Hudbay Minerals Inc. (NYSE:HBM) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC raised its stake in shares of Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,306,276 shares of the mining company’s stock after purchasing an additional 7,462 shares during the period. Jennison Associates LLC owned 0.84% of Hudbay Minerals worth $26,805,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HBM. Mountaineer Partners Management LLC increased its holdings in shares of Hudbay Minerals by 792.5% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock worth $94,874,000 after buying an additional 9,166,952 shares during the last quarter. Bank of Montreal Can increased its stake in Hudbay Minerals by 23.1% during the third quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company’s stock worth $71,308,000 after acquiring an additional 1,441,991 shares during the last quarter. Donald Smith & CO. Inc. raised its holdings in shares of Hudbay Minerals by 31.9% in the 3rd quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company’s stock worth $34,451,000 after purchasing an additional 906,417 shares during the period. Regal Partners Ltd lifted its stake in shares of Hudbay Minerals by 5.4% in the 3rd quarter. Regal Partners Ltd now owns 2,673,518 shares of the mining company’s stock valued at $24,570,000 after purchasing an additional 136,943 shares in the last quarter. Finally, Galibier Capital Management Ltd. lifted its stake in shares of Hudbay Minerals by 3.7% in the 4th quarter. Galibier Capital Management Ltd. now owns 2,613,432 shares of the mining company’s stock valued at $21,188,000 after purchasing an additional 92,324 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals Trading Up 5.4 %

Shares of HBM opened at $8.65 on Wednesday. Hudbay Minerals Inc. has a 12 month low of $4.94 and a 12 month high of $10.49. The stock’s 50-day moving average is $8.57 and its two-hundred day moving average is $8.46. 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 stock has a market cap of $3.42 billion, a PE ratio of 37.62 and a beta of 1.74.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.04 by $0.09. The firm had revenue of $485.80 million for the quarter, compared to analyst estimates of $454.47 million. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. Hudbay Minerals’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 EPS. Equities analysts forecast that Hudbay Minerals Inc. will post 0.52 earnings per share for the current fiscal year.

Hudbay Minerals 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.