BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Holdings in HudBay Minerals Inc $HBM

Key Points

• British Columbia Investment Management Corp sold 1,050,302 shares of HudBay Minerals Inc, reducing its stake by 82.5%, leaving it with only 222,393 shares valued at approximately $1.7 million.
• HudBay Minerals recently increased its semi-annual dividend to $0.0073 per share, reflecting a yield of 10.0%, up from the previous $0.01.
• The company's quarterly earnings report showed an EPS of $0.19, beating expectations, with a year-over-year revenue increase of 26.1%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 82.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 222,393 shares of the mining company's stock after selling 1,050,302 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.06% of HudBay Minerals worth $1,686,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of HBM. Geode Capital Management LLC raised its position in HudBay Minerals by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 190,940 shares of the mining company's stock worth $1,565,000 after buying an additional 6,973 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of HudBay Minerals during the 4th quarter worth $183,000. Barclays PLC boosted its position in shares of HudBay Minerals by 7.9% during the 4th quarter. Barclays PLC now owns 93,286 shares of the mining company's stock worth $756,000 after purchasing an additional 6,811 shares in the last quarter. Mariner LLC boosted its position in shares of HudBay Minerals by 38.7% during the 4th quarter. Mariner LLC now owns 77,217 shares of the mining company's stock worth $625,000 after purchasing an additional 21,530 shares in the last quarter. Finally, Guggenheim Capital LLC purchased a new stake in shares of HudBay Minerals during the 4th quarter worth $186,000. Hedge funds and other institutional investors own 57.82% of the company's stock.

HudBay Minerals Trading Up 1.8%

Shares of NYSE:HBM traded up $0.22 during midday trading on Monday, reaching $12.02. The company's stock had a trading volume of 4,350,127 shares, compared to its average volume of 6,833,131. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 0.29 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. HudBay Minerals Inc has a 1 year low of $5.95 and a 1 year high of $12.10. The business has a 50 day moving average price of $10.44 and a 200 day moving average price of $8.83.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings data on Wednesday, August 13th. The mining company reported $0.19 EPS for the quarter, beating 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%.The company's quarterly revenue was up 26.1% on a year-over-year basis. Research analysts forecast that HudBay Minerals Inc will post 0.79 EPS for the current year.

HudBay Minerals Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, September 19th. Investors of record on Tuesday, September 2nd will be given a $0.0073 dividend. This is an increase from HudBay Minerals's previous semi-annual dividend of $0.01. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a dividend yield of 10.0%. HudBay Minerals's dividend payout ratio is 1.37%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HBM. Royal Bank Of Canada restated an "outperform" rating on shares of HudBay Minerals in a research report on Thursday, August 14th. National Bankshares restated an "outperform" rating on shares of HudBay Minerals in a research report on Thursday, August 14th. CIBC restated an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. Veritas upgraded HudBay Minerals to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Wall Street Zen upgraded HudBay Minerals from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 25th. Two research analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to MarketBeat.com, HudBay Minerals presently has an average rating of "Buy".

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.