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

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) was the target of a large 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. Based on an average trading volume of 6,160,000 shares, the days-to-cover ratio is presently 1.5 days. Currently, 2.3% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HBM. Entropy Technologies LP purchased a new stake in Hudbay Minerals in the third quarter worth $587,000. MQS Management LLC increased its stake 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 in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Hudbay Minerals in the 3rd quarter worth about $28,000. PCJ Investment Counsel Ltd. lifted its position 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 acquiring an additional 36,900 shares during the period. Finally, Jennison Associates LLC boosted its stake in Hudbay Minerals by 12.2% during the third quarter. Jennison Associates LLC now owns 3,298,814 shares of the mining company’s stock worth $30,340,000 after acquiring an additional 359,126 shares in the last quarter. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Trading Up 4.5 %

NYSE HBM traded up $0.34 on Friday, hitting $7.73. The company’s stock had a trading volume of 9,301,356 shares, compared to its average volume of 3,919,660. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. Hudbay Minerals has a 52-week low of $6.42 and a 52-week high of $10.49. The firm has a market cap of $3.05 billion, a P/E ratio of 42.92 and a beta of 1.72. The company’s 50-day simple moving average is $8.18 and its 200 day simple moving average is $8.48.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly 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). Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The company had revenue of $584.90 million during the quarter, compared to the consensus estimate of $588.28 million. During the same quarter last year, the firm earned $0.20 EPS. The business’s revenue was down 2.9% on a year-over-year basis. Research analysts predict that Hudbay Minerals will post 0.79 EPS for the current fiscal year.

Hudbay Minerals Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th will be issued a $0.007 dividend. 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 yield of 0.2%. Hudbay Minerals’s dividend payout ratio (DPR) is 5.56%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average 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.