Yaupon Capital Management LP Acquires 318,991 Shares of HudBay Minerals Inc $HBM

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 grew 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 Securities & Exchange Commission. The firm owned 1,777,347 shares of the mining company's stock after buying an additional 318,991 shares during the period. Yaupon Capital Management LP owned approximately 0.45% of HudBay Minerals worth $13,490,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its holdings in shares of HudBay Minerals by 9,877.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock valued at $25,000 after buying an additional 3,062 shares during the period. SBI Securities Co. Ltd. lifted its position in HudBay Minerals by 64.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock worth $29,000 after buying an additional 1,481 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in HudBay Minerals during the 1st quarter worth about $33,000. Jones Financial Companies Lllp lifted its position in HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock worth $50,000 after buying an additional 3,733 shares in the last quarter. Finally, Algert Global LLC bought a new stake in HudBay Minerals during the 4th quarter worth about $86,000. Institutional investors and hedge funds own 57.82% of the company's stock.

HudBay Minerals Stock Down 0.2%

HBM traded down $0.03 during midday trading on Friday, hitting $13.54. The company had a trading volume of 5,299,660 shares, compared to its average volume of 4,934,164. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 0.33 and a beta of 1.51. The stock's 50 day moving average price is $10.88 and its 200 day moving average price is $9.15. HudBay Minerals Inc has a 52 week low of $5.95 and a 52 week high of $13.64. 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 issued its quarterly earnings data on Wednesday, August 13th. The mining company reported $0.19 earnings per share (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 analysts' expectations of $558.21 million. HudBay Minerals's quarterly revenue was up 26.1% compared to the same quarter last year. On average, research analysts anticipate that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, September 19th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.0073 per share. This represents a 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 is presently 1.37%.

Analysts Set New Price Targets

HBM has been the topic of a number of research analyst reports. Veritas raised shares of HudBay Minerals to a "strong-buy" rating in a report on Monday, July 7th. Wall Street Zen upgraded shares of HudBay Minerals from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. The Goldman Sachs Group started coverage on shares of HudBay Minerals in a research report on Monday, September 8th. They set a "buy" rating on the stock. CIBC reissued an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, July 15th. Finally, Raymond James Financial raised shares of HudBay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average 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.