Jennison Associates LLC Decreases Position in HudBay Minerals Inc (NYSE:HBM)

Jennison Associates LLC lessened its holdings in shares of HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM by 17.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,733,702 shares of the mining company's stock after selling 572,574 shares during the period. Jennison Associates LLC owned approximately 0.69% of HudBay Minerals worth $20,735,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of HBM. Pictet Asset Management Holding SA grew its holdings in HudBay Minerals by 2.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company's stock valued at $538,000 after purchasing an additional 1,278 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in HudBay Minerals by 64.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock valued at $29,000 after acquiring an additional 1,481 shares during the last quarter. Alliancebernstein L.P. increased its holdings in HudBay Minerals by 3.9% during the 4th quarter. Alliancebernstein L.P. now owns 72,730 shares of the mining company's stock valued at $589,000 after acquiring an additional 2,740 shares in the last quarter. Smith Moore & CO. increased its holdings 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. Finally, Tower Research Capital LLC TRC raised its position in HudBay Minerals by 9,877.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock worth $25,000 after acquiring an additional 3,062 shares during the last quarter. Hedge funds and other institutional investors own 57.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wall Street Zen lowered shares of HudBay Minerals from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. BMO Capital Markets initiated coverage on HudBay Minerals in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. CIBC reissued an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. Desjardins initiated coverage on HudBay Minerals in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, Raymond James Financial raised HudBay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. Six 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 currently has a consensus rating of "Buy".

HudBay Minerals Trading Down 1.9%

NYSE HBM traded down $0.20 during mid-day trading on Thursday, reaching $10.13. 5,465,550 shares of the stock were exchanged, compared to its average volume of 7,478,547. The stock has a market capitalization of $4.01 billion, a PE ratio of 26.65, a PEG ratio of 0.29 and a beta of 1.63. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.92 and a current ratio of 2.32. HudBay Minerals Inc has a 1-year low of $5.95 and a 1-year high of $11.13. The business's fifty day simple moving average is $9.76 and its 200 day simple moving average is $8.50.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings data on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.14. HudBay Minerals had a return on equity of 8.17% and a net margin of 7.40%. The business had revenue of $594.90 million during the quarter, compared to the consensus estimate of $537.36 million. During the same quarter in the previous year, the business earned $0.22 earnings per share. The business's revenue for the quarter was up 13.3% on a year-over-year basis. On average, research analysts anticipate that HudBay Minerals Inc will post 0.79 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.