Hudbay Minerals Inc. (NYSE:HBM) Short Interest Up 12.7% in June

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 4,980,000 shares, an increase of 12.7% from the May 31st total of 4,420,000 shares. Based on an average daily volume of 3,580,000 shares, the short-interest ratio is presently 1.4 days.

Hudbay Minerals Trading Up 0.8 %

HBM stock traded up $0.07 during trading on Monday, hitting $9.12. The company had a trading volume of 970,799 shares, compared to its average volume of 2,839,285. The stock has a market cap of $3.59 billion, a PE ratio of 40.09 and a beta of 1.82. The business has a 50-day moving average of $9.03 and a 200-day moving average of $7.11. The company has a current ratio of 1.40, a quick ratio of 1.00 and a debt-to-equity ratio of 0.61. Hudbay Minerals has a one year low of $3.94 and a one year high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Tuesday, May 14th. The mining company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.13. Hudbay Minerals had a net margin of 4.36% and a return on equity of 6.22%. The company had revenue of $524.99 million for the quarter, compared to analyst estimates of $463.69 million. Research analysts predict that Hudbay Minerals will post 0.6 earnings per share for the current fiscal year.

Institutional Trading of Hudbay Minerals

A number of institutional investors have recently bought and sold shares of the company. Letko Brosseau & Associates Inc. grew its position in shares of Hudbay Minerals by 0.7% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 16,569,958 shares of the mining company’s stock worth $91,609,000 after buying an additional 114,266 shares during the period. L1 Capital Pty Ltd increased its stake in Hudbay Minerals by 15.1% in the third quarter. L1 Capital Pty Ltd now owns 16,299,356 shares of the mining company’s stock valued at $79,378,000 after purchasing an additional 2,141,437 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Hudbay Minerals by 28.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock valued at $51,836,000 after purchasing an additional 2,085,641 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Hudbay Minerals by 3.2% during the first quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock valued at $60,861,000 after purchasing an additional 272,635 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of Hudbay Minerals by 33.8% during the 4th quarter. Mackenzie Financial Corp now owns 5,014,948 shares of the mining company’s stock worth $27,604,000 after purchasing an additional 1,266,717 shares in the last quarter. Institutional investors own 57.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HBM shares. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. Raymond James increased their target price on Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Stifel Nicolaus initiated coverage on Hudbay Minerals in a report on Tuesday, March 26th. They set a “buy” rating on the stock. Jefferies Financial Group assumed coverage on Hudbay Minerals in a research note on Friday, May 3rd. They issued a “hold” rating and a $13.00 price objective for the company. Finally, Bank of America upgraded shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a research report on Tuesday, April 9th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Hudbay Minerals has an average rating of “Buy” and an average target price of $10.21.

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.