Two Sigma Investments LP Lowers Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Two Sigma Investments LP reduced its position in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 15.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,746,680 shares of the mining company's stock after selling 322,000 shares during the period. Two Sigma Investments LP owned about 0.44% of Hudbay Minerals worth $14,148,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in HBM. Norges Bank bought a new stake in Hudbay Minerals in the fourth quarter valued at approximately $50,260,000. Dimensional Fund Advisors LP boosted its holdings in Hudbay Minerals by 86.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company's stock valued at $74,105,000 after acquiring an additional 4,253,400 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Hudbay Minerals in the fourth quarter valued at approximately $17,657,000. American Century Companies Inc. boosted its holdings in Hudbay Minerals by 102.4% in the fourth quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company's stock valued at $34,684,000 after acquiring an additional 2,163,000 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Hudbay Minerals by 111.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,777,571 shares of the mining company's stock valued at $30,602,000 after acquiring an additional 1,994,431 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HBM. Scotiabank reiterated an "outperform" rating on shares of Hudbay Minerals in a report on Tuesday, May 13th. Wall Street Zen raised Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. BMO Capital Markets started coverage on Hudbay Minerals in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. Stifel Canada raised Hudbay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, Desjardins started coverage on Hudbay Minerals in a research report on Friday, April 4th. They set a "buy" rating on the stock. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Hudbay Minerals presently has a consensus rating of "Buy" and an average target price of $14.00.

Hudbay Minerals Price Performance

Shares of NYSE:HBM traded up $0.07 on Thursday, hitting $9.09. The company's stock had a trading volume of 3,980,498 shares, compared to its average volume of 4,901,260. The company has a 50-day simple moving average of $7.60 and a 200 day simple moving average of $8.11. Hudbay Minerals Inc. has a 1 year low of $5.95 and a 1 year high of $9.92. The company has a market capitalization of $3.59 billion, a PE ratio of 50.42 and a beta of 1.56. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47.

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 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.14. The company had revenue of $594.90 million for the quarter, compared to analysts' expectations of $537.36 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. Hudbay Minerals's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm posted $0.22 EPS. Sell-side analysts forecast that Hudbay Minerals Inc. will post 0.79 EPS for the current fiscal year.

Hudbay Minerals Company 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.