’s quarterly revenue was down 11.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Hudbay Minerals Inc will post 0.06 earnings per share for the current fiscal year.

The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be given a $0.008 dividend. The ex-dividend date of this dividend is Thursday, September 5th. Hudbay Minerals’s payout ratio is 5.13%.

A number of research analysts have commented on the company. Credit Suisse Group lowered their target price on Hudbay Minerals from $11.50 to $8.75 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Barclays restated an “average” rating and issued a $8.00 target price on shares of Hudbay Minerals in a research note on Sunday, August 4th. Zacks Investment Research downgraded Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Hudbay Minerals in a research report on Wednesday, May 8th. Finally, CIBC reaffirmed a “hold” rating and issued a $9.00 price target on shares of Hudbay Minerals in a research report on Sunday, May 12th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Hudbay Minerals presently has a consensus rating of “Hold” and a consensus price target of $8.35.

Hudbay Minerals Profile

Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.

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Institutional Ownership by Quarter for Hudbay Minerals (NYSE:HBM)

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