Hudbay Minerals Inc. (NYSE:HBM) Short Interest Down 16.5% in May

Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM saw a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 8,090,000 shares, a drop of 16.5% from the April 30th total of 9,690,000 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average trading volume of 7,360,000 shares, the short-interest ratio is currently 1.1 days.

Hudbay Minerals Stock Up 0.6%

Shares of HBM traded up $0.06 during midday trading on Friday, reaching $9.63. 12,639,728 shares of the company were exchanged, compared to its average volume of 5,070,416. Hudbay Minerals has a 1-year low of $5.95 and a 1-year high of $9.86. The stock has a 50-day moving average price of $7.79 and a 200-day moving average price of $8.14. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 53.50 and a beta of 1.60.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its earnings results on Monday, May 12th. The mining company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.14. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The business had revenue of $594.90 million during the quarter, compared to the consensus estimate of $537.36 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The business's quarterly revenue was up 13.3% compared to the same quarter last year. Research analysts expect that Hudbay Minerals will post 0.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. BMO Capital Markets assumed coverage on Hudbay Minerals in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a research note on Wednesday, March 19th. Scotiabank restated an "outperform" rating on shares of Hudbay Minerals in a report on Tuesday, May 13th. Finally, Desjardins started coverage on shares of Hudbay Minerals in a research note on Friday, April 4th. They set a "buy" rating for the company. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Hudbay Minerals presently has an average rating of "Buy" and a consensus target price of $14.00.

Institutional Trading of Hudbay Minerals

A number of hedge funds have recently made changes to their positions in HBM. Tower Research Capital LLC TRC increased its position in shares of Hudbay Minerals by 9,877.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock worth $25,000 after purchasing an additional 3,062 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of Hudbay Minerals by 64.6% during the first quarter. SBI Securities Co. Ltd. now owns 3,773 shares of the mining company's stock worth $29,000 after purchasing an additional 1,481 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Hudbay Minerals in the 1st quarter worth about $33,000. Jones Financial Companies Lllp boosted its holdings in shares of Hudbay Minerals by 131.6% in the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock valued at $50,000 after buying an additional 3,733 shares during the period. Finally, Algert Global LLC acquired a new stake in Hudbay Minerals during the fourth quarter worth about $86,000. Institutional investors and hedge funds own 57.82% of the company's stock.

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.