Renaissance Technologies LLC Buys 366,300 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Renaissance Technologies LLC raised its stake in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 32.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,499,409 shares of the mining company’s stock after purchasing an additional 366,300 shares during the period. Renaissance Technologies LLC owned 0.38% of Hudbay Minerals worth $13,570,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HBM. Register Financial Advisors LLC bought a new stake in Hudbay Minerals in the 1st quarter valued at about $35,000. Banque Cantonale Vaudoise raised its position in shares of Hudbay Minerals by 38.7% during the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after purchasing an additional 1,806 shares during the period. Ballentine Partners LLC bought a new position in shares of Hudbay Minerals in the 1st quarter worth $85,000. Ritholtz Wealth Management acquired a new stake in Hudbay Minerals in the 2nd quarter valued at $96,000. Finally, Liontrust Investment Partners LLP bought a new stake in Hudbay Minerals during the 2nd quarter valued at $100,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Finally, Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $10.88.

Hudbay Minerals Stock Down 1.0 %

Hudbay Minerals stock opened at $7.82 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.86. The stock has a market cap of $3.08 billion, a PE ratio of 34.00 and a beta of 1.77. Hudbay Minerals Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $10.49. The firm’s 50-day simple moving average is $7.73 and its 200 day simple moving average is $8.17.

Hudbay Minerals Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 3rd were issued a $0.007 dividend. This represents a dividend yield of 0.2%. The ex-dividend date was Tuesday, September 3rd. Hudbay Minerals’s dividend payout ratio is presently 4.35%.

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.