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

Jennison Associates LLC lifted its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 12.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,298,814 shares of the mining company’s stock after purchasing an additional 359,126 shares during the quarter. Jennison Associates LLC owned 0.84% of Hudbay Minerals worth $30,340,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

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

Hudbay Minerals Price Performance

HBM opened at $9.11 on Friday. The stock has a fifty day moving average price of $8.96 and a 200 day moving average price of $8.70. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. Hudbay Minerals Inc. has a 1 year low of $4.34 and a 1 year high of $10.49. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 39.61 and a beta of 1.78.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, beating 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 business had revenue of $485.80 million during the quarter, compared to analyst estimates of $454.47 million. During the same period in the previous year, the company earned $0.07 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. Analysts forecast that Hudbay Minerals Inc. will post 0.49 EPS for the current fiscal year.

About Hudbay Minerals

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.