Point72 Asset Management L.P. Has $345,000 Stake in Hudbay Minerals Inc. (NYSE:HBM)

Point72 Asset Management L.P. lifted its position in Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) by 125.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,100 shares of the mining company’s stock after purchasing an additional 21,200 shares during the quarter. Point72 Asset Management L.P.’s holdings in Hudbay Minerals were worth $345,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. CIBC Asset Management Inc grew its position in Hudbay Minerals by 2.1% in the fourth quarter. CIBC Asset Management Inc now owns 351,911 shares of the mining company’s stock valued at $1,942,000 after acquiring an additional 7,161 shares during the period. Goehring & Rozencwajg Associates LLC lifted its stake in Hudbay Minerals by 3.3% in the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 611,969 shares of the mining company’s stock valued at $3,373,000 after buying an additional 19,805 shares during the period. Orchard Capital Management LLC acquired a new position in Hudbay Minerals in the fourth quarter valued at about $3,713,000. Banque Cantonale Vaudoise lifted its stake in Hudbay Minerals by 38.7% in the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after buying an additional 1,806 shares during the period. Finally, Ballentine Partners LLC acquired a new position in Hudbay Minerals in the first quarter valued at about $85,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Stock Up 2.1 %

Shares of Hudbay Minerals stock opened at $9.40 on Friday. The business’s 50 day simple moving average is $7.88 and its 200 day simple moving average is $8.32. Hudbay Minerals Inc. has a 52-week low of $3.94 and a 52-week high of $10.49. The firm has a market cap of $3.70 billion, a PE ratio of 40.87 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.

Hudbay Minerals Cuts Dividend

The business also recently declared 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 was Tuesday, September 3rd. This represents a yield of 0.2%. Hudbay Minerals’s dividend payout ratio is 4.35%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on HBM shares. Jefferies Financial Group raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. Finally, StockNews.com lowered Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Company 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.