Encompass Capital Advisors LLC Has $31.36 Million Stock Holdings in HudBay Minerals Inc $HBM

Key Points

• Encompass Capital Advisors LLC increased its stake in HudBay Minerals by 18.6%, owning over 4.1 million shares valued at $31.36 million by the end of the first quarter.
• HudBay Minerals recently reported earnings per share of $0.19, exceeding analysts' expectations, while its revenue grew by 26.1% year-over-year.
• The company also announced a semi-annual dividend of $0.0073, which represents a yield of 17.0%, reflecting an increase from its previous dividend payout.

Encompass Capital Advisors LLC lifted its holdings in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 18.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,132,062 shares of the mining company's stock after purchasing an additional 647,835 shares during the period. Encompass Capital Advisors LLC owned about 1.05% of HudBay Minerals worth $31,361,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its position in shares of HudBay Minerals by 9,877.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock worth $25,000 after purchasing an additional 3,062 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in HudBay Minerals by 64.6% in the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock valued at $29,000 after acquiring an additional 1,481 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of HudBay Minerals during the 1st quarter worth approximately $33,000. Algert Global LLC acquired a new position in HudBay Minerals in the 4th quarter valued at $86,000. Finally, Headlands Technologies LLC purchased a new stake in HudBay Minerals in the 1st quarter valued at $92,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. National Bankshares reissued an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. CIBC reaffirmed an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Royal Bank Of Canada reiterated an "outperform" rating on shares of HudBay Minerals in a research report on Thursday, August 14th. Veritas raised HudBay Minerals to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Wall Street Zen lowered shares of HudBay Minerals from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

HudBay Minerals Stock Performance

HudBay Minerals stock traded down $0.17 during trading hours on Tuesday, hitting $13.03. The stock had a trading volume of 4,026,814 shares, compared to its average volume of 7,279,745. HudBay Minerals Inc has a fifty-two week low of $5.95 and a fifty-two week high of $13.55. The company has a market cap of $5.15 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 0.31 and a beta of 1.51. The company has a 50-day moving average of $10.67 and a two-hundred day moving average of $8.99. 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 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. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The firm had revenue of $536.40 million for the quarter, compared to analyst estimates of $558.21 million. The firm's revenue was up 26.1% compared to the same quarter last year. On average, equities research analysts anticipate that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

HudBay Minerals Increases Dividend

The firm also recently disclosed 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 is a positive change from HudBay Minerals's previous semi-annual dividend of $0.01. This represents a yield of 17.0%. The ex-dividend date is Tuesday, September 2nd. HudBay Minerals's dividend payout ratio is currently 1.37%.

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.