Walleye Capital LLC Invests $4.28 Million in HudBay Minerals Inc $HBM

Key Points

• Walleye Capital LLC invested approximately $4.28 million in HudBay Minerals Inc., acquiring 563,552 shares, marking a new position for the firm in the mining company during the first quarter.
• Analysts have issued positive ratings for HudBay Minerals, with National Bankshares, Scotiabank, and Royal Bank of Canada reaffirming an "outperform" rating, and Wall Street Zen upgrading the stock to a "strong-buy" rating.
• HudBay Minerals announced an increase in its semi-annual dividend to $0.0073 per share, representing a 10.0% dividend yield, up from the previous amount of $0.01.

Walleye Capital LLC acquired a new stake in HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 563,552 shares of the mining company's stock, valued at approximately $4,277,000. Walleye Capital LLC owned 0.14% of HudBay Minerals as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in HudBay Minerals by 0.9% during the first quarter. Vanguard Group Inc. now owns 15,398,817 shares of the mining company's stock valued at $116,738,000 after buying an additional 131,012 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in HudBay Minerals by 14.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,662,499 shares of the mining company's stock valued at $118,874,000 after buying an additional 1,822,601 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in HudBay Minerals by 86.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company's stock valued at $74,105,000 after buying an additional 4,253,400 shares in the last quarter. Donald Smith & CO. Inc. boosted its stake in HudBay Minerals by 31.3% during 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 in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in HudBay Minerals by 20.8% during the first quarter. Mackenzie Financial Corp now owns 4,927,081 shares of the mining company's stock valued at $37,353,000 after buying an additional 847,934 shares in the last quarter. Institutional investors own 57.82% of the company's stock.

HudBay Minerals Stock Up 1.8%

Shares of HBM traded up $0.22 during mid-day trading on Monday, hitting $12.02. 4,350,127 shares of the company's stock were exchanged, compared to its average volume of 6,833,131. The firm has a fifty day moving average of $10.44 and a two-hundred day moving average of $8.83. HudBay Minerals Inc has a twelve month low of $5.95 and a twelve month high of $12.10. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 0.29 and a beta of 1.51. 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 announced its quarterly earnings results on Wednesday, August 13th. The mining company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.11 by $0.08. HudBay Minerals had a net margin of 13.13% and a return on equity of 10.73%. The company had revenue of $536.40 million for the quarter, compared to analyst estimates of $558.21 million. The business's revenue for the quarter was up 26.1% on a year-over-year basis. On average, sell-side analysts forecast that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

HudBay Minerals Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, September 19th. Stockholders of record on Tuesday, September 2nd will be paid a $0.0073 dividend. The ex-dividend date is Tuesday, September 2nd. This is a positive change from HudBay Minerals's previous semi-annual dividend of $0.01. This represents a dividend yield of 10.0%. HudBay Minerals's dividend payout ratio is presently 1.37%.

Analyst Upgrades and Downgrades

HBM has been the subject of a number of recent research reports. CIBC reiterated an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. Royal Bank Of Canada reissued an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Veritas raised HudBay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. Wall Street Zen raised shares of HudBay Minerals from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 25th. Finally, Raymond James Financial raised shares of 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 given a Buy rating to the company's stock. According to MarketBeat, HudBay Minerals has a consensus 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.