TD Asset Management Inc. Decreases Holdings in Hudbay Minerals Inc. (NYSE:HBM)

TD Asset Management Inc. trimmed its position in shares of Hudbay Minerals Inc. (NYSE:HBMGet Rating) (TSE:HBM) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,566,135 shares of the mining company’s stock after selling 4,433 shares during the period. TD Asset Management Inc. owned about 0.60% of Hudbay Minerals worth $11,357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Allianz Asset Management GmbH raised its holdings in shares of Hudbay Minerals by 128.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 3,740,965 shares of the mining company’s stock valued at $23,328,000 after buying an additional 2,102,057 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Hudbay Minerals by 0.6% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 960,499 shares of the mining company’s stock worth $5,984,000 after purchasing an additional 5,746 shares during the period. Bank of America Corp DE increased its stake in Hudbay Minerals by 33.5% in the 4th quarter. Bank of America Corp DE now owns 893,755 shares of the mining company’s stock worth $6,480,000 after purchasing an additional 224,078 shares during the period. Lumbard & Kellner LLC purchased a new position in Hudbay Minerals in the 3rd quarter worth approximately $4,459,000. Finally, Public Sector Pension Investment Board increased its stake in Hudbay Minerals by 3.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 575,388 shares of the mining company’s stock worth $3,588,000 after purchasing an additional 17,120 shares during the period. 67.11% of the stock is currently owned by institutional investors.

NYSE HBM opened at $5.78 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.92 and a current ratio of 1.35. Hudbay Minerals Inc. has a twelve month low of $4.96 and a twelve month high of $8.75. The stock’s 50 day moving average is $7.09 and its 200 day moving average is $7.26.

Hudbay Minerals (NYSE:HBMGet Rating) (TSE:HBM) last released its quarterly earnings results on Wednesday, February 23rd. The mining company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. Hudbay Minerals had a positive return on equity of 5.27% and a negative net margin of 7.69%. The company had revenue of $425.17 million for the quarter, compared to analyst estimates of $440.81 million. During the same period in the previous year, the company posted ($0.06) earnings per share. The firm’s revenue was up 31.9% on a year-over-year basis. As a group, equities analysts predict that Hudbay Minerals Inc. will post 0.71 EPS for the current year.

The business also recently announced a Semi-Annual dividend, which was paid on Friday, March 25th. Shareholders of record on Tuesday, March 8th were issued a $0.008 dividend. This represents a yield of 0.2%. This is an increase from Hudbay Minerals’s previous Semi-Annual dividend of $0.01. The ex-dividend date was Monday, March 7th. Hudbay Minerals’s payout ratio is -4.35%.

A number of equities analysts have commented on HBM shares. Royal Bank of Canada decreased their price target on Hudbay Minerals from C$14.00 to C$12.00 in a research note on Wednesday, May 11th. Zacks Investment Research lowered Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Friday, January 28th. National Bank Financial cut their price objective on Hudbay Minerals from C$12.50 to C$11.50 in a research report on Wednesday, May 11th. Raymond James lifted their price objective on Hudbay Minerals from C$13.00 to C$14.00 in a research report on Wednesday, April 20th. Finally, Scotiabank cut their price objective on Hudbay Minerals from C$12.50 to C$12.00 in a research report on Wednesday, May 11th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Hudbay Minerals presently has a consensus rating of “Buy” and a consensus price target of $13.16.

About Hudbay Minerals (Get Rating)

Hudbay Minerals Inc, a diversified 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; silver/gold doré; molybdenum concentrates; and zinc metals.

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

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