Short Interest in Hudbay Minerals Inc. (NYSE:HBM) Decreases By 10.9%

Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 7,710,000 shares, a decrease of 10.9% from the March 15th total of 8,650,000 shares. Based on an average daily volume of 2,170,000 shares, the days-to-cover ratio is currently 3.6 days.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, March 29th. Bank of America raised shares of Hudbay Minerals from a "neutral" rating to a "buy" rating and set a $9.00 price objective on the stock in a research report on Tuesday, April 9th. Raymond James increased their price objective on shares of Hudbay Minerals from $9.00 to $10.50 and gave the company an "outperform" rating in a research report on Wednesday, March 20th. Finally, Stifel Nicolaus assumed coverage on shares of Hudbay Minerals in a research report on Tuesday, March 26th. They set a "buy" rating on the stock. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $9.75.

Hedge Funds Weigh In On Hudbay Minerals

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its stake in shares of Hudbay Minerals by 2,894.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,330 shares of the mining company's stock worth $26,000 after purchasing an additional 5,152 shares during the period. U S Global Investors Inc. bought a new stake in Hudbay Minerals during the 3rd quarter worth approximately $29,000. Banque Cantonale Vaudoise raised its stake in Hudbay Minerals by 38.7% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company's stock worth $45,000 after acquiring an additional 1,806 shares during the period. US Bancorp DE raised its stake in Hudbay Minerals by 122.4% during the 1st quarter. US Bancorp DE now owns 7,899 shares of the mining company's stock worth $62,000 after acquiring an additional 4,347 shares during the period. Finally, Osaic Holdings Inc. raised its stake in Hudbay Minerals by 290.9% during the 2nd quarter. Osaic Holdings Inc. now owns 8,185 shares of the mining company's stock worth $39,000 after acquiring an additional 6,091 shares during the period. Institutional investors own 57.82% of the company's stock.

Hudbay Minerals Stock Performance

Shares of NYSE HBM traded up $0.03 during trading on Monday, reaching $7.65. 1,858,702 shares of the company traded hands, compared to its average volume of 2,186,125. The firm has a 50 day simple moving average of $6.39 and a 200-day simple moving average of $5.43. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $2.68 billion, a PE ratio of 38.25, a P/E/G ratio of 0.75 and a beta of 1.95. Hudbay Minerals has a 52-week low of $3.94 and a 52-week high of $8.11.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its quarterly earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.06. The firm had revenue of $602.20 million for the quarter, compared to the consensus estimate of $552.74 million. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The business's quarterly revenue was up 87.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 EPS. Equities research analysts anticipate that Hudbay Minerals will post 0.44 earnings per share for the current year.

Hudbay Minerals Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.0074 per share. This represents a dividend yield of 0.3%. The ex-dividend date was Monday, March 4th. Hudbay Minerals's payout ratio is presently 5.00%.

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.