Jennison Associates LLC Purchases 140,312 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Jennison Associates LLC raised its position in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 10.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,464,679 shares of the mining company’s stock after purchasing an additional 140,312 shares during the quarter. Jennison Associates LLC’s holdings in Hudbay Minerals were worth $8,059,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Nova Scotia increased its stake in Hudbay Minerals by 19.1% during the 3rd quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock valued at $121,000 after purchasing an additional 3,979 shares in the last quarter. Shell Asset Management Co. increased its stake in Hudbay Minerals by 38.6% during the 3rd quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company’s stock valued at $128,000 after purchasing an additional 7,300 shares in the last quarter. Aigen Investment Management LP bought a new stake in Hudbay Minerals during the 3rd quarter valued at about $195,000. Vanguard Personalized Indexing Management LLC increased its stake in Hudbay Minerals by 18.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 55,519 shares of the mining company’s stock valued at $270,000 after purchasing an additional 8,563 shares in the last quarter. Finally, Barclays PLC increased its stake in Hudbay Minerals by 7.1% during the 3rd quarter. Barclays PLC now owns 63,154 shares of the mining company’s stock valued at $308,000 after purchasing an additional 4,169 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors.

Hudbay Minerals Stock Performance

HBM opened at $8.64 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 43.18, a PEG ratio of 0.82 and a beta of 1.95. The company’s 50 day moving average is $6.85 and its 200 day moving average is $5.63. Hudbay Minerals Inc. has a 12-month low of $3.94 and a 12-month high of $8.65.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $602.20 million for the quarter, compared to the consensus estimate of $552.74 million. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The firm’s revenue was up 87.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 earnings per share. On average, equities research analysts predict that Hudbay Minerals Inc. will post 0.4 EPS for the current year.

Hudbay Minerals Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.0074 per share. This represents a yield of 0.3%. The ex-dividend date of this dividend was Monday, March 4th. Hudbay Minerals’s dividend payout ratio is currently 5.00%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Raymond James raised their price target on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Stifel Nicolaus assumed coverage on shares of Hudbay Minerals in a report on Tuesday, March 26th. They set a “buy” rating on the stock. Bank of America raised shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a report on Tuesday, April 9th. Finally, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, March 29th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Hudbay Minerals has an average rating of “Buy” and a consensus price target of $9.75.

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.