FY2024 EPS Forecast for Hudbay Minerals Raised by Analyst

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – National Bank Financial lifted their FY2024 EPS estimates for shares of Hudbay Minerals in a report released on Wednesday, November 13th. National Bank Financial analyst S. Nagle now forecasts that the mining company will earn $0.47 per share for the year, up from their previous forecast of $0.37. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.48 per share.

Other analysts have also recently issued reports about the company. Jefferies Financial Group raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Hudbay Minerals has an average rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Price Performance

Shares of Hudbay Minerals stock opened at $8.52 on Friday. The firm has a market cap of $3.35 billion, a PE ratio of 37.05 and a beta of 1.78. The stock has a 50 day moving average of $8.79 and a 200 day moving average of $8.68. The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. Hudbay Minerals has a 12 month low of $4.27 and a 12 month high of $10.49.

Institutional Investors Weigh In On Hudbay Minerals

Several institutional investors have recently made changes to their positions in HBM. Prospera Private Wealth LLC purchased a new stake in Hudbay Minerals in the 3rd quarter worth about $28,000. Exchange Traded Concepts LLC purchased a new stake in shares of Hudbay Minerals in the third quarter worth approximately $53,000. Clear Harbor Asset Management LLC bought a new stake in shares of Hudbay Minerals during the 3rd quarter worth approximately $92,000. Ritholtz Wealth Management purchased a new position in Hudbay Minerals during the 2nd quarter valued at $96,000. Finally, Armistice Capital LLC bought a new position in Hudbay Minerals in the 2nd quarter valued at $97,000. Institutional investors own 57.82% of the company’s stock.

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.