Hudbay Minerals Inc. (NYSE:HBM) Sees Significant Increase in Short Interest

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 5,130,000 shares, an increase of 5.6% from the November 30th total of 4,860,000 shares. Based on an average daily volume of 3,480,000 shares, the days-to-cover ratio is currently 1.5 days.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Hudbay Minerals presently has an average rating of “Buy” and a consensus target price of $11.17.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HBM. Northwest & Ethical Investments L.P. lifted its holdings in Hudbay Minerals by 0.8% in the third quarter. Northwest & Ethical Investments L.P. now owns 197,289 shares of the mining company’s stock worth $1,815,000 after purchasing an additional 1,487 shares during the period. Van ECK Associates Corp raised its position in shares of Hudbay Minerals by 0.4% during the 3rd quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company’s stock worth $4,213,000 after buying an additional 1,960 shares in the last quarter. MQS Management LLC lifted its stake in shares of Hudbay Minerals by 8.2% in the 3rd quarter. MQS Management LLC now owns 34,231 shares of the mining company’s stock worth $315,000 after acquiring an additional 2,592 shares during the period. FMR LLC boosted its holdings in shares of Hudbay Minerals by 0.7% in the third quarter. FMR LLC now owns 354,392 shares of the mining company’s stock valued at $3,260,000 after acquiring an additional 2,624 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Hudbay Minerals by 4.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company’s stock valued at $674,000 after acquiring an additional 2,905 shares in the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

Hudbay Minerals Trading Up 1.3 %

Shares of NYSE:HBM opened at $8.10 on Thursday. Hudbay Minerals has a fifty-two week low of $4.94 and a fifty-two week high of $10.49. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The company has a market cap of $3.19 billion, a PE ratio of 35.22 and a beta of 1.77. The company’s 50-day moving average price is $8.83 and its 200 day moving average price is $8.54.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.09. The business had revenue of $485.80 million during the quarter, compared to the consensus estimate of $454.47 million. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 earnings per share. Sell-side analysts anticipate that Hudbay Minerals will post 0.55 earnings per share for the current 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.