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

Hudbay Minerals Inc. (NYSE:HBMGet Rating) (TSE:HBM) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 7,350,000 shares, an increase of 72.1% from the March 15th total of 4,270,000 shares. Approximately 3.4% of the company’s shares are short sold. Based on an average trading volume of 1,340,000 shares, the days-to-cover ratio is currently 5.5 days.

HBM has been the subject of a number of recent research reports. National Bank Financial boosted their target price on Hudbay Minerals from C$12.50 to C$13.00 in a research report on Friday, April 8th. Zacks Investment Research lowered shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Friday, January 28th. Stifel Nicolaus upped their target price on shares of Hudbay Minerals from C$15.00 to C$16.50 in a research report on Thursday, March 17th. Scotiabank upped their target price on shares of Hudbay Minerals from C$11.50 to C$12.00 in a research report on Wednesday. Finally, Raymond James upped their target price on shares of Hudbay Minerals from C$12.00 to C$14.00 and gave the company an “outperform” rating in a research report on Tuesday, January 18th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $13.64.

Hedge funds have recently modified their holdings of the company. Signaturefd LLC lifted its position in Hudbay Minerals by 111.3% in the 4th quarter. Signaturefd LLC now owns 5,279 shares of the mining company’s stock valued at $38,000 after acquiring an additional 2,781 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Hudbay Minerals by 122.9% in the 4th quarter. Quadrant Capital Group LLC now owns 6,183 shares of the mining company’s stock valued at $45,000 after purchasing an additional 3,409 shares during the period. Squarepoint Ops LLC raised its stake in shares of Hudbay Minerals by 25.7% in the 4th quarter. Squarepoint Ops LLC now owns 17,234 shares of the mining company’s stock valued at $125,000 after purchasing an additional 3,522 shares during the period. Bridgewater Associates LP raised its stake in shares of Hudbay Minerals by 12.9% in the 4th quarter. Bridgewater Associates LP now owns 31,923 shares of the mining company’s stock valued at $231,000 after purchasing an additional 3,645 shares during the period. Finally, Shell Asset Management Co. raised its stake in shares of Hudbay Minerals by 16.6% in the 4th quarter. Shell Asset Management Co. now owns 25,989 shares of the mining company’s stock valued at $188,000 after purchasing an additional 3,700 shares during the period. 66.94% of the stock is owned by institutional investors.

NYSE:HBM traded down $0.14 on Friday, reaching $7.56. The company’s stock had a trading volume of 906,330 shares, compared to its average volume of 1,048,922. Hudbay Minerals has a 1-year low of $5.22 and a 1-year high of $9.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.98 and a current ratio of 1.29. The firm has a market cap of $1.98 billion, a PE ratio of -8.13, a PEG ratio of 0.36 and a beta of 2.08. The business’s 50-day moving average price is $7.88 and its two-hundred day moving average price is $7.29.

Hudbay Minerals (NYSE:HBMGet Rating) (TSE:HBM) last released its quarterly earnings data on Wednesday, February 23rd. The mining company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Hudbay Minerals had a positive return on equity of 3.83% and a negative net margin of 16.27%. The business had revenue of $425.17 million for the quarter, compared to analysts’ expectations of $440.81 million. During the same quarter in the previous year, the business posted ($0.06) EPS. Hudbay Minerals’s revenue for the quarter was up 31.9% on a year-over-year basis. As a group, sell-side analysts expect that Hudbay Minerals will post 0.77 EPS for the current year.

The business also recently declared a Semi-Annual dividend, which was paid on Friday, March 25th. Shareholders of record on Tuesday, March 8th were paid a $0.008 dividend. The ex-dividend date was Monday, March 7th. This represents a yield of 0.2%. This is a positive change from Hudbay Minerals’s previous Semi-Annual dividend of $0.01. Hudbay Minerals’s payout ratio is presently -2.15%.

Hudbay Minerals Company Profile (Get Rating)

Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; silver/gold doré; molybdenum concentrates; and zinc metals.

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