Robotti Robert Buys Shares of 79,055 HudBay Minerals Inc $HBM

Key Points

• Robotti Robert acquired a new position in HudBay Minerals, purchasing 79,055 shares valued at approximately $600,000 during the first quarter.
• Institutional investors now hold 57.82% of HudBay Minerals' stock, with several firms significantly increasing their stakes, including Dimensional Fund Advisors, which raised its holdings by 86.9%.
• HudBay Minerals reported earnings of $0.19 per share for the last quarter, exceeding analysts' expectations of $0.11, while quarterly revenue rose by 26.1% compared to the previous year.

Robotti Robert bought a new position in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 79,055 shares of the mining company's stock, valued at approximately $600,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Boston Partners grew its stake in HudBay Minerals by 386.1% during the 1st quarter. Boston Partners now owns 1,861,812 shares of the mining company's stock worth $14,131,000 after purchasing an additional 1,478,827 shares in the last quarter. Persistent Asset Partners Ltd grew its stake in HudBay Minerals by 28.2% during the 1st quarter. Persistent Asset Partners Ltd now owns 118,013 shares of the mining company's stock worth $896,000 after purchasing an additional 25,991 shares in the last quarter. AGF Management Ltd. grew its stake in HudBay Minerals by 53.8% during the 1st quarter. AGF Management Ltd. now owns 2,148,219 shares of the mining company's stock worth $16,286,000 after purchasing an additional 751,638 shares in the last quarter. Eagle Global Advisors LLC grew its stake in HudBay Minerals by 40.9% during the 1st quarter. Eagle Global Advisors LLC now owns 29,300 shares of the mining company's stock worth $222,000 after purchasing an additional 8,500 shares in the last quarter. Finally, Nuveen LLC acquired a new position in HudBay Minerals during the 1st quarter worth $2,576,000. 57.82% of the stock is owned by institutional investors and hedge funds.

HudBay Minerals Price Performance

Shares of NYSE:HBM traded down $0.1050 on Tuesday, reaching $10.8350. 2,056,041 shares of the company were exchanged, compared to its average volume of 7,448,019. The company has a 50-day moving average of $10.07 and a 200-day moving average of $8.65. The company has a current ratio of 2.32, a quick ratio of 1.92 and a debt-to-equity ratio of 0.42. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 0.28 and a beta of 1.63. HudBay Minerals Inc has a 1-year low of $5.95 and a 1-year high of $12.10.

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 the consensus estimate of $0.11 by $0.08. HudBay Minerals had a net margin of 13.13% and a return on equity of 10.91%. The firm had revenue of $536.40 million during the quarter, compared to analysts' expectations of $558.21 million. The business's revenue for the quarter was up 26.1% compared to the same quarter last year. Equities 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 paid a $0.0073 dividend. This represents a dividend yield of 10.0%. This is a positive change from HudBay Minerals's previous semi-annual dividend of $0.01. The ex-dividend date is Tuesday, September 2nd. HudBay Minerals's dividend payout ratio (DPR) is 1.37%.

Analyst Ratings Changes

Several research firms have recently issued reports on HBM. Veritas raised HudBay Minerals to a "strong-buy" rating in a research report on Monday, July 7th. Wall Street Zen cut HudBay Minerals from a "strong-buy" rating to a "buy" rating in a research report on Sunday. CIBC reaffirmed an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. Scotiabank reissued an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, May 13th. Finally, National Bankshares reissued an "outperform" rating on shares of HudBay Minerals in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat.com, HudBay Minerals currently 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.