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

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) was the target of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 4,860,000 shares, a decrease of 11.5% from the November 15th total of 5,490,000 shares. Based on an average daily trading volume, of 3,230,000 shares, the short-interest ratio is currently 1.5 days.

Institutional Investors Weigh In On Hudbay Minerals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mountaineer Partners Management LLC raised its stake in Hudbay Minerals by 792.5% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock valued at $94,874,000 after acquiring an additional 9,166,952 shares during the last quarter. Regal Partners Ltd acquired a new stake in shares of Hudbay Minerals during the second quarter worth $22,956,000. Artemis Investment Management LLP purchased a new position in Hudbay Minerals in the 3rd quarter valued at $20,907,000. TD Asset Management Inc increased its stake in Hudbay Minerals by 199.4% in the 2nd quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock valued at $26,294,000 after buying an additional 1,935,709 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in Hudbay Minerals by 2,521.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock worth $15,861,000 after buying an additional 1,685,836 shares during the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

Hudbay Minerals Stock Down 2.6 %

Hudbay Minerals stock traded down $0.22 during mid-day trading on Tuesday, reaching $8.36. 6,023,031 shares of the company’s stock were exchanged, compared to its average volume of 3,149,942. Hudbay Minerals has a twelve month low of $4.94 and a twelve month high of $10.49. The company has a market cap of $3.29 billion, a P/E ratio of 36.35 and a beta of 1.77. 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 moving average of $9.08 and a 200-day moving average of $8.61.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. Sell-side analysts expect that Hudbay Minerals will post 0.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Hudbay Minerals currently has an average rating of “Buy” and a consensus 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.