MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 1,822,601 Shares of Hudbay Minerals Inc. (NYSE:HBM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 14.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,662,499 shares of the mining company’s stock after purchasing an additional 1,822,601 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 3.71% of Hudbay Minerals worth $118,874,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HBM. Norges Bank bought a new position in shares of Hudbay Minerals in the fourth quarter worth $50,260,000. Dimensional Fund Advisors LP increased its holdings in shares of Hudbay Minerals by 86.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company’s stock worth $74,105,000 after purchasing an additional 4,253,400 shares during the period. Price T Rowe Associates Inc. MD bought a new position in shares of Hudbay Minerals in the fourth quarter worth $17,657,000. American Century Companies Inc. increased its stake in Hudbay Minerals by 102.4% in the fourth quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company’s stock valued at $34,684,000 after acquiring an additional 2,163,000 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Hudbay Minerals by 111.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,777,571 shares of the mining company’s stock valued at $30,602,000 after acquiring an additional 1,994,431 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Stock Up 0.9%

Shares of NYSE:HBM opened at $7.69 on Monday. The stock’s 50-day moving average price is $7.35 and its 200-day moving average price is $8.17. Hudbay Minerals Inc. has a 12-month low of $5.95 and a 12-month high of $10.49. The stock has a market capitalization of $3.04 billion, a P/E ratio of 42.72 and a beta of 1.56. 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 (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Monday, May 12th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.09. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. On average, equities analysts anticipate that Hudbay Minerals Inc. will post 0.79 earnings per share for the current year.

Hudbay Minerals Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a research note 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. BMO Capital Markets assumed coverage on Hudbay Minerals in a research note on Wednesday, April 16th. They issued an “outperform” rating on the stock. Finally, Desjardins assumed coverage on Hudbay Minerals in a research note on Friday, April 4th. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Hudbay Minerals has an average rating of “Buy” and an average target price of $14.00.

About Hudbay Minerals

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.