Renaissance Technologies LLC Has $18.44 Million Stock Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Renaissance Technologies LLC lifted its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 11.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,276,609 shares of the mining company’s stock after acquiring an additional 238,500 shares during the period. Renaissance Technologies LLC’s holdings in Hudbay Minerals were worth $18,441,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Toronto Dominion Bank boosted its holdings in Hudbay Minerals by 300.9% in the third quarter. Toronto Dominion Bank now owns 226,841 shares of the mining company’s stock worth $2,085,000 after acquiring an additional 170,257 shares in the last quarter. Barclays PLC lifted its holdings in shares of Hudbay Minerals by 2,414.5% in the 3rd quarter. Barclays PLC now owns 86,475 shares of the mining company’s stock worth $795,000 after purchasing an additional 83,036 shares in the last quarter. Artemis Investment Management LLP grew its position in Hudbay Minerals by 13.3% in the 4th quarter. Artemis Investment Management LLP now owns 2,574,709 shares of the mining company’s stock valued at $20,858,000 after purchasing an additional 301,455 shares during the period. HighTower Advisors LLC bought a new stake in Hudbay Minerals during the 3rd quarter valued at $413,000. Finally, Tidal Investments LLC acquired a new position in Hudbay Minerals during the third quarter worth $886,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Stock Up 5.6 %

HBM opened at $6.89 on Monday. Hudbay Minerals Inc. has a fifty-two week low of $5.95 and a fifty-two week high of $10.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The company’s 50-day moving average is $7.69 and its 200 day moving average is $8.44. The firm has a market capitalization of $2.72 billion, a P/E ratio of 38.25 and a beta of 1.62.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Wednesday, February 19th. The mining company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The firm had revenue of $584.90 million for the quarter, compared to the consensus estimate of $588.28 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. Hudbay Minerals’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 EPS. Research analysts expect that Hudbay Minerals Inc. will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th were paid a $0.007 dividend. This represents a yield of 0.2%. The ex-dividend date was Tuesday, March 4th. This is an increase from Hudbay Minerals’s previous semi-annual dividend of $0.01. Hudbay Minerals’s dividend payout ratio is 5.56%.

Analysts Set New Price Targets

HBM has been the subject of a number of analyst reports. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Desjardins assumed coverage on Hudbay Minerals in a report on Friday, April 4th. They set a “buy” rating for the company. Finally, Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a report on Wednesday, March 19th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $14.00.

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.