Stifel Canada Lowers Earnings Estimates for Hudbay Minerals

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Analysts at Stifel Canada cut their FY2024 earnings estimates for Hudbay Minerals in a research report issued on Thursday, January 23rd. Stifel Canada analyst C. Mcgill now expects that the mining company will post earnings per share of $0.41 for the year, down from their prior forecast of $0.68. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.54 per share. Stifel Canada also issued estimates for Hudbay Minerals’ Q4 2024 earnings at $0.12 EPS, FY2026 earnings at $1.01 EPS and FY2027 earnings at $0.98 EPS.

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

Separately, StockNews.com downgraded Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Hudbay Minerals presently has an average rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Trading Down 4.0 %

Shares of NYSE:HBM opened at $8.25 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. The stock’s 50-day moving average is $8.65 and its 200-day moving average is $8.48. The company has a market cap of $3.25 billion, a P/E ratio of 35.86 and a beta of 1.76. Hudbay Minerals has a 52-week low of $4.94 and a 52-week high of $10.49.

Institutional Investors Weigh In On Hudbay Minerals

Hedge funds have recently made changes to their positions in the stock. Prospera Private Wealth LLC acquired a new position in Hudbay Minerals in the 3rd quarter valued at approximately $28,000. Exchange Traded Concepts LLC bought a new stake in shares of Hudbay Minerals during the third quarter valued at approximately $53,000. Clear Harbor Asset Management LLC bought a new stake in shares of Hudbay Minerals during the third quarter valued at approximately $92,000. First Affirmative Financial Network acquired a new position in shares of Hudbay Minerals in the third quarter valued at $103,000. Finally, Algert Global LLC bought a new position in Hudbay Minerals in the second quarter worth $111,000. 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.