HudBay Minerals Inc $HBM is L1 Capital Pty Ltd's 5th Largest Position

Key Points

• L1 Capital Pty Ltd increased its stake in HudBay Minerals Inc by 44.1% in Q1, now holding approximately 14.4 million shares, representing 10.2% of its portfolio.
• HudBay Minerals' recent quarterly earnings showed a profit of $0.19 per share, surpassing expectations, while revenue rose by 26.1% year-over-year.
• The company declared a semi-annual dividend of $0.0073 per share, marking an increase from its previous payment and resulting in a dividend yield of 10.0%.

L1 Capital Pty Ltd grew its position in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 44.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,423,384 shares of the mining company's stock after buying an additional 4,410,778 shares during the quarter. HudBay Minerals accounts for approximately 10.2% of L1 Capital Pty Ltd's investment portfolio, making the stock its 5th biggest holding. L1 Capital Pty Ltd owned 3.65% of HudBay Minerals worth $109,365,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of HudBay Minerals by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 15,398,817 shares of the mining company's stock worth $116,738,000 after purchasing an additional 131,012 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of HudBay Minerals by 14.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,662,499 shares of the mining company's stock worth $118,874,000 after purchasing an additional 1,822,601 shares during the last quarter. Donald Smith & CO. Inc. increased its stake in shares of HudBay Minerals by 31.3% during the 1st quarter. Donald Smith & CO. Inc. now owns 5,549,372 shares of the mining company's stock worth $42,120,000 after purchasing an additional 1,323,745 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of HudBay Minerals by 20.8% during the 1st quarter. Mackenzie Financial Corp now owns 4,927,081 shares of the mining company's stock worth $37,353,000 after purchasing an additional 847,934 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of HudBay Minerals by 0.3% during the 1st quarter. American Century Companies Inc. now owns 4,289,612 shares of the mining company's stock worth $32,521,000 after purchasing an additional 13,717 shares during the last quarter. Hedge funds and other institutional investors own 57.82% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on HBM. Scotiabank restated an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, May 13th. Raymond James Financial upgraded shares of HudBay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. CIBC restated an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, July 15th. Wall Street Zen lowered shares of HudBay Minerals from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. Finally, National Bankshares restated an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy".

HudBay Minerals Stock Performance

HudBay Minerals stock traded up $0.33 during mid-day trading on Friday, reaching $12.73. The company's stock had a trading volume of 5,105,666 shares, compared to its average volume of 6,846,108. HudBay Minerals Inc has a 12-month low of $5.95 and a 12-month high of $12.81. The company has a market capitalization of $5.04 billion, a P/E ratio of 17.43, a PEG ratio of 0.30 and a beta of 1.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.03. The firm's fifty day moving average price is $10.62 and its two-hundred day moving average price is $8.93.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its quarterly earnings data on Wednesday, August 13th. The mining company reported $0.19 earnings per share 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 business had revenue of $536.40 million during the quarter, compared to analyst estimates of $558.21 million. The firm's quarterly revenue was up 26.1% compared to the same quarter last year. Sell-side analysts predict that HudBay Minerals Inc will post 0.79 EPS 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. Stockholders of record on Tuesday, September 2nd will be given 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 17.0%. 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.