FY2024 EPS Estimate for Hudbay Minerals Lifted by Analyst

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

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

Hudbay Minerals Stock Performance

Shares of Hudbay Minerals stock opened at $8.52 on Friday. The business has a fifty day simple moving average of $8.79 and a two-hundred day simple moving average of $8.68. The firm has a market capitalization of $3.35 billion, a P/E ratio of 37.04 and a beta of 1.78. 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.

Hedge Funds Weigh In On Hudbay Minerals

A number of institutional investors and hedge funds have recently made changes to their positions in HBM. Geode Capital Management LLC boosted its stake in shares of Hudbay Minerals by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 183,967 shares of the mining company’s stock worth $1,700,000 after acquiring an additional 8,664 shares during the last quarter. Barclays PLC raised its stake in shares of Hudbay Minerals by 2,414.5% in the third quarter. Barclays PLC now owns 86,475 shares of the mining company’s stock worth $795,000 after buying an additional 83,036 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Hudbay Minerals during the 3rd quarter valued at approximately $1,122,000. MML Investors Services LLC purchased a new position in shares of Hudbay Minerals in the third quarter valued at about $226,000. Finally, XTX Topco Ltd boosted its holdings in shares of Hudbay Minerals by 252.5% during the 3rd quarter. XTX Topco Ltd now owns 51,005 shares of the mining company’s stock valued at $469,000 after purchasing an additional 36,534 shares during the last quarter. Hedge funds and other institutional investors own 57.82% 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.