Renaissance Technologies LLC decreased its stake in HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) by 52.1% during the first quarter, Holdings Channel reports. The fund owned 351,832 shares of the mining company’s stock after selling 382,731 shares during the period. Renaissance Technologies LLC’s holdings in HudBay Minerals were worth $2,304,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of HBM. Quantbot Technologies LP purchased a new position in HudBay Minerals during the first quarter valued at $118,000. Massachusetts Financial Services Co. MA purchased a new position in HudBay Minerals during the first quarter valued at $127,000. ARP Americas LLC purchased a new position in HudBay Minerals during the first quarter valued at $140,000. Oxford Asset Management purchased a new position in HudBay Minerals during the first quarter valued at $159,000. Finally, Acrospire Investment Management LLC boosted its position in HudBay Minerals by 79.5% in the first quarter. Acrospire Investment Management LLC now owns 24,367 shares of the mining company’s stock valued at $160,000 after buying an additional 10,789 shares during the last quarter. Hedge funds and other institutional investors own 62.43% of the company’s stock.
Shares of HudBay Minerals Inc (NYSE:HBM) traded down 3.68% during midday trading on Thursday, reaching $7.85. 217,210 shares of the company were exchanged. The company has a market capitalization of $1.86 billion, a P/E ratio of 196.25 and a beta of 3.29. HudBay Minerals Inc has a 52-week low of $3.57 and a 52-week high of $9.15. The stock has a 50-day moving average price of $6.90 and a 200 day moving average price of $6.60.
The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.008 per share. This represents a yield of 0.22%. The ex-dividend date is Thursday, September 7th. HudBay Minerals’s payout ratio is 50.01%.
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HBM has been the topic of several research analyst reports. TheStreet upgraded shares of HudBay Minerals from a “d+” rating to a “c-” rating in a report on Monday. Zacks Investment Research upgraded shares of HudBay Minerals from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Raymond James Financial, Inc. restated an “outperform” rating on shares of HudBay Minerals in a report on Tuesday. ValuEngine cut shares of HudBay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, BidaskClub upgraded shares of HudBay Minerals from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. HudBay Minerals presently has an average rating of “Hold” and a consensus target price of $8.06.
About HudBay Minerals
Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.
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