Hudbay Minerals Inc. (NYSE:HBM) Short Interest Up 5.6% in December

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 5,130,000 shares, a growth 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 short-interest ratio is presently 1.5 days.

Institutional Investors Weigh In On Hudbay Minerals

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

Hudbay Minerals Price Performance

Shares of NYSE HBM opened at $8.10 on Thursday. 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 has a 1-year low of $4.94 and a 1-year high of $10.49. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 35.22 and a beta of 1.77. The business has a 50-day moving average of $8.83 and a 200-day 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 earnings per share 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 firm had revenue of $485.80 million during the quarter, compared to analysts’ expectations of $454.47 million. During the same quarter in the prior year, the business earned $0.07 EPS. Hudbay Minerals’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Hudbay Minerals will post 0.55 EPS for the current fiscal year.

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 investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target 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.