Anson Funds Management LP Takes $759,000 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 acquired a new position in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 100,000 shares of the mining company's stock, valued at approximately $759,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings 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 valued at $25,000 after buying an additional 3,062 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in HudBay Minerals by 64.6% in the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock valued at $29,000 after acquiring an additional 1,481 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in HudBay Minerals in the first quarter worth approximately $33,000. Jones Financial Companies Lllp increased its stake in shares of HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock worth $50,000 after purchasing an additional 3,733 shares during the last quarter. Finally, Algert Global LLC acquired a new position in shares of HudBay Minerals during the 4th quarter worth $86,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HBM has been the topic of several recent research reports. Raymond James Financial upgraded HudBay Minerals to a "moderate buy" rating in a report on Monday, June 30th. National Bankshares restated an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. Wall Street Zen upgraded HudBay Minerals from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Veritas upgraded shares of HudBay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. Finally, The Goldman Sachs Group began coverage on shares of HudBay Minerals in a research note on Monday. They issued a "buy" rating on the stock. Two research 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 presently has a consensus rating of "Buy".

HudBay Minerals Stock Up 3.6%

NYSE HBM opened at $13.48 on Thursday. HudBay Minerals Inc has a twelve month low of $5.95 and a twelve month high of $13.55. The stock has a market cap of $5.33 billion, a PE ratio of 18.46, a PEG ratio of 0.31 and a beta of 1.51. The firm has a 50-day simple moving average of $10.77 and a 200 day simple moving average of $9.05. 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 posted its quarterly earnings results on Wednesday, August 13th. The mining company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.11 by $0.08. The firm had revenue of $536.40 million during the quarter, compared to analysts' expectations of $558.21 million. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The company's revenue for the quarter was up 26.1% on a year-over-year basis. On average, research analysts forecast that HudBay Minerals Inc will post 0.79 EPS for the current year.

HudBay Minerals Increases Dividend

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

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