Renaissance Technologies LLC Raises Stock Position in Hudbay Minerals Inc. (NYSE:HBM)

Renaissance Technologies LLC raised its stake in Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 11.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,276,609 shares of the mining company's stock after purchasing an additional 238,500 shares during the period. Renaissance Technologies LLC owned 0.58% of Hudbay Minerals worth $18,441,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Plato Investment Management Ltd bought a new stake in Hudbay Minerals during the 4th quarter valued at $95,000. Smith Moore & CO. lifted its stake in Hudbay Minerals by 28.4% during the 4th quarter. Smith Moore & CO. now owns 13,716 shares of the mining company's stock valued at $111,000 after acquiring an additional 3,032 shares in the last quarter. First Affirmative Financial Network grew its stake in Hudbay Minerals by 39.2% in the 4th quarter. First Affirmative Financial Network now owns 15,563 shares of the mining company's stock valued at $126,000 after purchasing an additional 4,386 shares during the period. Quantbot Technologies LP bought a new stake in shares of Hudbay Minerals during the 4th quarter worth $133,000. Finally, Ballentine Partners LLC raised its position in Hudbay Minerals by 32.1% in the fourth quarter. Ballentine Partners LLC now owns 20,820 shares of the mining company's stock worth $169,000 after acquiring an additional 5,064 shares during the period. Institutional investors own 57.82% of the company's stock.

Hudbay Minerals Trading Down 0.3 %

Hudbay Minerals stock traded down $0.02 during mid-day trading on Friday, reaching $7.04. 6,438,641 shares of the company traded hands, compared to its average volume of 4,720,143. The firm's 50 day moving average price is $7.52 and its 200 day moving average price is $8.39. Hudbay Minerals Inc. has a 52-week low of $5.95 and a 52-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 firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 39.12 and a beta of 1.62.

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

Hudbay Minerals Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th were given a dividend of $0.007 per share. This is a boost from Hudbay Minerals's previous semi-annual dividend of $0.01. This represents a dividend yield of 0.2%. The ex-dividend date was Tuesday, March 4th. Hudbay Minerals's payout ratio is presently 5.56%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Stifel Canada upgraded Hudbay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. BMO Capital Markets assumed coverage on Hudbay Minerals in a research note on Wednesday. They issued an "outperform" rating on the stock. Desjardins assumed coverage on shares of Hudbay Minerals in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $14.00.

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.