Short Interest in Hudbay Minerals Inc. (NYSE:HBM) Increases By 52.4%

Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 9,100,000 shares, an increase of 52.4% from the February 13th total of 5,970,000 shares. Approximately 2.3% of the company's stock are short sold. Based on an average daily trading volume, of 6,160,000 shares, the short-interest ratio is presently 1.5 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Hudbay Minerals currently has an average rating of "Buy" and an average price target of $11.17.

Hudbay Minerals Stock Performance

Shares of HBM traded up $0.13 during mid-day trading on Wednesday, hitting $8.35. The stock had a trading volume of 6,277,888 shares, compared to its average volume of 3,969,832. Hudbay Minerals has a fifty-two week low of $6.42 and a fifty-two week high of $10.49. 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 market cap of $3.30 billion, a PE ratio of 46.36 and a beta of 1.72. The company's fifty day simple moving average is $8.16 and its two-hundred day simple moving average is $8.49.

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Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $584.90 million for the quarter, compared to the consensus estimate of $588.28 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The firm's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 EPS. On average, equities analysts expect that Hudbay Minerals will post 0.79 earnings per share for the current year.

Hudbay Minerals Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.007 per share. The ex-dividend date is Tuesday, March 4th. This is a positive change from Hudbay Minerals's previous semi-annual dividend of $0.01. This represents a dividend yield of 0.2%. Hudbay Minerals's dividend payout ratio is 5.56%.

Institutional Trading of Hudbay Minerals

A number of institutional investors and hedge funds have recently made changes to their positions in HBM. Entropy Technologies LP acquired a new stake in Hudbay Minerals in the third quarter worth $587,000. MQS Management LLC increased its holdings in shares of Hudbay Minerals by 8.2% in the 3rd quarter. MQS Management LLC now owns 34,231 shares of the mining company's stock worth $315,000 after acquiring an additional 2,592 shares during the period. Prospera Private Wealth LLC bought a new stake in Hudbay Minerals in the 3rd quarter valued at about $28,000. PCJ Investment Counsel Ltd. boosted its stake in Hudbay Minerals by 14.1% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 297,900 shares of the mining company's stock valued at $2,740,000 after purchasing an additional 36,900 shares during the period. Finally, Jennison Associates LLC boosted its stake in Hudbay Minerals by 12.2% during the 3rd quarter. Jennison Associates LLC now owns 3,298,814 shares of the mining company's stock valued at $30,340,000 after purchasing an additional 359,126 shares during the period. 57.82% of the stock is currently owned by institutional investors and hedge funds.

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.