Hudbay Minerals Inc. (NYSE:HBM) Short Interest Up 52.4% in February

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 9,100,000 shares, an increase of 52.4% from the February 13th total of 5,970,000 shares. Currently, 2.3% of the company’s stock are sold short. Based on an average daily volume of 6,160,000 shares, the days-to-cover ratio is presently 1.5 days.

Hudbay Minerals Stock Performance

Shares of HBM traded up $0.35 during trading hours on Monday, reaching $8.08. 9,358,660 shares of the company traded hands, compared to its average volume of 3,941,416. 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 business has a fifty day moving average price of $8.18 and a 200-day moving average price of $8.49. Hudbay Minerals has a 12-month low of $6.42 and a 12-month high of $10.49. The stock has a market capitalization of $3.19 billion, a P/E ratio of 44.86 and a beta of 1.72.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The firm had revenue of $584.90 million for the quarter, compared to analysts’ expectations of $588.28 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. Equities analysts anticipate that Hudbay Minerals will post 0.79 EPS for the current fiscal year.

Hudbay Minerals Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.007 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. This represents a yield of 0.2%. Hudbay Minerals’s dividend payout ratio (DPR) is currently 5.56%.

Institutional Trading of Hudbay Minerals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its position in Hudbay Minerals by 9,877.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company’s stock valued at $25,000 after purchasing an additional 3,062 shares during the period. Prospera Private Wealth LLC acquired a new stake in Hudbay Minerals during the third quarter worth about $28,000. Algert Global LLC acquired a new position in Hudbay Minerals in the fourth quarter valued at approximately $86,000. Plato Investment Management Ltd purchased a new stake in Hudbay Minerals in the 4th quarter worth approximately $95,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Hudbay Minerals during the 4th quarter worth approximately $97,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, 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.