Cinctive Capital Management LP Acquires Shares of 295,947 HudBay Minerals Inc $HBM

Key Points

• Cinctive Capital Management LP acquired 295,947 shares of HudBay Minerals, valued at approximately $2.25 million, increasing its stake to 0.07% in the company.
• HudBay Minerals reported earnings of $0.19 EPS for the last quarter, surpassing analyst expectations of $0.11, and posted a 26.1% year-over-year revenue increase.
• The company announced a semi-annual dividend of $0.0073, representing a yield of 17.0%, which marks an increase from their previous dividend of $0.01.

Cinctive Capital Management LP acquired a new position in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 295,947 shares of the mining company's stock, valued at approximately $2,246,000. Cinctive Capital Management LP owned approximately 0.07% of HudBay Minerals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of HBM. Vanguard Group Inc. raised its stake in shares of HudBay Minerals by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 15,398,817 shares of the mining company's stock valued at $116,738,000 after buying an additional 131,012 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in HudBay Minerals by 14.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,662,499 shares of the mining company's stock valued at $118,874,000 after buying an additional 1,822,601 shares in the last quarter. L1 Capital Pty Ltd increased its position in shares of HudBay Minerals by 44.1% during the first quarter. L1 Capital Pty Ltd now owns 14,423,384 shares of the mining company's stock worth $109,365,000 after purchasing an additional 4,410,778 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of HudBay Minerals by 31.3% during the first quarter. Donald Smith & CO. Inc. now owns 5,549,372 shares of the mining company's stock worth $42,120,000 after buying an additional 1,323,745 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of HudBay Minerals by 20.8% during the first quarter. Mackenzie Financial Corp now owns 4,927,081 shares of the mining company's stock worth $37,353,000 after buying an additional 847,934 shares during the last quarter. Institutional investors own 57.82% of the company's stock.

HudBay Minerals Trading Up 2.8%

Shares of HBM stock traded up $0.37 on Wednesday, reaching $13.38. 1,404,349 shares of the stock were exchanged, compared to its average volume of 7,255,085. The stock has a market cap of $5.29 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 0.32 and a beta of 1.51. The company has a quick ratio of 0.86, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $10.72 and a two-hundred day moving average of $9.02. HudBay Minerals Inc has a 1-year low of $5.95 and a 1-year high of $13.55.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings results on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.08. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The firm had revenue of $536.40 million during the quarter, compared to the consensus estimate of $558.21 million. HudBay Minerals's quarterly revenue was up 26.1% on a year-over-year basis. On average, research analysts anticipate that HudBay Minerals Inc will post 0.79 EPS for the current year.

HudBay Minerals Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, September 19th. Investors of record on Tuesday, September 2nd will be issued a $0.0073 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a yield of 17.0%. This is an increase from HudBay Minerals's previous semi-annual dividend of $0.01. HudBay Minerals's payout ratio is currently 1.37%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HBM. Royal Bank Of Canada reissued an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. Raymond James Financial raised HudBay Minerals to a "moderate buy" rating in a report on Monday, June 30th. CIBC reissued an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, July 15th. Scotiabank reissued an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, May 13th. Finally, Veritas upgraded HudBay Minerals to a "strong-buy" rating in a research report on Monday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy".

HudBay Minerals Company Profile

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.