Hudbay Minerals Inc (NYSE:HBM) Position Lessened by Renaissance Group LLC

Renaissance Group LLC lessened its holdings in shares of Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) by 19.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 120,908 shares of the mining company’s stock after selling 29,366 shares during the period. Renaissance Group LLC’s holdings in Hudbay Minerals were worth $863,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. Neuberger Berman Group LLC increased its holdings in Hudbay Minerals by 140.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 33,356 shares of the mining company’s stock worth $169,000 after buying an additional 19,477 shares during the period. Vanguard Group Inc. increased its holdings in Hudbay Minerals by 7.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,992,044 shares of the mining company’s stock worth $30,260,000 after buying an additional 409,896 shares during the period. Vanguard Group Inc increased its holdings in Hudbay Minerals by 7.3% in the 3rd quarter. Vanguard Group Inc now owns 5,992,044 shares of the mining company’s stock worth $30,260,000 after buying an additional 409,896 shares during the period. James Investment Research Inc. increased its holdings in Hudbay Minerals by 13.0% in the 4th quarter. James Investment Research Inc. now owns 36,577 shares of the mining company’s stock worth $173,000 after buying an additional 4,210 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Hudbay Minerals by 8.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 117,260 shares of the mining company’s stock worth $555,000 after buying an additional 9,400 shares during the period. Institutional investors own 65.79% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Credit Suisse Group raised shares of Hudbay Minerals from a “neutral” rating to an “outperform” rating in a research note on Monday, March 11th. Canaccord Genuity cut shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Wednesday, February 20th. Raymond James cut shares of Hudbay Minerals from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 21st. BMO Capital Markets reaffirmed a “buy” rating on shares of Hudbay Minerals in a research note on Tuesday, March 5th. Finally, ValuEngine raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $8.05.

Shares of NYSE HBM traded up $0.18 during midday trading on Friday, reaching $4.74. 703,996 shares of the stock were exchanged, compared to its average volume of 904,129. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 4.63 and a beta of 2.82. Hudbay Minerals Inc has a twelve month low of $3.44 and a twelve month high of $7.83. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.64 and a quick ratio of 2.14.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Monday, May 6th. The mining company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. Hudbay Minerals had a net margin of 2.22% and a return on equity of 3.07%. The business had revenue of $292.30 million for the quarter, compared to analysts’ expectations of $314.70 million. During the same quarter last year, the company earned $0.16 EPS. The business’s revenue was down 24.4% on a year-over-year basis. Analysts anticipate that Hudbay Minerals Inc will post 0.19 earnings per share for the current fiscal year.

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Hudbay Minerals Profile

Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.

Further Reading: Commodities

Institutional Ownership by Quarter for Hudbay Minerals (NYSE:HBM)

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