Renaissance Technologies LLC Trims Stock Position in HudBay Minerals Inc $HBM

Renaissance Technologies LLC lessened its position in shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 19.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,755,509 shares of the mining company’s stock after selling 436,400 shares during the period. Renaissance Technologies LLC’s holdings in HudBay Minerals were worth $36,690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP lifted its stake in HudBay Minerals by 107.9% in the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock worth $30,000 after purchasing an additional 1,033 shares in the last quarter. Quarry LP purchased a new position in shares of HudBay Minerals during the 3rd quarter valued at $38,000. IFP Advisors Inc bought a new position in shares of HudBay Minerals in the third quarter worth $45,000. Banque Cantonale Vaudoise increased its holdings in shares of HudBay Minerals by 513.5% in the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after purchasing an additional 2,655 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in shares of HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after purchasing an additional 3,733 shares during the period. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

HudBay Minerals Stock Down 0.0%

Shares of HBM opened at $22.35 on Tuesday. HudBay Minerals Inc has a 1 year low of $8.93 and a 1 year high of $32.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20. The stock has a 50 day simple moving average of $24.82 and a two-hundred day simple moving average of $24.13. The firm has a market cap of $9.93 billion, a P/E ratio of 13.46, a P/E/G ratio of 0.34 and a beta of 1.48.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.34 by $0.06. The firm had revenue of $757.30 million for the quarter, compared to the consensus estimate of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The business’s revenue was up 27.3% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. On average, analysts forecast that HudBay Minerals Inc will post 1.6 earnings per share for the current fiscal year.

HudBay Minerals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Tuesday, June 9th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. HudBay Minerals’s dividend payout ratio (DPR) is currently 1.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HBM shares. Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, June 25th. Citigroup reaffirmed a “positive” rating on shares of HudBay Minerals in a report on Wednesday, July 15th. Barclays lifted their price target on HudBay Minerals from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings raised HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 29th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.33.

HudBay Minerals Company Profile

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.