FY2024 EPS Estimate for Hudbay Minerals Increased by Analyst

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Research analysts at Stifel Canada upped their FY2024 earnings per share (EPS) estimates for shares of Hudbay Minerals in a note issued to investors on Sunday, December 15th. Stifel Canada analyst C. Mcgill now forecasts that the mining company will post earnings per share of $0.68 for the year, up from their prior forecast of $0.61. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.55 per share.

Separately, StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Hudbay Minerals currently has an average rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Price Performance

Shares of NYSE HBM opened at $8.36 on Tuesday. Hudbay Minerals has a 1-year low of $4.94 and a 1-year high of $10.49. The firm has a market capitalization of $3.29 billion, a PE ratio of 36.35 and a beta of 1.77. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The business’s fifty day moving average price is $9.08 and its two-hundred day moving average price is $8.61.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.09. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The business had revenue of $485.80 million for the quarter, compared to analyst estimates of $454.47 million. During the same quarter in the prior year, the business posted $0.07 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis.

Institutional Trading of Hudbay Minerals

A number of hedge funds have recently made changes to their positions in HBM. Tidal Investments LLC bought a new position in Hudbay Minerals during the third quarter valued at about $886,000. Sanctuary Advisors LLC bought a new stake in Hudbay Minerals in the 3rd quarter valued at $178,000. Barclays PLC increased its holdings in shares of Hudbay Minerals by 2,414.5% during the 3rd quarter. Barclays PLC now owns 86,475 shares of the mining company’s stock worth $795,000 after purchasing an additional 83,036 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in Hudbay Minerals during the third quarter valued at about $2,771,000. Finally, Toronto Dominion Bank lifted its position in shares of Hudbay Minerals by 300.9% in the 3rd quarter. Toronto Dominion Bank now owns 226,841 shares of the mining company’s stock worth $2,085,000 after acquiring an additional 170,257 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

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.