Hudbay Minerals Inc. (NYSE:HBM) Shares Bought by Jennison Associates LLC

Jennison Associates LLC increased its holdings in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 0.2% during the 4th quarter, HoldingsChannel reports. The fund owned 3,306,276 shares of the mining company’s stock after acquiring an additional 7,462 shares during the quarter. Jennison Associates LLC’s holdings in Hudbay Minerals were worth $26,805,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Northwest & Ethical Investments L.P. increased its position in shares of Hudbay Minerals by 0.8% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 197,289 shares of the mining company’s stock worth $1,815,000 after purchasing an additional 1,487 shares during the last quarter. Van ECK Associates Corp grew its stake in Hudbay Minerals by 0.4% in the third quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company’s stock worth $4,213,000 after purchasing an additional 1,960 shares in the last quarter. MQS Management LLC increased its holdings in Hudbay Minerals by 8.2% in the third quarter. MQS Management LLC now owns 34,231 shares of the mining company’s stock valued at $315,000 after buying an additional 2,592 shares during the last quarter. FMR LLC raised its stake in Hudbay Minerals by 0.7% during the third quarter. FMR LLC now owns 354,392 shares of the mining company’s stock valued at $3,260,000 after buying an additional 2,624 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Hudbay Minerals during the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Hudbay Minerals currently has a consensus rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Stock Performance

Shares of HBM stock opened at $8.65 on Wednesday. The company has a market cap of $3.42 billion, a P/E ratio of 37.62 and a beta of 1.74. The business has a 50 day moving average of $8.57 and a two-hundred day moving average of $8.46. Hudbay Minerals Inc. has a 52 week low of $4.94 and a 52 week high of $10.49. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.09. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The firm had revenue of $485.80 million during the quarter, compared to the consensus estimate of $454.47 million. During the same period in the prior year, the business earned $0.07 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. As a group, analysts anticipate that Hudbay Minerals Inc. will post 0.52 EPS for the current year.

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.