Russell Investments Group Ltd. Has $2.71 Million Stake in HudBay Minerals Inc $HBM

Key Points

• Russell Investments Group Ltd. has reduced its stake in HudBay Minerals Inc by 35.5%, selling 196,513 shares and now holds 356,905 shares, valued at approximately $2.7 million.
• HudBay Minerals recently reported $0.19 earnings per share, exceeding analyst expectations, and had revenue of $536.4 million, which represents a 26.1% increase compared to the same quarter last year.
• The company announced a semi-annual dividend increase to $0.0073 per share, translating to a 10.0% dividend yield, with payments scheduled for September 19th.

Russell Investments Group Ltd. lessened its holdings in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 35.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 356,905 shares of the mining company's stock after selling 196,513 shares during the period. Russell Investments Group Ltd. owned 0.09% of HudBay Minerals worth $2,705,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HBM. AGF Management Ltd. lifted its position in HudBay Minerals by 53.8% during the first quarter. AGF Management Ltd. now owns 2,148,219 shares of the mining company's stock worth $16,286,000 after buying an additional 751,638 shares during the period. Eagle Global Advisors LLC increased its holdings 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 during the last quarter. Nuveen LLC bought a new stake in shares of HudBay Minerals in the 1st quarter worth about $2,576,000. Donald Smith & CO. Inc. increased its holdings in HudBay Minerals by 31.3% in the first quarter. Donald Smith & CO. Inc. now owns 5,549,372 shares of the mining company's stock valued at $42,120,000 after buying an additional 1,323,745 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in HudBay Minerals during the 1st quarter worth $142,000. Hedge funds and other institutional investors own 57.82% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Raymond James Financial upgraded shares of HudBay Minerals to a "moderate buy" rating in a research report on Monday, June 30th. Royal Bank Of Canada reiterated an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. CIBC reaffirmed an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Scotiabank reissued an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, May 13th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of HudBay Minerals in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy".

HudBay Minerals Trading Down 1.3%

Shares of HudBay Minerals stock traded down $0.16 during trading on Wednesday, reaching $11.59. 3,535,391 shares of the company were exchanged, compared to its average volume of 7,488,987. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 0.28 and a beta of 1.63. HudBay Minerals Inc has a twelve month low of $5.95 and a twelve month high of $12.10. The business has a 50-day moving average price of $10.30 and a 200-day moving average price of $8.78. 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 issued its quarterly earnings data on Wednesday, August 13th. The mining company reported $0.19 earnings per share (EPS) 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 analyst estimates of $558.21 million. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.HudBay Minerals's quarterly revenue was up 26.1% compared to the same quarter last year. Sell-side analysts anticipate that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

HudBay Minerals Increases Dividend

The business also recently declared 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. This represents a yield of 10.0%. This is a boost from HudBay Minerals's previous semi-annual dividend of $0.01. The ex-dividend date of this dividend is Tuesday, September 2nd. HudBay Minerals's payout ratio 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.