Hudbay Minerals Inc (HBM) Short Interest Up 66.9% in October

Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 2,760,217 shares, a growth of 66.9% from the September 28th total of 1,653,423 shares. Based on an average trading volume of 801,032 shares, the short-interest ratio is currently 3.4 days.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HBM. Dimensional Fund Advisors LP boosted its stake in Hudbay Minerals by 107.2% during the first quarter. Dimensional Fund Advisors LP now owns 334,197 shares of the mining company’s stock worth $2,373,000 after buying an additional 172,900 shares during the last quarter. Jane Street Group LLC acquired a new position in Hudbay Minerals during the first quarter worth $344,000. Millennium Management LLC boosted its stake in Hudbay Minerals by 61.4% during the first quarter. Millennium Management LLC now owns 2,052,208 shares of the mining company’s stock worth $14,571,000 after buying an additional 780,379 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Hudbay Minerals by 32.1% during the first quarter. Allianz Asset Management GmbH now owns 4,306,119 shares of the mining company’s stock worth $30,461,000 after buying an additional 1,047,011 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its stake in Hudbay Minerals by 92.3% during the first quarter. Dynamic Technology Lab Private Ltd now owns 61,784 shares of the mining company’s stock worth $438,000 after buying an additional 29,653 shares during the last quarter. 58.07% of the stock is currently owned by institutional investors.

NYSE HBM opened at $3.61 on Wednesday. The firm has a market cap of $985.00 million, a price-to-earnings ratio of 6.42 and a beta of 2.87. The company has a current ratio of 2.15, a quick ratio of 1.70 and a debt-to-equity ratio of 0.48. Hudbay Minerals has a fifty-two week low of $3.44 and a fifty-two week high of $10.25.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Tuesday, July 31st. The mining company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.04). The company had revenue of $371.29 million for the quarter, compared to analyst estimates of $386.00 million. Hudbay Minerals had a return on equity of 8.66% and a net margin of 13.40%. Equities analysts anticipate that Hudbay Minerals will post 0.29 EPS for the current year.

A number of analysts have recently issued reports on the company. Zacks Investment Research lowered Hudbay Minerals from a “hold” rating to a “sell” rating in a research note on Thursday, July 5th. ValuEngine lowered Hudbay Minerals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 3rd. Bank of America assumed coverage on Hudbay Minerals in a research note on Tuesday, August 14th. They issued a “neutral” rating and a $6.00 price target on the stock. Barclays assumed coverage on Hudbay Minerals in a research note on Wednesday, October 10th. They issued an “overweight” rating and a $8.00 price target on the stock. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Hudbay Minerals in a research note on Monday, September 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Hudbay Minerals currently has an average rating of “Hold” and a consensus target price of $8.33.

About Hudbay Minerals

Hudbay Minerals Inc, an integrated 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; and zinc metal. The company owns four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, the United States.

Recommended Story: Are Wall Street analysts’ stock ratings worth following?

Receive News & Ratings for Hudbay Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudbay Minerals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply