PDT Partners LLC Has $3.07 Million Stock Holdings in HudBay Minerals Inc $HBM

Key Points

• PDT Partners LLC significantly increased its stake in HudBay Minerals by 170.3% in the first quarter, owning 404,306 shares valued at approximately $3.07 million.
• HudBay Minerals announced a semi-annual dividend of $0.0073 per share, representing a yield of 17.0%, a change from its previous dividend of $0.01.
• The company reported a 26.1% increase in quarterly revenue year-over-year, totaling $536.40 million, and earnings per share of $0.19, surpassing analysts' expectations.

PDT Partners LLC lifted its stake in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 170.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 404,306 shares of the mining company's stock after acquiring an additional 254,709 shares during the quarter. PDT Partners LLC owned approximately 0.10% of HudBay Minerals worth $3,069,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of HBM. SBI Securities Co. Ltd. boosted its holdings in HudBay Minerals by 64.6% in the first 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. boosted its holdings in HudBay Minerals by 1.4% in the first 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 boosted its holdings in HudBay Minerals by 9,877.4% in 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 in the last quarter. Cetera Investment Advisers boosted its holdings in HudBay Minerals by 24.3% in the fourth 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. Finally, Banque Cantonale Vaudoise bought a new stake in HudBay Minerals in the first quarter worth $33,000. 57.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HBM has been the subject of a number of recent research reports. National Bankshares reiterated an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. CIBC restated an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Royal Bank Of Canada restated an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. Veritas upgraded shares of HudBay Minerals to a "strong-buy" rating in a report on Monday, July 7th. Finally, Wall Street Zen cut shares of HudBay Minerals from a "strong-buy" rating to a "buy" rating in a report on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company. Based on data from MarketBeat, HudBay Minerals currently has an average rating of "Buy".

HudBay Minerals Stock Performance

Shares of HBM traded up $0.33 during trading hours on Friday, reaching $12.73. 5,105,666 shares of the company traded hands, compared to its average volume of 6,844,662. The stock's fifty day moving average is $10.62 and its 200 day moving average is $8.94. The stock has a market cap of $5.04 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 0.31 and a beta of 1.51. 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 1-year low of $5.95 and a 1-year high of $12.81.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced 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. The business had revenue of $536.40 million during the quarter, compared to analyst estimates of $558.21 million. HudBay Minerals had a net margin of 13.13% and a return on equity of 10.73%. The business's quarterly revenue was up 26.1% compared to the same quarter last year. Equities research analysts anticipate 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. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.0073 per share. This is an increase from HudBay Minerals's previous semi-annual dividend of $0.01. This represents a dividend yield of 17.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. HudBay Minerals's dividend payout ratio (DPR) 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.