Texas Bank & Trust Co Buys Shares of 25,700 HudBay Minerals Inc $HBM

Texas Bank & Trust Co purchased a new stake in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 25,700 shares of the mining company’s stock, valued at approximately $273,000.

Other hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of HudBay Minerals by 142.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 100,303 shares of the mining company’s stock worth $761,000 after buying an additional 58,999 shares during the last quarter. Ausbil Investment Management Ltd boosted its position in HudBay Minerals by 71.4% in the second quarter. Ausbil Investment Management Ltd now owns 60,000 shares of the mining company’s stock worth $635,000 after purchasing an additional 25,000 shares during the last quarter. Millennium Management LLC boosted its position in HudBay Minerals by 298.5% in the first quarter. Millennium Management LLC now owns 6,115,053 shares of the mining company’s stock worth $46,411,000 after purchasing an additional 4,580,718 shares during the last quarter. Anson Funds Management LP bought a new stake in shares of HudBay Minerals during the 1st quarter valued at about $759,000. Finally, Yaupon Capital Management LP increased its position in shares of HudBay Minerals by 21.9% during the 1st quarter. Yaupon Capital Management LP now owns 1,777,347 shares of the mining company’s stock valued at $13,490,000 after purchasing an additional 318,991 shares during the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

HudBay Minerals Stock Performance

Shares of NYSE HBM opened at $15.99 on Monday. The stock has a market cap of $6.33 billion, a PE ratio of 21.90 and a beta of 1.55. HudBay Minerals Inc has a 1 year low of $5.95 and a 1 year high of $17.73. The firm has a fifty day moving average price of $14.56 and a 200-day moving average price of $11.18. 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 (NYSE:HBM) (TSE:HBM) last issued its earnings results on Wednesday, August 13th. The mining company reported $0.19 earnings per share 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 during the quarter, compared to the consensus estimate of $558.21 million. The company’s quarterly revenue was up 26.1% compared to the same quarter last year. Equities analysts anticipate that HudBay Minerals Inc will post 0.79 earnings per share for the current fiscal year.

HudBay Minerals Increases Dividend

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

Analyst Upgrades and Downgrades

HBM has been the topic of a number of research reports. CIBC reissued an “outperform” rating on shares of HudBay Minerals in a report on Tuesday, July 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of HudBay Minerals in a research note on Wednesday, October 8th. Bank of America boosted their price objective on shares of HudBay Minerals from $16.50 to $19.50 and gave the company a “buy” rating in a research report on Thursday, October 16th. Royal Bank Of Canada restated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Finally, The Goldman Sachs Group initiated coverage on HudBay Minerals in a research report on Monday, September 8th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $19.50.

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.