Ausbil Investment Management Ltd Boosts Stock Position in HudBay Minerals Inc $HBM

Key Points

• Ausbil Investment Management Ltd increased its stake in HudBay Minerals by 71.4%, owning a total of 60,000 shares valued at $635,000 after purchasing an additional 25,000 shares in the second quarter.
• HudBay Minerals recently reported a quarterly earnings per share of $0.19, exceeding the consensus estimate of $0.11, with revenues at $536.4 million for the quarter.
• The company announced a dividend increase, paying $0.0073 on September 19th, up from the previous $0.01, representing a 17.0% yield.

Ausbil Investment Management Ltd lifted its holdings in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 71.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,000 shares of the mining company's stock after purchasing an additional 25,000 shares during the quarter. Ausbil Investment Management Ltd's holdings in HudBay Minerals were worth $635,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. boosted its stake in HudBay Minerals by 64.6% during the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock worth $29,000 after buying an additional 1,481 shares during the period. Pacifica Partners Inc. boosted its stake in HudBay Minerals by 6.7% during the second quarter. Pacifica Partners Inc. now owns 25,921 shares of the mining company's stock worth $272,000 after buying an additional 1,625 shares during the period. Federated Hermes Inc. boosted its stake in HudBay Minerals by 1.4% during the first quarter. Federated Hermes Inc. now owns 126,836 shares of the mining company's stock worth $963,000 after buying an additional 1,794 shares during the period. Ballentine Partners LLC boosted its stake in HudBay Minerals by 10.3% during the second quarter. Ballentine Partners LLC now owns 29,757 shares of the mining company's stock worth $316,000 after buying an additional 2,768 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in HudBay Minerals by 131.6% during the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock worth $50,000 after buying an additional 3,733 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on HBM. Raymond James Financial raised shares of HudBay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. Royal Bank Of Canada restated an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. National Bankshares restated an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. The Goldman Sachs Group started coverage on shares of HudBay Minerals in a report on Monday, September 8th. They issued a "buy" rating for the company. Finally, Veritas upgraded shares of HudBay Minerals to a "strong-buy" rating in a report on Monday, July 7th. Two research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy".

HudBay Minerals Price Performance

Shares of HBM stock opened at $14.16 on Friday. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $14.42. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 0.34 and a beta of 1.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.03. The stock's 50-day simple moving average is $11.56 and its 200-day simple moving average is $9.62.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its quarterly 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 for the quarter, compared to analyst estimates of $558.21 million. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The business's revenue was up 26.1% compared to the same quarter last year. As a group, equities analysts forecast that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, September 19th. Investors of record on Tuesday, September 2nd were given a $0.0073 dividend. 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 was Tuesday, September 2nd. HudBay Minerals's payout ratio is currently 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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