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

Jennison Associates LLC grew its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 10.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,464,679 shares of the mining company’s stock after acquiring an additional 140,312 shares during the period. Jennison Associates LLC owned about 0.42% of Hudbay Minerals worth $8,059,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bank of Nova Scotia raised its stake in shares of Hudbay Minerals by 19.1% during the third quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock valued at $121,000 after acquiring an additional 3,979 shares during the last quarter. Shell Asset Management Co. raised its stake in shares of Hudbay Minerals by 38.6% during the third quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company’s stock valued at $128,000 after acquiring an additional 7,300 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Hudbay Minerals during the third quarter valued at $195,000. Vanguard Personalized Indexing Management LLC raised its stake in shares of Hudbay Minerals by 18.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 55,519 shares of the mining company’s stock valued at $270,000 after acquiring an additional 8,563 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Hudbay Minerals by 7.1% during the third quarter. Barclays PLC now owns 63,154 shares of the mining company’s stock worth $308,000 after buying an additional 4,169 shares during the period. Institutional investors own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HBM shares. Raymond James increased their price objective on shares of Hudbay Minerals from $9.00 to $10.50 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Bank of America upgraded shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Tuesday, April 9th. Stifel Nicolaus started coverage on shares of Hudbay Minerals in a research report on Tuesday, March 26th. They set a “buy” rating for the company. Finally, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $9.75.

Hudbay Minerals Trading Up 6.3 %

NYSE: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 stock has a market capitalization 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 firm has a fifty day simple moving average of $6.85 and a two-hundred day simple moving average of $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 results on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The business had revenue of $602.20 million during the quarter, compared to analysts’ expectations of $552.74 million. During the same period last year, the company posted $0.01 earnings per share. The business’s quarterly revenue was up 87.5% on a year-over-year basis. Analysts expect that Hudbay Minerals Inc. will post 0.4 EPS for the current fiscal year.

Hudbay Minerals Cuts Dividend

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

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.