Hudbay Minerals Inc. (NYSE:HBM) Sees Large Growth in Short Interest

Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 5,130,000 shares, a growth of 5.6% from the November 30th total of 4,860,000 shares. Based on an average trading volume of 3,480,000 shares, the short-interest ratio is currently 1.5 days.

Hudbay Minerals Stock Performance

NYSE HBM traded up $0.10 during trading on Wednesday, reaching $8.10. 4,235,857 shares of the company's stock were exchanged, compared to its average volume of 3,185,742. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The business has a 50 day moving average price of $8.85 and a 200-day moving average price of $8.55. The stock has a market capitalization of $3.19 billion, a P/E ratio of 35.22 and a beta of 1.77. Hudbay Minerals has a fifty-two week low of $4.94 and a fifty-two week high of $10.49.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.09. The business had revenue of $485.80 million for the quarter, compared to analysts' expectations of $454.47 million. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.07 EPS. Sell-side analysts forecast that Hudbay Minerals will post 0.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $11.17.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HBM. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Hudbay Minerals by 4.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company's stock valued at $674,000 after purchasing an additional 2,905 shares during the last quarter. Van ECK Associates Corp increased its position in Hudbay Minerals by 58.3% during the 2nd quarter. Van ECK Associates Corp now owns 449,668 shares of the mining company's stock worth $4,070,000 after buying an additional 165,682 shares during the period. Ritholtz Wealth Management bought a new position in Hudbay Minerals during the 2nd quarter worth $96,000. CIBC Asset Management Inc lifted its holdings in shares of Hudbay Minerals by 18.9% during the second quarter. CIBC Asset Management Inc now owns 488,503 shares of the mining company's stock worth $4,418,000 after buying an additional 77,504 shares in the last quarter. Finally, Regal Partners Ltd bought a new stake in shares of Hudbay Minerals in the second quarter valued at about $22,956,000. Institutional investors and hedge funds own 57.82% of the company's stock.

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.