Jennison Associates LLC Invests $50.38 Million in Aura Minerals Inc. $AUGO

Key Points

• Jennison Associates LLC initiated a new position in Aura Minerals, buying 617,378 shares valued at about $50.38 million and ending the quarter with 0.74% ownership.
• Insider selling has been notable, including director Mauad Bruno Sousa selling 100,000 shares and CFO Santos Cardoso Joao Kleber Dos selling 60,000 shares; insiders sold 403,092 shares total over the last three months.
• Aura Minerals recently posted solid quarterly results with EPS of $1.13 on revenue of $382.61 million and also raised its quarterly dividend to $0.78 per share, implying a 6.2% yield.

Jennison Associates LLC bought a new stake in Aura Minerals Inc. (NASDAQ:AUGO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 617,378 shares of the company's stock, valued at approximately $50,378,000. Jennison Associates LLC owned 0.74% of Aura Minerals at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AUGO. Triumph Capital Management acquired a new stake in Aura Minerals in the 4th quarter valued at $25,000. Hollencrest Capital Management raised its position in Aura Minerals by 307.7% in the fourth quarter. Hollencrest Capital Management now owns 795 shares of the company's stock valued at $40,000 after purchasing an additional 600 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Aura Minerals during the fourth quarter worth about $34,000. Virtus Advisers LLC lifted its stake in shares of Aura Minerals by 46.4% during the fourth quarter. Virtus Advisers LLC now owns 2,635 shares of the company's stock worth $133,000 after purchasing an additional 835 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Aura Minerals in the third quarter worth about $37,000.

Insider Activity at Aura Minerals

In other Aura Minerals news, Director Mauad Bruno Sousa sold 100,000 shares of the company's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $77.48, for a total transaction of $7,748,000.00. Following the sale, the director owned 434,965 shares in the company, valued at $33,701,088.20. This represents a 18.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Santos Cardoso Joao Kleber Dos sold 60,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $61.95, for a total value of $3,717,000.00. Following the transaction, the chief financial officer directly owned 118,111 shares in the company, valued at approximately $7,316,976.45. This represents a 33.69% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 403,092 shares of company stock worth $30,450,738.

Aura Minerals Price Performance

Shares of NASDAQ:AUGO opened at $50.22 on Monday. The firm has a market cap of $4.21 billion and a PE ratio of 46.50. The company has a fifty day simple moving average of $65.99 and a 200 day simple moving average of $72.37. The company has a current ratio of 0.98, a quick ratio of 0.75 and a debt-to-equity ratio of 1.03. Aura Minerals Inc. has a 12-month low of $22.24 and a 12-month high of $110.32.

Aura Minerals (NASDAQ:AUGO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.13 EPS for the quarter. The firm had revenue of $382.61 million for the quarter. Aura Minerals had a net margin of 7.80% and a return on equity of 111.96%. On average, equities research analysts anticipate that Aura Minerals Inc. will post 6.57 EPS for the current fiscal year.

Aura Minerals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This is a positive change from Aura Minerals's previous quarterly dividend of $0.66. This represents a $3.12 annualized dividend and a dividend yield of 6.2%. Aura Minerals's dividend payout ratio is 288.89%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AUGO. Zacks Research raised shares of Aura Minerals from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Wall Street Zen raised shares of Aura Minerals from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Bank of America lowered their target price on Aura Minerals from $122.00 to $94.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Weiss Ratings lowered Aura Minerals from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, June 29th. Finally, JPMorgan Chase & Co. cut their price target on Aura Minerals from $104.50 to $91.00 and set an "overweight" rating on the stock in a research note on Thursday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $79.27.

Aura Minerals Profile

We are an Americas gold and copper production company with a significant portfolio of mining operations. Our mission is to deliver long-term value by unlocking operational efficiencies, responsibly growing our portfolio with a focus on return on invested capital, responsible mining practices and a commitment to sustainability. We operate with a decentralized culture, supported by a lean corporate team that ensures agile and dynamic management and decision-making processes, focused on high operational sustainability compliance standards.

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