Woodline Partners LP Acquires 125,931 Shares of HudBay Minerals Inc $HBM

Woodline Partners LP grew its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,250,425 shares of the mining company’s stock after acquiring an additional 125,931 shares during the quarter. Woodline Partners LP’s holdings in HudBay Minerals were worth $17,081,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of HBM. Millennium Management LLC boosted its position in shares of HudBay Minerals by 298.5% during the 1st quarter. Millennium Management LLC now owns 6,115,053 shares of the mining company’s stock valued at $46,411,000 after acquiring an additional 4,580,718 shares during the last quarter. L1 Capital Pty Ltd boosted its position in shares of HudBay Minerals by 44.1% during the 1st quarter. L1 Capital Pty Ltd now owns 14,423,384 shares of the mining company’s stock valued at $109,365,000 after acquiring an additional 4,410,778 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of HudBay Minerals by 144.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock valued at $55,264,000 after acquiring an additional 4,299,428 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in shares of HudBay Minerals by 50.6% during the 1st quarter. EdgePoint Investment Group Inc. now owns 7,628,971 shares of the mining company’s stock valued at $57,848,000 after acquiring an additional 2,561,607 shares during the last quarter. Finally, Carrhae Capital LLP bought a new stake in shares of HudBay Minerals during the 1st quarter valued at about $14,244,000. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Performance

Shares of HBM stock opened at $13.48 on Thursday. 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 Inc has a fifty-two week low of $5.95 and a fifty-two week high of $13.55. The stock has a 50 day moving average price of $10.77 and a two-hundred day moving average price of $9.05. The company has a market capitalization of $5.33 billion, a P/E ratio of 18.46, a PEG ratio of 0.31 and a beta of 1.51.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, August 13th. The mining company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.08. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The firm had revenue of $536.40 million during the quarter, compared to the consensus estimate of $558.21 million. The business’s revenue was up 26.1% compared to the same quarter last year. 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 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 is an increase from HudBay Minerals’s previous semi-annual dividend of $0.01. This represents a yield of 17.0%. HudBay Minerals’s dividend payout ratio is presently 1.37%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HBM shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, August 14th. Wall Street Zen upgraded HudBay Minerals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Raymond James Financial upgraded HudBay Minerals to a “moderate buy” rating in a research report on Monday, June 30th. The Goldman Sachs Group initiated coverage on HudBay Minerals in a research report on Monday. They issued a “buy” rating for the company. Finally, National Bankshares restated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat, the stock 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.