Assenagon Asset Management S.A. Acquires Shares of 1,449,629 HudBay Minerals Inc $HBM

Key Points

• Assenagon Asset Management S.A. acquired 1,449,629 shares of HudBay Minerals Inc for approximately $15.4 million, representing 0.37% ownership in the company.
• HudBay Minerals reported $0.19 earnings per share for the latest quarter, exceeding analyst estimates, with a revenue increase of 26.1% year-over-year.
• The company announced a semi-annual dividend of $0.0073, marking an increase from its previous dividend, and has a payout ratio of 1.37%.

Assenagon Asset Management S.A. purchased a new stake in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,449,629 shares of the mining company's stock, valued at approximately $15,381,000. Assenagon Asset Management S.A. owned 0.37% of HudBay Minerals at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of HudBay Minerals by 142.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 100,303 shares of the mining company's stock valued at $761,000 after acquiring an additional 58,999 shares during the period. Millennium Management LLC lifted its position in shares of HudBay Minerals by 298.5% during the 1st quarter. Millennium Management LLC now owns 6,115,053 shares of the mining company's stock valued at $46,411,000 after acquiring an additional 4,580,718 shares during the period. Yaupon Capital Management LP lifted its position in HudBay Minerals by 21.9% during the first quarter. Yaupon Capital Management LP now owns 1,777,347 shares of the mining company's stock worth $13,490,000 after purchasing an additional 318,991 shares during the period. Anson Funds Management LP bought a new stake in HudBay Minerals during the first quarter worth about $759,000. Finally, Cetera Investment Advisers lifted its position in HudBay Minerals by 24.3% during the fourth 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 period. 57.82% of the stock is currently owned by institutional investors.

HudBay Minerals Stock Performance

HBM stock opened at $14.22 on Tuesday. The firm has a market cap of $5.63 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 0.33 and a beta of 1.51. The stock has a 50-day moving average price of $11.25 and a 200-day moving average price of $9.44. The company has a current ratio of 1.03, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. HudBay Minerals Inc has a 1-year low of $5.95 and a 1-year high of $14.23.

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

HudBay Minerals Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HBM shares. National Bankshares reaffirmed an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. Royal Bank Of Canada reissued an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Raymond James Financial upgraded HudBay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. Veritas upgraded HudBay Minerals to a "strong-buy" rating in a research report on Monday, July 7th. Finally, The Goldman Sachs Group started coverage on HudBay Minerals in a research report on Monday, September 8th. They issued a "buy" rating for the company. Two analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy".

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.

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