MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $113.66 Million Stock Holdings in HudBay Minerals Inc $HBM

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in HudBay Minerals by 2.3% during Q1, holding approximately 3.80% of the company valued at $113.7 million.
• Several institutional investors, including L1 Capital Pty Ltd and EdgePoint Investment Group, significantly increased their holdings in HudBay Minerals during the same period.
• HudBay Minerals recently declared a semi-annual dividend of $0.0073 per share, marking an increase from its previous dividend and indicating a yield of 17.0%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,993,620 shares of the mining company's stock after acquiring an additional 331,121 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 3.80% of HudBay Minerals worth $113,657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HBM. Raymond James Financial Inc. bought a new stake in HudBay Minerals in the fourth quarter worth about $183,000. Tower Research Capital LLC TRC raised its holdings in 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 buying an additional 3,062 shares during the period. Hsbc Holdings PLC acquired a new stake in HudBay Minerals during the 4th quarter worth about $97,000. Algert Global LLC acquired a new stake in HudBay Minerals during the 4th quarter worth about $86,000. Finally, Bank of America Corp DE raised its holdings in HudBay Minerals by 269.3% during the 4th quarter. Bank of America Corp DE now owns 2,409,267 shares of the mining company's stock worth $19,515,000 after buying an additional 1,756,930 shares during the period. 57.82% of the stock is currently owned by institutional investors.

HudBay Minerals Stock Up 2.6%

Shares of NYSE HBM traded up $0.34 during trading hours on Wednesday, hitting $13.35. The stock had a trading volume of 2,321,195 shares, compared to its average volume of 7,260,645. The company has a market capitalization of $5.28 billion, a P/E ratio of 18.26, a P/E/G ratio of 0.32 and a beta of 1.51. The firm's 50-day moving average price is $10.72 and its two-hundred day moving average price is $9.02. HudBay Minerals Inc has a 52 week low of $5.95 and a 52 week high of $13.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.03.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings results on Wednesday, August 13th. The mining company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.11 by $0.08. The business 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%.The company's revenue was up 26.1% on a year-over-year basis. Analysts anticipate 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. Investors of record on Tuesday, September 2nd will be paid a $0.0073 dividend. This represents a dividend yield of 17.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from HudBay Minerals's previous semi-annual dividend of $0.01. HudBay Minerals's dividend payout ratio (DPR) is presently 1.37%.

Analyst Ratings Changes

Several research firms have issued reports on HBM. Raymond James Financial upgraded HudBay Minerals to a "moderate buy" rating in a report on Monday, June 30th. CIBC restated an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Veritas upgraded HudBay Minerals to a "strong-buy" rating in a report on Monday, July 7th. National Bankshares restated an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. Finally, Scotiabank reiterated an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, May 13th. Two research 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, 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.