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

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) was the recipient of a significant increase in short interest during 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 trading volume of 3,480,000 shares, the days-to-cover ratio is currently 1.5 days.

Hudbay Minerals Price Performance

HBM opened at $8.51 on Friday. The stock has a market cap of $3.35 billion, a P/E ratio of 37.00 and a beta of 1.77. Hudbay Minerals has a 12 month low of $4.94 and a 12 month 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 fifty day simple moving average of $8.81 and a 200 day simple moving average of $8.54.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $454.47 million. During the same quarter last year, the firm posted $0.07 earnings per share. Hudbay Minerals’s revenue was up 1.1% compared to the same quarter last year. On average, research analysts expect that Hudbay Minerals will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in shares of Hudbay Minerals in the third quarter valued at approximately $28,000. Exchange Traded Concepts LLC acquired a new stake in Hudbay Minerals in the 3rd quarter valued at $53,000. Clear Harbor Asset Management LLC bought a new stake in Hudbay Minerals during the 3rd quarter worth about $92,000. Ritholtz Wealth Management acquired a new position in shares of Hudbay Minerals during the 2nd quarter worth about $96,000. Finally, Armistice Capital LLC bought a new position in shares of Hudbay Minerals in the 2nd quarter valued at about $97,000. 57.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.