Hudbay Minerals Inc. (NYSE:HBM) Short Interest Down 7.8% in January

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 5,580,000 shares, a drop of 7.8% from the January 15th total of 6,050,000 shares. Based on an average daily trading volume, of 4,640,000 shares, the days-to-cover ratio is presently 1.2 days.

Hedge Funds Weigh In On Hudbay Minerals

Hedge funds have recently bought and sold shares of the business. Pictet Asset Management Holding SA grew its position in shares of Hudbay Minerals by 2.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 66,380 shares of the mining company’s stock worth $538,000 after purchasing an additional 1,278 shares in the last quarter. Northwest & Ethical Investments L.P. grew its position in 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 worth $1,815,000 after buying an additional 1,487 shares in the last quarter. Van ECK Associates Corp increased its stake in Hudbay Minerals by 0.4% during the 3rd quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company’s stock worth $4,213,000 after acquiring an additional 1,960 shares during the period. Sprott Inc. increased its stake in Hudbay Minerals by 3.5% during the 4th quarter. Sprott Inc. now owns 63,662 shares of the mining company’s stock worth $516,000 after acquiring an additional 2,162 shares during the period. Finally, MQS Management LLC raised its holdings in Hudbay Minerals by 8.2% in the 3rd quarter. MQS Management LLC now owns 34,231 shares of the mining company’s stock valued at $315,000 after acquiring an additional 2,592 shares in the last quarter. 57.82% of the stock is owned by institutional investors.

Hudbay Minerals Stock Performance

HBM stock traded down $0.21 during trading hours on Tuesday, hitting $8.95. 9,530,862 shares of the stock were exchanged, compared to its average volume of 6,143,717. The company has a 50-day simple moving average of $8.60 and a two-hundred day simple moving average of $8.54. The firm has a market capitalization of $3.53 billion, a P/E ratio of 38.89 and a beta of 1.74. Hudbay Minerals has a 12 month low of $5.22 and a 12 month high of $10.49. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44.

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 given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Company Profile

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.