Renaissance Technologies LLC lessened its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM – Get Rating) (TSE:HBM) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,103,929 shares of the mining company’s stock after selling 165,700 shares during the period. Renaissance Technologies LLC owned about 1.19% of Hudbay Minerals worth $12,507,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Letko Brosseau & Associates Inc. grew its position in shares of Hudbay Minerals by 19.9% during the 3rd quarter. Letko Brosseau & Associates Inc. now owns 17,105,962 shares of the mining company’s stock worth $69,218,000 after purchasing an additional 2,838,400 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Hudbay Minerals by 32.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 945,554 shares of the mining company’s stock worth $3,810,000 after purchasing an additional 233,143 shares in the last quarter. UBS Group AG grew its position in shares of Hudbay Minerals by 146.3% during the 3rd quarter. UBS Group AG now owns 36,135 shares of the mining company’s stock worth $146,000 after purchasing an additional 114,135 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Hudbay Minerals by 33.5% during the 3rd quarter. Toronto Dominion Bank now owns 201,967 shares of the mining company’s stock worth $811,000 after acquiring an additional 50,708 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Hudbay Minerals by 1,676.7% during the 3rd quarter. Signaturefd LLC now owns 36,085 shares of the mining company’s stock worth $145,000 after acquiring an additional 34,054 shares in the last quarter. Institutional investors and hedge funds own 80.19% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Scotiabank reduced their price target on shares of Hudbay Minerals from C$11.00 to C$10.00 in a research report on Tuesday, February 7th. National Bank Financial increased their price target on shares of Hudbay Minerals from C$8.50 to C$8.75 in a research report on Monday, February 13th. Credit Suisse Group increased their price target on shares of Hudbay Minerals from C$8.50 to C$9.00 in a research report on Thursday, February 2nd. TheStreet upgraded shares of Hudbay Minerals from a “d” rating to a “c” rating in a research report on Friday, November 11th. Finally, StockNews.com lowered shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Friday, January 13th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.47.
Hudbay Minerals Price Performance
Hudbay Minerals (NYSE:HBM – Get Rating) (TSE:HBM) last issued its quarterly earnings data on Friday, February 24th. The mining company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $321.20 million during the quarter, compared to the consensus estimate of $395.63 million. Hudbay Minerals had a net margin of 4.82% and a return on equity of 1.70%. Hudbay Minerals’s revenue for the quarter was down 24.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 EPS. Research analysts predict that Hudbay Minerals Inc. will post 0.57 earnings per share for the current fiscal year.
Hudbay Minerals Announces Dividend
The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, March 24th. Stockholders of record on Tuesday, March 7th will be paid a dividend of $0.008 per share. This represents a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, March 6th. Hudbay Minerals’s payout ratio is currently 7.69%.
Hudbay Minerals Profile
Hudbay Minerals, Inc operates as a mining company. The firm engages in the production of copper concentrate, molybdenum concentrate and zinc metal. It focuses on the discovery, production and marketing of base and precious metals. The company was founded on January 16, 1996 and is headquartered in Toronto, Canada.
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