D. E. Shaw & Co. Inc. Purchases 1,624,900 Shares of Hudbay Minerals Inc. (NYSE:HBM)

D. E. Shaw & Co. Inc. lifted its position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 158.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,648,536 shares of the mining company’s stock after acquiring an additional 1,624,900 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.67% of Hudbay Minerals worth $23,970,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Hudbay Minerals by 3.2% during the first quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock worth $60,861,000 after purchasing an additional 272,635 shares during the last quarter. Condire Management LP boosted its position in Hudbay Minerals by 4.2% in the 1st quarter. Condire Management LP now owns 4,226,553 shares of the mining company’s stock valued at $29,586,000 after buying an additional 169,310 shares during the period. Dimensional Fund Advisors LP grew its stake in Hudbay Minerals by 24.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,545,340 shares of the mining company’s stock worth $32,084,000 after acquiring an additional 702,170 shares in the last quarter. TD Asset Management Inc increased its position in shares of Hudbay Minerals by 199.4% during the second quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock worth $26,294,000 after acquiring an additional 1,935,709 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Hudbay Minerals by 92.7% during the first quarter. Jennison Associates LLC now owns 2,821,920 shares of the mining company’s stock valued at $19,757,000 after acquiring an additional 1,357,241 shares in the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Stock Performance

HBM stock opened at $9.28 on Friday. Hudbay Minerals Inc. has a one year low of $3.94 and a one year high of $10.49. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 40.35 and a beta of 1.77. 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 firm has a 50-day simple moving average of $7.76 and a two-hundred day simple moving average of $8.24.

Hudbay Minerals Cuts Dividend

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

Wall Street Analyst Weigh In

Several research analysts have commented on HBM shares. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. StockNews.com downgraded Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Hudbay Minerals currently has a consensus rating of “Buy” and a consensus price target of $10.88.

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.