Short Interest in Hudbay Minerals Inc. (NYSE:HBM) Decreases By 7.8%

Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM saw a large drop in short interest in 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 trading volume of 4,640,000 shares, the short-interest ratio is currently 1.2 days.

Hudbay Minerals Stock Down 6.8 %

Hudbay Minerals stock traded down $0.52 during midday trading on Friday, hitting $7.10. 8,169,599 shares of the company's stock were exchanged, compared to its average volume of 6,494,355. The company has a market cap of $2.80 billion, a PE ratio of 39.42 and a beta of 1.74. The firm has a 50-day moving average of $8.53 and a two-hundred day moving average of $8.53. Hudbay Minerals has a 12 month low of $5.22 and a 12 month high of $10.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings results on Wednesday, February 19th. The mining company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The business had revenue of $584.90 million for the quarter, compared to analysts' expectations of $588.28 million. During the same period in the prior year, the business posted $0.20 earnings per share. The business's quarterly revenue was down 2.9% compared to the same quarter last year. As a group, analysts expect that Hudbay Minerals will post 0.79 earnings per share for the current fiscal year.

Hudbay Minerals Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, March 21st. Investors of record on Tuesday, March 4th will be paid a $0.007 dividend. The ex-dividend date is Tuesday, March 4th. This represents a yield of 0.2%. This is a boost from Hudbay Minerals's previous semi-annual dividend of $0.01. Hudbay Minerals's dividend payout ratio (DPR) is currently 5.56%.

Institutional Investors Weigh In On Hudbay Minerals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mountaineer Partners Management LLC lifted its position in Hudbay Minerals by 792.5% in the third quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company's stock valued at $94,874,000 after buying an additional 9,166,952 shares during the last quarter. Norges Bank acquired a new stake in shares of Hudbay Minerals during the fourth quarter worth $50,260,000. Dimensional Fund Advisors LP lifted its holdings in Hudbay Minerals by 86.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company's stock valued at $74,105,000 after acquiring an additional 4,253,400 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in shares of Hudbay Minerals in the fourth quarter valued at $17,657,000. Finally, American Century Companies Inc. increased its position in Hudbay Minerals by 102.4% during the 4th quarter. American Century Companies Inc. now owns 4,275,895 shares of the mining company's stock worth $34,684,000 after purchasing an additional 2,163,000 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company's stock.

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 issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price 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.