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

Jennison Associates LLC boosted its stake in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 12.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,298,814 shares of the mining company's stock after acquiring an additional 359,126 shares during the quarter. Jennison Associates LLC owned 0.84% of Hudbay Minerals worth $30,340,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new position in shares of Hudbay Minerals in the third quarter worth about $28,000. Exchange Traded Concepts LLC acquired a new position in Hudbay Minerals during the third quarter worth $53,000. Clear Harbor Asset Management LLC purchased a new stake in Hudbay Minerals in the 3rd quarter valued at $92,000. Ritholtz Wealth Management acquired a new stake in shares of Hudbay Minerals in the 2nd quarter worth $96,000. Finally, Armistice Capital LLC acquired a new stake in shares of Hudbay Minerals in the 2nd quarter worth $97,000. Hedge funds and other institutional investors own 57.82% of the company's stock.

Hudbay Minerals Trading Down 0.2 %

Shares of NYSE HBM traded down $0.02 during trading on Friday, reaching $9.11. The stock had a trading volume of 987,198 shares, compared to its average volume of 3,094,699. The business's 50-day moving average price is $8.96 and its 200-day moving average price is $8.70. Hudbay Minerals Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $10.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. The company has a market cap of $3.59 billion, a P/E ratio of 39.31 and a beta of 1.78.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.09. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The company had revenue of $485.80 million for the quarter, compared to analyst estimates of $454.47 million. During the same period in the prior year, the firm earned $0.07 earnings per share. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities research analysts predict that Hudbay Minerals Inc. will post 0.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HBM. StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, November 15th. Jefferies Financial Group upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Wednesday, August 14th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $11.17.

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.