Hudbay Minerals Inc (HBM) Short Interest Update
Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 3,675,114 shares, a growth of 76.7% from the October 31st total of 2,079,670 shares. Based on an average daily volume of 769,450 shares, the short-interest ratio is currently 4.8 days.
HBM has been the subject of several analyst reports. Raymond James restated a “buy” rating on shares of Hudbay Minerals in a research note on Friday, November 2nd. Zacks Investment Research upgraded Hudbay Minerals from a “sell” rating to a “hold” rating in a research note on Wednesday, October 10th. Credit Suisse Group restated a “neutral” rating on shares of Hudbay Minerals in a research note on Monday, September 10th. Bank of America initiated coverage on Hudbay Minerals in a research note on Tuesday, August 14th. They issued a “neutral” rating and a $6.00 price objective for the company. Finally, Barclays initiated coverage on Hudbay Minerals in a research note on Wednesday, October 10th. They issued an “overweight” rating and a $8.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $8.33.
Shares of HBM stock opened at $5.23 on Thursday. Hudbay Minerals has a 52-week low of $3.44 and a 52-week high of $10.25. The company has a quick ratio of 1.98, a current ratio of 2.44 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 9.18 and a beta of 3.10.
Hedge funds have recently modified their holdings of the business. Letko Brosseau & Associates Inc. increased its stake in Hudbay Minerals by 14.8% in the 3rd quarter. Letko Brosseau & Associates Inc. now owns 31,712,001 shares of the mining company’s stock worth $160,449,000 after buying an additional 4,093,825 shares in the last quarter. Hexavest Inc. purchased a new stake in Hudbay Minerals in the 3rd quarter worth $3,386,000. Janus Henderson Group PLC purchased a new stake in Hudbay Minerals in the 2nd quarter worth $850,000. Covalis Capital LLP purchased a new stake in Hudbay Minerals in the 2nd quarter worth $329,000. Finally, BlackRock Inc. increased its stake in Hudbay Minerals by 131.1% in the 2nd quarter. BlackRock Inc. now owns 35,456 shares of the mining company’s stock worth $199,000 after buying an additional 20,113 shares in the last quarter. Institutional investors and hedge funds own 52.94% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Hudbay Minerals Inc (HBM) Short Interest Update” was reported by Watch List News and is owned by of Watch List News. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://www.watchlistnews.com/hudbay-minerals-inc-hbm-short-interest-update/2663451.html.
Hudbay Minerals Company Profile
Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, the United States.
Read More: Price to Earnings Ratio (PE) Basics
Receive News & Ratings for Hudbay Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudbay Minerals and related companies with MarketBeat.com's FREE daily email newsletter.