Canada Pension Plan Investment Board Decreases Holdings in HudBay Minerals Inc $HBM

Key Points

• The Canada Pension Plan Investment Board reduced its holdings in HudBay Minerals Inc by 27.5%, selling 393,500 shares, and now owns approximately 0.26% of the company worth $7.87 million.
• HudBay Minerals recently reported a quarterly earnings per share (EPS) of $0.19, exceeding analyst expectations, although its revenue of $536.40 million fell short of estimates.
• The company has declared a semi-annual dividend of $0.0073 per share, down from a previous dividend of $0.01, reflecting a current yield of 17.0%.

Canada Pension Plan Investment Board decreased its holdings in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 27.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,038,400 shares of the mining company's stock after selling 393,500 shares during the period. Canada Pension Plan Investment Board owned about 0.26% of HudBay Minerals worth $7,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of HBM. Carrhae Capital LLP bought a new stake in shares of HudBay Minerals during the 1st quarter valued at $14,244,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of HudBay Minerals by 14.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,662,499 shares of the mining company's stock valued at $118,874,000 after acquiring an additional 1,822,601 shares during the period. Bank of America Corp DE grew its position 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 valued at $19,515,000 after acquiring an additional 1,756,930 shares during the period. Encompass Capital Advisors LLC grew its position in shares of HudBay Minerals by 99.1% during the 4th quarter. Encompass Capital Advisors LLC now owns 3,484,227 shares of the mining company's stock valued at $28,246,000 after acquiring an additional 1,734,255 shares during the period. Finally, Boston Partners grew its position in shares of HudBay Minerals by 386.1% during the 1st quarter. Boston Partners now owns 1,861,812 shares of the mining company's stock valued at $14,131,000 after acquiring an additional 1,478,827 shares during the period. Institutional investors own 57.82% of the company's stock.

HudBay Minerals Price Performance

HBM stock traded up $0.33 during mid-day trading on Friday, hitting $12.73. The company had a trading volume of 5,105,666 shares, compared to its average volume of 6,846,108. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 0.31 and a beta of 1.51. HudBay Minerals Inc has a 12-month low of $5.95 and a 12-month high of $12.81. The company has a quick ratio of 0.86, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $10.62 and a 200 day moving average price of $8.94.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings results on Wednesday, August 13th. The mining company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.11 by $0.08. The business had revenue of $536.40 million for the quarter, compared to analysts' expectations of $558.21 million. HudBay Minerals had a net margin of 13.13% and a return on equity of 10.73%. The business's revenue was up 26.1% on a year-over-year basis. On average, research analysts anticipate 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 will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 2nd will be paid a $0.0073 dividend. This represents a yield of 17.0%. The ex-dividend date is Tuesday, September 2nd. This is an increase from HudBay Minerals's previous semi-annual dividend of $0.01. HudBay Minerals's dividend payout ratio is presently 1.37%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HBM. Royal Bank Of Canada reissued an "outperform" rating on shares of HudBay Minerals in a research report on Thursday, August 14th. Wall Street Zen cut shares of HudBay Minerals from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, September 2nd. Veritas upgraded shares of HudBay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. CIBC restated an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, July 15th. Finally, Scotiabank restated an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. Based on data from MarketBeat.com, HudBay Minerals currently has a consensus rating of "Buy".

HudBay Minerals Company 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.