Short Interest in Hudbay Minerals Inc. (NYSE:HBM) Grows By 19.1%

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 5,490,000 shares, a growth of 19.1% from the October 31st total of 4,610,000 shares. Based on an average daily volume of 3,340,000 shares, the short-interest ratio is currently 1.6 days.

Institutional Trading of Hudbay Minerals

A number of large investors have recently bought and sold shares of HBM. Vanguard Group Inc. grew its holdings in Hudbay Minerals by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock worth $60,861,000 after acquiring an additional 272,635 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Hudbay Minerals by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 458,347 shares of the mining company’s stock worth $3,209,000 after purchasing an additional 50,126 shares in the last quarter. Boston Partners boosted its position in shares of Hudbay Minerals by 29.1% during the 1st quarter. Boston Partners now owns 552,226 shares of the mining company’s stock worth $3,866,000 after purchasing an additional 124,376 shares in the last quarter. Strong Tower Advisory Services bought a new position in shares of Hudbay Minerals during the 2nd quarter worth about $518,000. Finally, Blue Trust Inc. boosted its position in shares of Hudbay Minerals by 60,870.8% during the 2nd quarter. Blue Trust Inc. now owns 14,633 shares of the mining company’s stock worth $132,000 after purchasing an additional 14,609 shares in the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

Hudbay Minerals Stock Performance

NYSE HBM opened at $8.76 on Tuesday. 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 stock has a fifty day simple moving average of $9.12 and a 200 day simple moving average of $8.69. Hudbay Minerals has a twelve month low of $4.51 and a twelve month high of $10.49. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 38.07 and a beta of 1.78.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued 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 the consensus estimate of $454.47 million. During the same period last year, the business posted $0.07 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. Sell-side analysts expect that Hudbay Minerals will post 0.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Five equities research 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, the company presently has an average rating of “Buy” and an average 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.