Stock Traders Purchase Large Volume of HudBay Minerals Call Options (NYSE:HBM)

Key Points

• HudBay Minerals saw a significant increase in trading activity with investors purchasing 4,247 call options, a rise of 199% compared to the average daily volume.
• Institutional ownership of HudBay Minerals stands at 57.82%, with several large firms increasing their stakes in the company during the first and second quarters.
• Wall Street analysts have rated HudBay Minerals favorably, with multiple firms upgrading the stock to a "strong-buy" rating, reflecting positive growth expectations.

HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM saw some unusual options trading on Thursday. Investors purchased 4,247 call options on the company. This represents an increase of 199% compared to the average daily volume of 1,422 call options.

Institutional Investors Weigh In On HudBay Minerals

A number of large investors have recently added to or reduced their stakes in HBM. SBI Securities Co. Ltd. boosted its position in shares of HudBay Minerals by 64.6% in the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock worth $29,000 after purchasing an additional 1,481 shares during the period. Banque Cantonale Vaudoise acquired a new position in HudBay Minerals during the first quarter worth $33,000. Jones Financial Companies Lllp grew its holdings in shares of HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock valued at $50,000 after purchasing an additional 3,733 shares during the period. Plato Investment Management Ltd purchased a new position in HudBay Minerals during the second quarter worth about $84,000. Finally, Headlands Technologies LLC acquired a new stake in shares of HudBay Minerals during the first quarter worth about $92,000. Institutional investors own 57.82% of the company's stock.

Wall Street Analysts Forecast Growth

HBM has been the topic of several research analyst reports. Wall Street Zen raised HudBay Minerals from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, September 10th. Veritas raised HudBay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. Royal Bank Of Canada reissued an "outperform" rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Weiss Ratings reissued a "buy (b-)" rating on shares of HudBay Minerals in a research report on Wednesday. Finally, CIBC reiterated an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy".

HudBay Minerals Price Performance

Shares of NYSE:HBM traded up $0.03 during trading on Thursday, reaching $17.15. The stock had a trading volume of 1,062,623 shares, compared to its average volume of 7,361,136. The business's 50-day moving average price is $12.49 and its 200 day moving average price is $10.03. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.86. HudBay Minerals has a 52 week low of $5.95 and a 52 week high of $17.47. The stock has a market capitalization of $6.79 billion, a PE ratio of 23.47 and a beta of 1.55.

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 earnings per share (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 10.73%. The company had revenue of $536.40 million during the quarter, compared to analyst estimates of $558.21 million. The company's revenue for the quarter was up 26.1% compared to the same quarter last year. As a group, equities analysts predict that HudBay Minerals will post 0.79 earnings per share for the current year.

HudBay Minerals Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, September 19th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.0073 per share. The ex-dividend date was Tuesday, September 2nd. This is a positive change from HudBay Minerals's previous semi-annual dividend of $0.01. This represents a yield of 17.0%. HudBay Minerals's dividend payout ratio (DPR) is 1.37%.

HudBay Minerals Company 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.

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