Hudbay Minerals Inc. (NYSE:HBM – Get Free Report) (TSE:HBM) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 9,100,000 shares, an increase of 52.4% from the February 13th total of 5,970,000 shares. Approximately 2.3% of the shares of the stock are short sold. Based on an average trading volume of 6,160,000 shares, the days-to-cover ratio is currently 1.5 days.
Analysts Set New Price Targets
Separately, StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $11.17.
Read Our Latest Stock Report on HBM
Institutional Investors Weigh In On Hudbay Minerals
Hudbay Minerals Price Performance
Shares of NYSE HBM traded up $0.35 during trading on Monday, hitting $8.08. The company had a trading volume of 9,358,660 shares, compared to its average volume of 3,941,416. Hudbay Minerals has a fifty-two week low of $6.42 and a fifty-two week high of $10.49. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $8.18 and a two-hundred day simple moving average of $8.49. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 44.86 and a beta of 1.72.
Hudbay Minerals (NYSE:HBM – Get Free Report) (TSE:HBM) last announced its earnings results on Wednesday, February 19th. The mining company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $584.90 million for the quarter, compared to analyst estimates of $588.28 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. Hudbay Minerals’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 EPS. On average, research analysts expect that Hudbay Minerals will post 0.79 earnings per share for the current year.
Hudbay Minerals Increases Dividend
The company also recently disclosed a semi-annual dividend, which will be paid on Friday, March 21st. Shareholders of record on Tuesday, March 4th will be issued a $0.007 dividend. The ex-dividend date is Tuesday, March 4th. This represents a yield of 0.2%. This is a positive change from Hudbay Minerals’s previous semi-annual dividend of $0.01. Hudbay Minerals’s dividend payout ratio (DPR) is presently 5.56%.
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.
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