Ausbil Investment Management Ltd Raises Stake in HudBay Minerals Inc $HBM

Ausbil Investment Management Ltd boosted its position in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 71.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 60,000 shares of the mining company’s stock after purchasing an additional 25,000 shares during the period. Ausbil Investment Management Ltd’s holdings in HudBay Minerals were worth $635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of HBM. Cetera Investment Advisers boosted its position in HudBay Minerals by 24.3% in the 4th quarter. Cetera Investment Advisers now owns 19,224 shares of the mining company’s stock worth $156,000 after purchasing an additional 3,760 shares in the last quarter. Deutsche Bank AG boosted its position in HudBay Minerals by 90.5% in the 4th quarter. Deutsche Bank AG now owns 26,582 shares of the mining company’s stock worth $215,000 after purchasing an additional 12,630 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in HudBay Minerals by 83.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 224,070 shares of the mining company’s stock worth $1,817,000 after purchasing an additional 102,179 shares in the last quarter. Pacifica Partners Inc. boosted its position in HudBay Minerals by 1,126.5% in the 1st quarter. Pacifica Partners Inc. now owns 24,296 shares of the mining company’s stock worth $172,000 after purchasing an additional 22,315 shares in the last quarter. Finally, Strong Tower Advisory Services boosted its position in HudBay Minerals by 40.3% in the 1st quarter. Strong Tower Advisory Services now owns 91,524 shares of the mining company’s stock worth $695,000 after purchasing an additional 26,294 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Up 1.4%

NYSE HBM opened at $14.16 on Friday. The business has a fifty day moving average price of $11.56 and a 200 day moving average price of $9.62. HudBay Minerals Inc has a one year low of $5.95 and a one year high of $14.42. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.03. The company has a market cap of $5.60 billion, a P/E ratio of 19.39, a P/E/G ratio of 0.34 and a beta of 1.51.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its 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. The company had revenue of $536.40 million during the quarter, compared to analysts’ expectations of $558.21 million. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.HudBay Minerals’s revenue was up 26.1% on a year-over-year basis. Research analysts anticipate that HudBay Minerals Inc will post 0.79 EPS for the current fiscal year.

HudBay Minerals Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, September 19th. Shareholders of record on Tuesday, September 2nd were given a $0.0073 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a yield of 17.0%. This is an increase from HudBay Minerals’s previous semi-annual dividend of $0.01. HudBay Minerals’s dividend payout ratio is 1.37%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. National Bankshares restated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, August 14th. CIBC restated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. Wall Street Zen upgraded HudBay Minerals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 10th. The Goldman Sachs Group started coverage on HudBay Minerals in a research note on Monday, September 8th. They set a “buy” rating for the company. Finally, Raymond James Financial raised HudBay Minerals to a “moderate buy” rating in a research note on Monday, June 30th. Two analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

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.