Renaissance Group LLC Takes $6.77 Million Position in HudBay Minerals Inc $HBM

Renaissance Group LLC acquired a new stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 340,979 shares of the mining company’s stock, valued at approximately $6,768,000. Renaissance Group LLC owned approximately 0.09% of HudBay Minerals as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its holdings in HudBay Minerals by 107.9% during the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after purchasing an additional 1,033 shares during the last quarter. Quarry LP acquired a new stake in shares of HudBay Minerals in the third quarter worth $38,000. IFP Advisors Inc bought a new stake in shares of HudBay Minerals during the 3rd quarter worth $45,000. Banque Cantonale Vaudoise boosted its holdings in shares of HudBay Minerals by 513.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after buying an additional 2,655 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in HudBay Minerals by 131.6% in the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after buying an additional 3,733 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HBM has been the topic of a number of recent analyst reports. Weiss Ratings lowered HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday. Citigroup upped their target price on shares of HudBay Minerals from $23.00 to $32.50 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Wall Street Zen raised shares of HudBay Minerals from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Zacks Research lowered shares of HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Barclays initiated coverage on shares of HudBay Minerals in a report on Thursday, May 21st. They set an “overweight” rating and a $30.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, HudBay Minerals has an average rating of “Buy” and a consensus price target of $27.33.

HudBay Minerals Stock Down 3.7%

Shares of NYSE HBM opened at $24.64 on Thursday. HudBay Minerals Inc has a 52-week low of $8.93 and a 52-week high of $32.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 1.36. The business has a fifty day moving average of $25.03 and a two-hundred day moving average of $22.89. The stock has a market cap of $9.79 billion, a PE ratio of 14.84, a PEG ratio of 0.30 and a beta of 1.43.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. The business had revenue of $757.30 million for the quarter, compared to analyst estimates of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 EPS. As a group, equities research analysts expect that HudBay Minerals Inc will post 1.66 earnings per share for the current fiscal year.

HudBay Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is 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 presently 1.81%.

About HudBay Minerals

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.