Donald Smith & CO. Inc. Grows Stock Position in Hudbay Minerals Inc. (NYSE:HBM)

Donald Smith & CO. Inc. lifted its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 475.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,602,687 shares of the mining company’s stock after acquiring an additional 3,802,687 shares during the period. Donald Smith & CO. Inc. owned approximately 1.31% of Hudbay Minerals worth $25,407,000 at the end of the most recent reporting period.

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

Hudbay Minerals Stock Up 2.2 %

Shares of HBM stock traded up $0.19 during midday trading on Monday, reaching $8.82. 3,353,397 shares of the stock were exchanged, compared to its average volume of 2,323,201. Hudbay Minerals Inc. has a 1 year low of $3.94 and a 1 year high of $8.85. The firm has a market cap of $3.10 billion, a PE ratio of 43.85, a price-to-earnings-growth ratio of 0.95 and a beta of 1.95. The company’s 50 day moving average is $6.85 and its two-hundred day moving average is $5.64. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61.

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

Hudbay Minerals Cuts Dividend

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

Wall Street Analyst Weigh In

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

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.