HudBay Minerals Inc $HBM Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in HudBay Minerals Inc. by 3.9%, selling 42,489 shares in the first quarter, leaving it with approximately 1,040,809 shares valued at about $7.89 million.
• HudBay Minerals recently reported a $0.19 earnings per share, exceeding expectations, while also announcing a semi-annual dividend of $0.0073 per share, indicating an attractive dividend yield of 10.0%.
• Several institutional investors have increased their holdings in HudBay Minerals, with 57.82% of the company's stock now owned by institutional investors, reflecting growing interest in the mining sector.

Charles Schwab Investment Management Inc. reduced its stake in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 3.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,040,809 shares of the mining company's stock after selling 42,489 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.26% of HudBay Minerals worth $7,890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in shares of HudBay Minerals by 86.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company's stock worth $74,105,000 after purchasing an additional 4,253,400 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of HudBay Minerals during the fourth quarter worth $17,657,000. Carrhae Capital LLP purchased a new position in shares of HudBay Minerals during the first quarter worth $14,244,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of HudBay Minerals by 14.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,662,499 shares of the mining company's stock worth $118,874,000 after purchasing an additional 1,822,601 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of HudBay Minerals by 269.3% during the fourth quarter. Bank of America Corp DE now owns 2,409,267 shares of the mining company's stock worth $19,515,000 after purchasing an additional 1,756,930 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HBM. CIBC reissued an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Veritas raised shares of HudBay Minerals to a "strong-buy" rating in a report on Monday, July 7th. Wall Street Zen raised shares of HudBay Minerals from a "buy" rating to a "strong-buy" rating in a report on Monday, August 25th. National Bankshares reaffirmed an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy".

HudBay Minerals Price Performance

Shares of NYSE HBM traded up $0.22 during trading on Friday, hitting $12.02. The company had a trading volume of 4,350,127 shares, compared to its average volume of 6,833,131. The stock has a fifty day simple moving average of $10.39 and a two-hundred day simple moving average of $8.81. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $12.10. The firm has a market capitalization 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 (NYSE:HBM - Get Free Report) TSE: HBM last announced its earnings results on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.08. HudBay Minerals had a net margin of 13.13% and a return on equity of 10.73%. The business had revenue of $536.40 million for the quarter, compared to analyst estimates of $558.21 million. The business's revenue for the quarter was up 26.1% on a year-over-year basis. On average, 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 announced a semi-annual dividend, which will be paid on Friday, September 19th. Stockholders of record on Tuesday, September 2nd will be given a $0.0073 dividend. This represents a dividend yield of 10.0%. This is a positive change from HudBay Minerals's previous semi-annual dividend of $0.01. The ex-dividend date is Tuesday, September 2nd. HudBay Minerals's dividend payout ratio (DPR) is 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.