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

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 5,650,000 shares, a decline of 13.6% from the July 15th total of 6,540,000 shares. Based on an average daily volume of 3,730,000 shares, the days-to-cover ratio is currently 1.5 days.

Hudbay Minerals Trading Up 2.3 %

Shares of NYSE:HBM traded up $0.17 during trading on Monday, reaching $7.91. The stock had a trading volume of 3,104,892 shares, compared to its average volume of 2,975,824. Hudbay Minerals has a fifty-two week low of $3.94 and a fifty-two week high of $10.49. The company has a quick ratio of 1.00, a current ratio of 1.40 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average price of $8.44 and a 200-day moving average price of $7.82. The stock has a market cap of $3.11 billion, a P/E ratio of 34.37 and a beta of 1.83.

Hudbay Minerals Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 3rd will be issued a $0.007 dividend. This represents a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, September 3rd. Hudbay Minerals’s dividend payout ratio is presently 4.35%.

Hedge Funds Weigh In On Hudbay Minerals

Institutional investors and hedge funds have recently made changes to their positions in the business. Register Financial Advisors LLC bought a new position in Hudbay Minerals in the 1st quarter worth approximately $35,000. Banque Cantonale Vaudoise raised its position in shares of 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 buying an additional 1,806 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of Hudbay Minerals during the 2nd quarter worth about $96,000. Armistice Capital LLC acquired a new stake in Hudbay Minerals in the second quarter worth approximately $97,000. Finally, Liontrust Investment Partners LLP bought a new stake in shares of Hudbay Minerals in the 2nd quarter worth $100,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. StockNews.com lowered Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, National Bank Financial raised Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 14th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $10.36.

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.