Anson Funds Management LP Purchases New Position in HudBay Minerals Inc $HBM

Key Points

• Anson Funds Management LP has taken a new position in HudBay Minerals, acquiring 100,000 shares valued at approximately $759,000 during the first quarter.
• HudBay Minerals recently experienced multiple upgrades from analysts, with a consensus rating of "Buy" and some analysts categorizing it as a "strong buy."
• The company declared a semi-annual dividend of $0.0073 per share, marking an increase from the previous dividend and representing a yield of 17.0%.

Anson Funds Management LP purchased a new position in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 100,000 shares of the mining company's stock, valued at approximately $759,000.

Several other hedge funds also recently modified their holdings of HBM. Tower Research Capital LLC TRC increased its stake in shares of HudBay Minerals by 9,877.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock worth $25,000 after purchasing an additional 3,062 shares during the last quarter. Algert Global LLC acquired a new position in shares of HudBay Minerals during the 4th quarter worth $86,000. Bank of America Corp DE increased its stake in shares of HudBay Minerals by 269.3% during the 4th quarter. Bank of America Corp DE now owns 2,409,267 shares of the mining company's stock worth $19,515,000 after purchasing an additional 1,756,930 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of HudBay Minerals by 24.3% during the 4th quarter. Cetera Investment Advisers now owns 19,224 shares of the mining company's stock worth $156,000 after purchasing an additional 3,760 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in shares of HudBay Minerals by 90.5% during the 4th quarter. Deutsche Bank AG now owns 26,582 shares of the mining company's stock worth $215,000 after purchasing an additional 12,630 shares during the last quarter. Institutional investors and hedge funds own 57.82% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HBM shares. Royal Bank Of Canada restated an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Veritas upgraded shares of HudBay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. CIBC reiterated an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, July 15th. Wall Street Zen upgraded shares of HudBay Minerals from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, September 10th. Finally, National Bankshares reiterated an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy".

HudBay Minerals Price Performance

Shares of NYSE:HBM traded down $0.23 during midday trading on Tuesday, reaching $13.67. 2,382,339 shares of the company's stock were exchanged, compared to its average volume of 7,204,729. The company's 50 day simple moving average is $10.94 and its two-hundred day simple moving average is $9.21. The firm has a market capitalization of $5.41 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 0.33 and a beta of 1.51. HudBay Minerals Inc has a 12 month low of $5.95 and a 12 month high of $13.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.03.

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

HudBay Minerals Increases Dividend

The company 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 dividend of $0.0073 per share. The ex-dividend date of this dividend 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 1.37%.

HudBay Minerals 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.