American Century Companies Inc. Buys 2,163,000 Shares of Hudbay Minerals Inc. (NYSE:HBM)

American Century Companies Inc. grew its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 102.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,275,895 shares of the mining company’s stock after acquiring an additional 2,163,000 shares during the period. American Century Companies Inc.’s holdings in Hudbay Minerals were worth $34,684,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Plato Investment Management Ltd bought a new position in Hudbay Minerals in the fourth quarter worth approximately $95,000. First Affirmative Financial Network grew its position in shares of Hudbay Minerals by 39.2% during the 4th quarter. First Affirmative Financial Network now owns 15,563 shares of the mining company’s stock worth $126,000 after buying an additional 4,386 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Hudbay Minerals during the 4th quarter worth $133,000. Ballentine Partners LLC increased its stake in shares of Hudbay Minerals by 32.1% during the fourth quarter. Ballentine Partners LLC now owns 20,820 shares of the mining company’s stock valued at $169,000 after buying an additional 5,064 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of Hudbay Minerals in the third quarter valued at about $178,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Trading Down 3.9 %

Shares of NYSE HBM opened at $7.69 on Friday. Hudbay Minerals Inc. has a 1-year low of $6.42 and a 1-year high of $10.49. The business has a fifty day moving average price of $8.07 and a 200 day moving average price of $8.52. The stock has a market capitalization of $3.04 billion, a P/E ratio of 42.70 and a beta of 1.72. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The firm had revenue of $584.90 million during the quarter, compared to the consensus estimate of $588.28 million. During the same quarter in the prior year, the business posted $0.20 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Equities research analysts expect that Hudbay Minerals Inc. will post 0.79 EPS for the current fiscal year.

Hudbay Minerals Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research report on Wednesday, March 19th. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $11.50.

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.