HudBay Minerals Inc $HBM Shares Purchased by Mudita Advisors LLP

Key Points

• Mudita Advisors LLP increased its holdings in HudBay Minerals by 73.8%, purchasing an additional 150,000 shares and making HudBay the firm’s 17th largest holding.
• HudBay Minerals reported earnings of $0.19 per share for the last quarter, exceeding the consensus estimate of $0.11, with a revenue of $536.40 million.
• The company announced a semi-annual dividend increase, now $0.0073 per share, reflecting a yield of 17.0%, up from the previous amount of $0.01.

Mudita Advisors LLP raised its stake in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 73.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 353,305 shares of the mining company's stock after purchasing an additional 150,000 shares during the quarter. HudBay Minerals accounts for 1.4% of Mudita Advisors LLP's investment portfolio, making the stock its 17th biggest holding. Mudita Advisors LLP owned about 0.09% of HudBay Minerals worth $2,680,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of HBM. Tower Research Capital LLC TRC raised its stake in shares of HudBay Minerals by 9,877.4% during the fourth 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 during the last quarter. SBI Securities Co. Ltd. increased its stake in HudBay Minerals by 64.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock valued at $29,000 after buying an additional 1,481 shares during the period. Banque Cantonale Vaudoise purchased a new position in HudBay Minerals during the 1st quarter worth $33,000. Jones Financial Companies Lllp lifted its stake in shares of HudBay Minerals by 131.6% in the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock worth $50,000 after acquiring an additional 3,733 shares during the period. Finally, Algert Global LLC purchased a new stake in shares of HudBay Minerals in the fourth quarter valued at about $86,000. Institutional investors and hedge funds own 57.82% of the company's stock.

HudBay Minerals Price Performance

NYSE HBM traded down $0.03 during mid-day trading on Friday, hitting $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 50 day simple moving average of $10.88 and a 200 day simple moving average of $9.13. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 0.33 and a beta of 1.51. HudBay Minerals Inc has a 52-week low of $5.95 and a 52-week high of $13.64. The company has a quick ratio of 0.86, a current ratio of 1.03 and a debt-to-equity ratio of 0.20.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its earnings results on Wednesday, August 13th. The mining company reported $0.19 EPS for the quarter, topping 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 company had revenue of $536.40 million for the quarter, compared to the consensus estimate of $558.21 million. The firm's revenue was up 26.1% on a year-over-year basis. Equities analysts forecast that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

HudBay Minerals Increases Dividend

The firm 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 $0.0073 dividend. This represents a 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 is currently 1.37%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on HBM shares. CIBC reissued an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Veritas raised HudBay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. National Bankshares reissued an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. The Goldman Sachs Group began coverage on HudBay Minerals in a research note on Monday. They issued a "buy" rating on the stock. Finally, Wall Street Zen raised HudBay Minerals from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Two 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 company presently has an average 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.