Jennison Associates LLC Purchases 140,312 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Jennison Associates LLC lifted its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 10.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,464,679 shares of the mining company's stock after buying an additional 140,312 shares during the period. Jennison Associates LLC owned 0.42% of Hudbay Minerals worth $8,059,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Foundry Partners LLC grew its position in shares of Hudbay Minerals by 3.0% during the 4th quarter. Foundry Partners LLC now owns 1,051,600 shares of the mining company's stock valued at $5,805,000 after buying an additional 30,696 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Hudbay Minerals during the 4th quarter valued at about $14,618,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Hudbay Minerals by 6.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,641 shares of the mining company's stock valued at $396,000 after purchasing an additional 4,655 shares during the period. Mackenzie Financial Corp boosted its stake in Hudbay Minerals by 33.8% during the 4th quarter. Mackenzie Financial Corp now owns 5,014,948 shares of the mining company's stock valued at $27,604,000 after purchasing an additional 1,266,717 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Hudbay Minerals by 28.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company's stock valued at $51,836,000 after purchasing an additional 2,085,641 shares during the period. Institutional investors own 57.82% of the company's stock.

Hudbay Minerals Price Performance

Shares of NYSE:HBM traded up $0.51 during trading on Friday, reaching $8.63. The company had a trading volume of 5,531,443 shares, compared to its average volume of 2,840,807. The firm's fifty day moving average is $6.85 and its 200 day moving average is $5.63. The firm has a market capitalization of $3.03 billion, a PE ratio of 43.15, a price-to-earnings-growth ratio of 0.86 and a beta of 1.95. Hudbay Minerals Inc. has a twelve month low of $3.94 and a twelve month high of $8.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.87 and a current ratio of 1.25.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its quarterly earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.06. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The company had revenue of $602.20 million during the quarter, compared to analyst estimates of $552.74 million. During the same period in the prior year, the business posted $0.01 EPS. The business's revenue for the quarter was up 87.5% compared to the same quarter last year. On average, equities analysts forecast that Hudbay Minerals Inc. will post 0.41 EPS for the current year.

Hudbay Minerals Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 5th were issued a $0.0074 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a dividend yield of 0.3%. Hudbay Minerals's payout ratio is currently 5.00%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HBM. Raymond James boosted their target price on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an "outperform" rating in a research note on Wednesday, March 20th. Bank of America raised shares of Hudbay Minerals from a "neutral" rating to a "buy" rating and set a $9.00 target price for the company in a research note on Tuesday, April 9th. Stifel Nicolaus began coverage on shares of Hudbay Minerals in a research note on Tuesday, March 26th. They set a "buy" rating for the company. Finally, StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Friday, March 29th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Hudbay Minerals presently has an average rating of "Buy" and a consensus price target of $9.75.

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.