Nuveen LLC Takes Position in HudBay Minerals Inc $HBM

Key Points

• Nuveen LLC has acquired 339,855 shares of HudBay Minerals Inc, valued at approximately $2.58 million, increasing its stake to about 0.09% as of the latest SEC filing.
• Several institutional investors have also increased their holdings in HudBay Minerals, resulting in a total institutional ownership of 57.82%.
• The company's recent earnings report showed an EPS of $0.19, surpassing analysts' expectations, and it declared a semi-annual dividend reflecting a yield of 10.0%.

Nuveen LLC purchased a new position in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 339,855 shares of the mining company's stock, valued at approximately $2,576,000. Nuveen LLC owned about 0.09% of HudBay Minerals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Donald Smith & CO. Inc. raised 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 buying an additional 1,323,745 shares during the last quarter. Virtu Financial LLC acquired a new position in HudBay Minerals in the 1st quarter valued at about $142,000. CenterBook Partners LP acquired a new position in HudBay Minerals in the 1st quarter valued at about $2,692,000. Deutsche Bank AG raised its stake in HudBay Minerals by 18.2% in the 1st quarter. Deutsche Bank AG now owns 31,414 shares of the mining company's stock valued at $238,000 after purchasing an additional 4,832 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in HudBay Minerals in the 1st quarter valued at about $92,000. Institutional investors and hedge funds own 57.82% of the company's stock.

Wall Street Analyst Weigh In

HBM has been the subject of several analyst reports. National Bankshares reissued an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Royal Bank Of Canada reissued an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Veritas raised shares of HudBay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. Raymond James Financial raised shares of HudBay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. Finally, CIBC reaffirmed an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. According to data from MarketBeat.com, HudBay Minerals presently has an average rating of "Buy".

HudBay Minerals Trading Up 1.8%

Shares of NYSE:HBM traded up $0.22 during trading on Friday, reaching $12.02. 4,350,127 shares of the stock were exchanged, compared to its average volume of 6,833,131. 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 Inc has a 12-month low of $5.95 and a 12-month high of $12.10. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 0.29 and a beta of 1.51. The firm's 50-day moving average price is $10.39 and its 200 day moving average price is $8.81.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its earnings results on Wednesday, August 13th. The mining company reported $0.19 earnings per share (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 business had revenue of $536.40 million during the quarter, compared to analysts' expectations of $558.21 million. The company's revenue was up 26.1% compared to the same quarter last year. On average, sell-side analysts anticipate that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, September 19th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.0073 per share. This represents a dividend yield of 10.0%. The ex-dividend date is Tuesday, September 2nd. This is an increase from HudBay Minerals's previous semi-annual dividend of $0.01. HudBay Minerals's dividend payout ratio (DPR) is presently 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.