FY2024 EPS Estimates for Hudbay Minerals Boosted by Analyst

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

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

Hudbay Minerals Stock Down 6.2 %

Shares of NYSE HBM opened at $7.84 on Tuesday. The company has a market capitalization of $3.09 billion, a P/E ratio of 34.09 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 company has a 50 day simple moving average of $9.05 and a 200-day simple moving average of $8.61. Hudbay Minerals has a 1 year low of $4.94 and a 1 year high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.09. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The firm had revenue of $485.80 million during the quarter, compared to analysts’ expectations of $454.47 million. During the same period last year, the business earned $0.07 earnings per share. Hudbay Minerals’s revenue was up 1.1% compared to the same quarter last year.

Hedge Funds Weigh In On Hudbay Minerals

Large investors have recently made changes to their positions in the stock. Mountaineer Partners Management LLC boosted its position in Hudbay Minerals by 792.5% in the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company’s stock valued at $94,874,000 after buying an additional 9,166,952 shares during the period. Regal Partners Ltd purchased a new stake in Hudbay Minerals during the 2nd quarter worth about $22,956,000. Artemis Investment Management LLP acquired a new stake in Hudbay Minerals in the 3rd quarter valued at about $20,907,000. TD Asset Management Inc grew its position in shares of Hudbay Minerals by 199.4% during the second quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock worth $26,294,000 after buying an additional 1,935,709 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Hudbay Minerals by 2,521.9% during the second quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock worth $15,861,000 after buying an additional 1,685,836 shares during the period. 57.82% of the stock is currently owned by institutional investors and hedge funds.

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.