Analysts Issue Forecasts for Hudbay Minerals FY2024 Earnings

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Investment analysts at Scotiabank lifted their FY2024 earnings per share estimates for Hudbay Minerals in a report released on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now anticipates that the mining company will earn $0.51 per share for the year, up from their prior estimate of $0.47. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.55 per share. Scotiabank also issued estimates for Hudbay Minerals’ FY2025 earnings at $0.77 EPS.

Separately, StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note 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. According to data from MarketBeat.com, Hudbay Minerals has an average rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Price Performance

Shares of HBM stock opened at $8.83 on Thursday. The firm has a fifty day moving average of $8.74 and a two-hundred day moving average of $8.54. The firm has a market cap of $3.48 billion, a P/E ratio of 38.39 and a beta of 1.76. Hudbay Minerals has a 1-year low of $4.94 and a 1-year high of $10.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47.

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

Institutional Trading of Hudbay Minerals

Hedge funds have recently made changes to their positions in the stock. Ballentine Partners LLC lifted its position in Hudbay Minerals by 32.7% in the 2nd quarter. Ballentine Partners LLC now owns 16,171 shares of the mining company’s stock valued at $146,000 after purchasing an additional 3,983 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Hudbay Minerals by 239.3% during the second quarter. American Century Companies Inc. now owns 2,044,720 shares of the mining company’s stock valued at $18,503,000 after buying an additional 1,442,140 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Hudbay Minerals by 24.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,545,340 shares of the mining company’s stock valued at $32,084,000 after buying an additional 702,170 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of Hudbay Minerals by 79.5% during the second quarter. Quantbot Technologies LP now owns 293,110 shares of the mining company’s stock worth $2,653,000 after buying an additional 129,797 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Hudbay Minerals by 32.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,499,409 shares of the mining company’s stock worth $13,570,000 after buying an additional 366,300 shares in the last quarter. 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.