HudBay Minerals Inc $HBM Shares Acquired by Yaupon Capital Management LP

Key Points

• Yaupon Capital Management LP has increased its stake in HudBay Minerals by 21.9%, holding 1,777,347 shares valued at approximately $13.49 million.
• Goldman Sachs Group Inc. significantly raised its position in HudBay Minerals by 144.2%, now owning over 7.28 million shares worth about $55.26 million.
• HudBay Minerals recently declared a semi-annual dividend increase to $0.0073, raising its yield to 17.0%, up from previous payouts.

Yaupon Capital Management LP increased its position in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 21.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,777,347 shares of the mining company's stock after purchasing an additional 318,991 shares during the period. Yaupon Capital Management LP owned 0.45% of HudBay Minerals worth $13,490,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in HBM. Goldman Sachs Group Inc. increased its position in HudBay Minerals by 144.2% during the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company's stock worth $55,264,000 after buying an additional 4,299,428 shares during the period. Jones Financial Companies Lllp grew its position in shares of 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 acquiring an additional 3,733 shares during the last quarter. Temasek Holdings Private Ltd increased its holdings in shares of HudBay Minerals by 5.9% in the 1st quarter. Temasek Holdings Private Ltd now owns 2,030,771 shares of the mining company's stock valued at $15,414,000 after acquiring an additional 113,500 shares during the period. Millennium Management LLC increased its holdings in shares of HudBay Minerals by 298.5% in the 1st quarter. Millennium Management LLC now owns 6,115,053 shares of the mining company's stock valued at $46,411,000 after acquiring an additional 4,580,718 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in HudBay Minerals by 2.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,993,620 shares of the mining company's stock valued at $113,657,000 after purchasing an additional 331,121 shares during the last quarter. Hedge funds and other institutional investors own 57.82% of the company's stock.

Wall Street Analysts Forecast Growth

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

HudBay Minerals Trading Up 3.9%

Shares of HudBay Minerals stock opened at $13.22 on Tuesday. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 0.31 and a beta of 1.51. HudBay Minerals Inc has a 52-week low of $5.95 and a 52-week high of $13.24. The company's 50-day simple moving average is $10.67 and its 200-day simple moving average is $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 net margin of 13.13% and a return on equity of 10.73%. The firm had revenue of $536.40 million during the quarter, compared to the consensus estimate of $558.21 million. The business's revenue was up 26.1% on a year-over-year basis. As a group, equities research analysts anticipate that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

HudBay Minerals Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, September 19th. Investors of record on Tuesday, September 2nd will be paid a $0.0073 dividend. This represents a dividend yield of 17.0%. This is a boost 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 presently 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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