Hudbay Minerals Inc. (NYSE:HBM - Get Free Report) TSE: HBM saw a significant increase in short interest in December. As of December 15th, there was short interest totalling 5,130,000 shares, an increase of 5.6% from the November 30th total of 4,860,000 shares. Based on an average trading volume of 3,480,000 shares, the days-to-cover ratio is currently 1.5 days.
Shares of NYSE:HBM opened at $8.10 on Wednesday. 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 stock has a fifty day simple moving average of $8.85 and a two-hundred day simple moving average of $8.55. Hudbay Minerals has a 12-month low of $4.94 and a 12-month high of $10.49. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 35.22 and a beta of 1.77.
Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its quarterly earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.09. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The firm had revenue of $485.80 million during the quarter, compared to the consensus estimate of $454.47 million. During the same period last year, the company earned $0.07 earnings per share. The company's revenue was up 1.1% on a year-over-year basis. On average, research analysts anticipate that Hudbay Minerals will post 0.55 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Mountaineer Partners Management LLC raised its holdings in Hudbay Minerals by 792.5% in the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company's stock worth $94,874,000 after acquiring an additional 9,166,952 shares during the last quarter. Regal Partners Ltd bought a new position in shares of Hudbay Minerals during the second quarter valued at $22,956,000. Artemis Investment Management LLP purchased a new stake in shares of Hudbay Minerals during the third quarter valued at $20,907,000. TD Asset Management Inc increased its holdings in Hudbay Minerals by 199.4% in the 2nd quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company's stock worth $26,294,000 after buying an additional 1,935,709 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in Hudbay Minerals by 2,521.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company's stock valued at $15,861,000 after acquiring an additional 1,685,836 shares during the period. Institutional investors own 57.82% of the company's stock.
Separately, StockNews.com raised shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $11.17.
Get Our Latest Analysis on 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.
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