Vanguard Group Inc. Buys 131,012 Shares of HudBay Minerals Inc $HBM

Key Points

• Vanguard Group Inc. has increased its holdings in HudBay Minerals Inc. by 0.9%, owning a total of 15,398,817 shares valued at approximately $116.74 million.
• HudBay Michaels has recently announced a boosted semi-annual dividend yielding 10%, with a new dividend amount of $0.0073 per share.
• Research analysts maintain a favorable outlook on HudBay Minerals, with an average rating of "Buy" based on recent evaluations from various firms.

Vanguard Group Inc. increased its stake in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,398,817 shares of the mining company's stock after purchasing an additional 131,012 shares during the quarter. Vanguard Group Inc. owned approximately 3.90% of HudBay Minerals worth $116,738,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in shares of 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 buying an additional 3,062 shares during the period. SBI Securities Co. Ltd. lifted its stake in HudBay Minerals by 64.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock worth $29,000 after acquiring an additional 1,481 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in HudBay Minerals during the 1st quarter worth about $33,000. Algert Global LLC purchased a new position in HudBay Minerals during the 4th quarter valued at about $86,000. Finally, Hsbc Holdings PLC acquired a new position in shares of HudBay Minerals in the 4th quarter valued at about $97,000. Hedge funds and other institutional investors own 57.82% of the company's stock.

Wall Street Analysts Forecast Growth

HBM has been the subject of several research reports. Scotiabank restated an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, May 13th. Royal Bank Of Canada reissued an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Raymond James Financial upgraded shares of HudBay Minerals to a "moderate buy" rating in a report on Monday, June 30th. CIBC reiterated an "outperform" rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Finally, Veritas raised HudBay Minerals to a "strong-buy" rating in a research report on Monday, July 7th. Two research analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

HudBay Minerals Stock Down 1.3%

HBM stock traded down $0.16 during trading hours on Wednesday, hitting $11.59. The company's stock had a trading volume of 3,535,391 shares, compared to its average volume of 7,488,987. The stock has a 50 day moving average price of $10.30 and a two-hundred day moving average price of $8.78. HudBay Minerals Inc has a 12 month low of $5.95 and a 12 month high of $12.10. The company has a market capitalization of $4.59 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 0.28 and a beta of 1.63. 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 released its quarterly earnings results on Wednesday, August 13th. The mining company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.08. HudBay Minerals had a net margin of 13.13% and a return on equity of 10.73%. The business had revenue of $536.40 million for the quarter, compared to the consensus estimate of $558.21 million. The business's quarterly revenue was up 26.1% compared to the same quarter last year. On average, equities research analysts expect that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

HudBay Minerals Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.0073 per share. This represents a yield of 10.0%. This is an increase 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 is 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.