Hudbay Minerals Inc. (NYSE:HBM) Short Interest Update

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) was the target of a large increase in short interest in 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 trading volume, of 3,480,000 shares, the short-interest ratio is presently 1.5 days.

Hedge Funds Weigh In On Hudbay Minerals

Institutional investors have recently modified their holdings of the stock. Prospera Private Wealth LLC bought a new position in Hudbay Minerals in the 3rd quarter worth approximately $28,000. Exchange Traded Concepts LLC bought a new stake in shares of Hudbay Minerals during the third quarter worth $53,000. Clear Harbor Asset Management LLC acquired a new position in shares of Hudbay Minerals during the third quarter valued at $92,000. Ritholtz Wealth Management bought a new position in Hudbay Minerals in the second quarter valued at about $96,000. Finally, Armistice Capital LLC acquired a new stake in Hudbay Minerals in the second quarter worth about $97,000. 57.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Hudbay Minerals Stock Up 5.1 %

Shares of HBM opened at $8.51 on Friday. The business’s 50 day simple moving average is $8.81 and its 200-day simple moving average is $8.54. Hudbay Minerals has a one year low of $4.94 and a one year high of $10.49. The company has a market capitalization of $3.35 billion, a P/E ratio of 37.00 and a beta of 1.77. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.04 by $0.09. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The company had revenue of $485.80 million for the quarter, compared to analysts’ expectations of $454.47 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, sell-side analysts predict that Hudbay Minerals will post 0.55 EPS for the current fiscal year.

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.