HudBay Minerals Inc $HBM Holdings Raised 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 boosted its stake in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 73.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 353,305 shares of the mining company's stock after acquiring an additional 150,000 shares during the quarter. HudBay Minerals accounts for about 1.4% of Mudita Advisors LLP's portfolio, making the stock its 17th biggest holding. Mudita Advisors LLP owned 0.09% of HudBay Minerals worth $2,680,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in HudBay Minerals by 6.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company's stock valued at $3,337,000 after acquiring an additional 27,944 shares during the period. Woodline Partners LP boosted its stake in HudBay Minerals by 5.9% during the 1st quarter. Woodline Partners LP now owns 2,250,425 shares of the mining company's stock worth $17,081,000 after purchasing an additional 125,931 shares during the last quarter. Yaupon Capital Management LP boosted its stake in HudBay Minerals by 21.9% during the 1st quarter. Yaupon Capital Management LP now owns 1,777,347 shares of the mining company's stock worth $13,490,000 after purchasing an additional 318,991 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in HudBay Minerals by 144.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company's stock worth $55,264,000 after purchasing an additional 4,299,428 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in 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 during the last quarter. Institutional investors and hedge funds own 57.82% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on HBM. The Goldman Sachs Group began coverage on HudBay Minerals in a report on Monday, September 8th. They set a "buy" rating on the stock. CIBC reiterated an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, July 15th. National Bankshares reiterated an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. Wall Street Zen upgraded shares of HudBay Minerals from a "buy" rating to a "strong-buy" rating in a report on Wednesday, September 10th. Finally, Raymond James Financial upgraded shares of HudBay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy".

HudBay Minerals Stock Performance

Shares of HBM stock traded up $0.27 during trading hours on Monday, hitting $13.80. The stock had a trading volume of 2,349,718 shares, compared to its average volume of 7,215,958. The firm has a market capitalization of $5.46 billion, a PE ratio of 18.91, a PEG ratio of 0.33 and a beta of 1.51. HudBay Minerals Inc has a twelve month low of $5.95 and a twelve month high of $13.79. The stock's 50 day moving average is $10.88 and its 200 day moving average is $9.16. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.86.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings data on Wednesday, August 13th. The mining company reported $0.19 earnings per share 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 the consensus estimate of $558.21 million. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The firm's revenue was up 26.1% compared to the same quarter last year. As a group, research analysts forecast that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, September 19th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.0073 per share. The ex-dividend date is Tuesday, September 2nd. This represents a yield of 17.0%. This is a boost from HudBay Minerals's previous semi-annual dividend of $0.01. HudBay Minerals's dividend payout ratio (DPR) is 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.