Renaissance Technologies LLC Decreases Stock Holdings in HudBay Minerals Inc $HBM

Renaissance Technologies LLC reduced its holdings in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 19.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,755,509 shares of the mining company’s stock after selling 436,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.44% of HudBay Minerals worth $36,690,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Waterfront Wealth Inc. increased its position in shares of HudBay Minerals by 1.0% during the 4th quarter. Waterfront Wealth Inc. now owns 39,451 shares of the mining company’s stock valued at $783,000 after purchasing an additional 399 shares during the last quarter. Strong Tower Advisory Services boosted its holdings in shares of HudBay Minerals by 0.6% in the 4th quarter. Strong Tower Advisory Services now owns 94,762 shares of the mining company’s stock worth $1,881,000 after buying an additional 587 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of HudBay Minerals by 0.6% in the 4th quarter. Vontobel Holding Ltd. now owns 126,090 shares of the mining company’s stock worth $2,503,000 after buying an additional 738 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of HudBay Minerals by 25.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,933 shares of the mining company’s stock worth $98,000 after buying an additional 986 shares during the last quarter. Finally, Allworth Financial LP grew its position in HudBay Minerals by 107.9% during the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after buying an additional 1,033 shares during the period. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Stock Down 0.0%

HudBay Minerals stock opened at $22.35 on Tuesday. HudBay Minerals Inc has a 1-year low of $8.93 and a 1-year high of $32.15. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 0.34 and a beta of 1.48. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.14. The firm has a 50 day simple moving average of $24.82 and a 200 day simple moving average of $24.13.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $757.30 million for the quarter, compared to analysts’ expectations of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The business’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 EPS. On average, analysts predict that HudBay Minerals Inc will post 1.6 earnings per share for the current year.

HudBay Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Tuesday, June 9th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Tuesday, June 9th. HudBay Minerals’s payout ratio is presently 1.81%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HBM shares. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, June 25th. Bank of America reduced their target price on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating for the company in a research report on Thursday, July 9th. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a research note on Monday, July 6th. Citigroup reaffirmed a “positive” rating on shares of HudBay Minerals in a report on Wednesday, July 15th. Finally, Barclays upped their price objective on HudBay Minerals from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, HudBay Minerals presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.33.

About HudBay Minerals

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.