MBB Public Markets I LLC Sells 1,730,540 Shares of HudBay Minerals Inc $HBM

Key Points

• MBB Public Markets I LLC has reduced its stake in HudBay Minerals Inc by 73.6%, now owning 621,794 shares after selling 1,730,540 shares in the first quarter.
• Multiple institutional investors increased their holdings in HudBay, with Millennium Management LLC boosting its position by 298.5%, now owning over 6 million shares.
• HudBay Minerals recently declared a semi-annual dividend of $0.0073 per share, a decrease from its previous $0.01 dividend, reflecting a yield of 17.0%.

MBB Public Markets I LLC decreased its position in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 73.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 621,794 shares of the mining company's stock after selling 1,730,540 shares during the period. HudBay Minerals comprises 0.5% of MBB Public Markets I LLC's portfolio, making the stock its 29th biggest position. MBB Public Markets I LLC owned about 0.16% of HudBay Minerals worth $4,719,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. raised its stake in shares of 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 purchasing an additional 1,481 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of HudBay Minerals by 1.4% during the 1st quarter. Federated Hermes Inc. now owns 126,836 shares of the mining company's stock worth $963,000 after purchasing an additional 1,794 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of HudBay Minerals by 9,877.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock worth $25,000 after purchasing an additional 3,062 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of 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 purchasing an additional 3,733 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of HudBay Minerals by 24.3% during the 4th quarter. Cetera Investment Advisers now owns 19,224 shares of the mining company's stock worth $156,000 after purchasing an additional 3,760 shares in the last quarter. Institutional investors own 57.82% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HBM. Raymond James Financial upgraded HudBay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. National Bankshares reissued an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. The Goldman Sachs Group assumed coverage on HudBay Minerals in a 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 report on Tuesday, July 15th. Finally, Wall Street Zen raised HudBay Minerals from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to MarketBeat.com, HudBay Minerals presently has an average rating of "Buy".

HudBay Minerals Stock Performance

NYSE HBM traded down $0.03 on Friday, reaching $13.54. The stock had a trading volume of 5,299,660 shares, compared to its average volume of 4,934,164. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.86. The firm has a fifty day moving average of $10.88 and a two-hundred day moving average of $9.13. HudBay Minerals Inc has a 1-year low of $5.95 and a 1-year high of $13.64. The company has a market cap of $5.36 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 0.33 and a beta of 1.51.

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 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.08. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The firm had revenue of $536.40 million for the quarter, compared to analyst estimates of $558.21 million. The firm's quarterly revenue was up 26.1% on a year-over-year basis. On average, equities research analysts anticipate that HudBay Minerals Inc will post 0.79 EPS for the current year.

HudBay Minerals Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 2nd will be issued a $0.0073 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a yield of 17.0%. This is a positive change from HudBay Minerals's previous semi-annual dividend of $0.01. HudBay Minerals's payout ratio is currently 1.37%.

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.