Jennison Associates LLC Has $30.34 Million Holdings in Hudbay Minerals Inc. (NYSE:HBM)

Jennison Associates LLC lifted its position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 12.2% in the third quarter, HoldingsChannel.com reports. The firm owned 3,298,814 shares of the mining company’s stock after acquiring an additional 359,126 shares during the period. Jennison Associates LLC’s holdings in Hudbay Minerals were worth $30,340,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Regal Partners Ltd bought a new stake in Hudbay Minerals in the 2nd quarter valued at $22,956,000. Artemis Investment Management LLP acquired a new stake in shares of Hudbay Minerals during the 3rd quarter valued at about $20,907,000. TD Asset Management Inc increased its stake in Hudbay Minerals by 199.4% in the second quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock valued at $26,294,000 after acquiring an additional 1,935,709 shares during the period. Cubist Systematic Strategies LLC raised its position in Hudbay Minerals by 2,521.9% in the second quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock worth $15,861,000 after purchasing an additional 1,685,836 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new position in Hudbay Minerals during the second quarter worth about $14,718,000. 57.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on HBM. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Hudbay Minerals currently has a consensus rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals Stock Up 1.0 %

Shares of HBM opened at $9.11 on Friday. The business’s 50 day simple moving average is $8.96 and its 200-day simple moving average is $8.70. Hudbay Minerals Inc. has a one year low of $4.34 and a one year high of $10.49. The company has a market capitalization of $3.59 billion, a P/E ratio of 39.61 and a beta of 1.78. 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) (TSE:HBM) last announced its earnings results on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.04 by $0.09. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The company had revenue of $485.80 million for the quarter, compared to analysts’ expectations of $454.47 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, sell-side analysts predict that Hudbay Minerals Inc. will post 0.49 EPS 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.