Trexquant Investment LP Grows Position in HudBay Minerals Inc $HBM

Key Points

• Trexquant Investment LP significantly increased its holdings in HudBay Minerals during the 1st quarter by 201.3%, acquiring 428,818 shares to total 641,830 shares valued at $4.87 million.
• HudBay Minerals recently announced a semi-annual dividend of $0.0073 per share, marking a positive change from its previous dividend and representing a yield of 17.0%.
• HudBay Minerals reported earnings of $0.19 per share for the last quarter, exceeding expectations and showing a year-over-year revenue increase of 26.1%.

Trexquant Investment LP boosted its position in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 201.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 641,830 shares of the mining company's stock after purchasing an additional 428,818 shares during the quarter. Trexquant Investment LP owned approximately 0.16% of HudBay Minerals worth $4,871,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in HBM. Raymond James Financial Inc. purchased a new stake in shares of HudBay Minerals during the fourth quarter worth about $183,000. Barclays PLC grew its stake in shares of HudBay Minerals by 7.9% during the fourth quarter. Barclays PLC now owns 93,286 shares of the mining company's stock worth $756,000 after acquiring an additional 6,811 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of HudBay Minerals by 9,877.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock worth $25,000 after acquiring an additional 3,062 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of HudBay Minerals during the fourth quarter worth about $97,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of HudBay Minerals during the fourth quarter worth about $211,000. 57.82% of the stock is currently owned by institutional investors.

HudBay Minerals Stock Performance

NYSE HBM traded up $0.33 during trading hours on Friday, reaching $12.73. The stock had a trading volume of 5,105,666 shares, compared to its average volume of 6,846,108. The stock has a fifty day moving average of $10.62 and a 200 day moving average of $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. HudBay Minerals Inc has a 52-week low of $5.95 and a 52-week high of $12.81. 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 (NYSE:HBM - Get Free Report) TSE: HBM last issued its earnings results 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 firm had revenue of $536.40 million for 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%.The company's quarterly revenue was up 26.1% on a year-over-year basis. Sell-side analysts predict that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

HudBay Minerals Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 2nd will be given a $0.0073 dividend. 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 payout ratio is currently 1.37%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HBM. National Bankshares restated an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Veritas upgraded HudBay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. Royal Bank Of Canada restated an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. CIBC restated an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, July 15th. Finally, Raymond James Financial upgraded 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 six have assigned a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy".

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.