Brokers Issue Forecasts for Hudbay Minerals FY2024 Earnings

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) – Analysts at Scotiabank increased their FY2024 earnings estimates for shares of Hudbay Minerals in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now forecasts that the mining company will post earnings of $0.73 per share for the year, up from their prior estimate of $0.66. Scotiabank currently has a “Outperform” rating and a $15.00 price target on the stock. The consensus estimate for Hudbay Minerals’ current full-year earnings is $1.12 per share. Scotiabank also issued estimates for Hudbay Minerals’ FY2025 earnings at $1.10 EPS.

A number of other research analysts also recently issued reports on HBM. National Bankshares lifted their price objective on shares of Hudbay Minerals from C$15.50 to C$16.75 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Jefferies Financial Group increased their price target on Hudbay Minerals from C$14.00 to C$15.00 in a research note on Friday, October 4th. Twelve analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Hudbay Minerals presently has an average rating of “Buy” and a consensus target price of C$15.54.

Hudbay Minerals Stock Up 2.1 %

Shares of HBM opened at C$12.96 on Thursday. The firm has a fifty day moving average price of C$12.38 and a 200-day moving average price of C$11.83. The company has a current ratio of 1.87, a quick ratio of 0.85 and a debt-to-equity ratio of 49.37. Hudbay Minerals has a 12-month low of C$6.72 and a 12-month high of C$14.33. The firm has a market capitalization of C$5.10 billion, a P/E ratio of 35.03, a P/E/G ratio of 3.97 and a beta of 1.83.

Insider Activity

In other Hudbay Minerals news, Senior Officer Robert Alan Carter sold 8,014 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of C$13.24, for a total transaction of C$106,105.36. Corporate insiders own 0.07% of the company’s stock.

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.