Invesco Ltd. Decreases Stock Holdings in HudBay Minerals Inc $HBM

Key Points

• Invesco Ltd. sold 1,374,958 shares of HudBay Minerals Inc., reducing its stake by 11.6% to 10,440,891 shares, valued at approximately $79 million.
• HudBay Minerals announced a semi-annual dividend increase to $0.0073, representing a yield of 10.0%, up from the previous dividend of $0.01.
• The company reported quarterly earnings per share of $0.19, exceeding analyst expectations, with revenue of $536.40 million, a 26.1% increase from the previous year.

Invesco Ltd. lessened its holdings in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 11.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,440,891 shares of the mining company's stock after selling 1,374,958 shares during the quarter. Invesco Ltd. owned approximately 2.64% of HudBay Minerals worth $79,246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. CenterBook Partners LP bought a new position in HudBay Minerals in the 1st quarter valued at $2,692,000. Deutsche Bank AG grew its position in HudBay Minerals by 18.2% in the 1st quarter. Deutsche Bank AG now owns 31,414 shares of the mining company's stock valued at $238,000 after acquiring an additional 4,832 shares during the last quarter. Headlands Technologies LLC bought a new position in HudBay Minerals in the 1st quarter valued at $92,000. Vanguard Group Inc. grew its position in HudBay Minerals by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 15,398,817 shares of the mining company's stock valued at $116,738,000 after acquiring an additional 131,012 shares during the last quarter. Finally, Scotia Capital Inc. grew its position in HudBay Minerals by 116.3% in the 1st quarter. Scotia Capital Inc. now owns 197,867 shares of the mining company's stock valued at $1,484,000 after acquiring an additional 106,395 shares during the last quarter. Institutional investors own 57.82% of the company's stock.

HudBay Minerals Stock Up 2.7%

Shares of NYSE HBM traded up $0.2950 during mid-day trading on Thursday, reaching $11.2850. 4,466,008 shares of the company were exchanged, compared to its average volume of 7,786,203. The company has a quick ratio of 1.92, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 0.27 and a beta of 1.63. HudBay Minerals Inc has a 1 year low of $5.95 and a 1 year high of $12.10. The firm has a 50-day moving average of $10.15 and a 200 day moving average of $8.70.

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 for the quarter, topping analysts' consensus estimates of $0.11 by $0.08. The firm had revenue of $536.40 million during the quarter, compared to analysts' expectations of $558.21 million. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.HudBay Minerals's revenue for the quarter was up 26.1% compared to the same quarter last year. 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 disclosed a semi-annual dividend, which will be paid on Friday, September 19th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.0073 per share. This is an increase from HudBay Minerals's previous semi-annual dividend of $0.01. The ex-dividend date is Tuesday, September 2nd. This represents a dividend yield of 10.0%. HudBay Minerals's dividend payout ratio (DPR) is currently 1.37%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wall Street Zen downgraded HudBay Minerals from a "strong-buy" rating to a "buy" rating in a research report on Sunday. CIBC reissued an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. Raymond James Financial raised HudBay Minerals to a "moderate buy" rating in a research report on Monday, June 30th. National Bankshares reissued an "outperform" rating on shares of HudBay Minerals in a research report on Thursday, August 14th. Finally, Veritas raised HudBay Minerals to a "strong-buy" rating in a research report on Monday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy".

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.