Stifel Canada Lifts Earnings Estimates for Hudbay Minerals

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Analysts at Stifel Canada boosted their Q4 2024 EPS estimates for shares of Hudbay Minerals in a research note issued to investors on Monday, December 16th. Stifel Canada analyst C. Mcgill now expects that the mining company will post earnings of $0.39 per share for the quarter, up from their prior forecast of $0.38. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.55 per share. Stifel Canada also issued estimates for Hudbay Minerals’ Q1 2025 earnings at $0.31 EPS, Q2 2025 earnings at $0.27 EPS, Q3 2025 earnings at $0.28 EPS, Q4 2025 earnings at $0.19 EPS, FY2025 earnings at $1.05 EPS, FY2026 earnings at $0.96 EPS and FY2027 earnings at $0.94 EPS.

Separately, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Hudbay Minerals presently has a consensus rating of “Buy” and an average price target of $11.17.

Hudbay Minerals Stock Down 6.2 %

HBM opened at $7.84 on Wednesday. Hudbay Minerals has a 1-year low of $4.94 and a 1-year high of $10.49. The business has a 50 day moving average of $9.05 and a 200-day moving average of $8.61. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 34.09 and a beta of 1.77. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its 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. The firm had revenue of $485.80 million during the quarter, compared to the consensus estimate of $454.47 million. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.07 EPS.

Institutional Trading of Hudbay Minerals

Several institutional investors have recently made changes to their positions in the business. Prospera Private Wealth LLC bought a new position in Hudbay Minerals during the third quarter worth about $28,000. Exchange Traded Concepts LLC acquired a new position in shares of Hudbay Minerals in the 3rd quarter worth approximately $53,000. Clear Harbor Asset Management LLC bought a new position in shares of Hudbay Minerals during the 3rd quarter worth approximately $92,000. Ritholtz Wealth Management acquired a new stake in Hudbay Minerals in the 2nd quarter valued at $96,000. Finally, Armistice Capital LLC bought a new stake in Hudbay Minerals in the second quarter valued at $97,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

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.