Scotiabank Forecasts Increased Earnings for Hudbay Minerals

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) – Research analysts at Scotiabank raised their FY2024 EPS estimates for Hudbay Minerals in a research note issued on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now anticipates that the mining company will post earnings per share of $0.73 for the year, up from their previous estimate of $0.66. Scotiabank currently has a “Outperform” rating and a $15.00 price objective on the stock. The consensus estimate for Hudbay Minerals’ current full-year earnings is $1.12 per share. Scotiabank also issued estimates for Hudbay Minerals’ FY2025 earnings at $1.10 EPS.

Several other research analysts have also recently issued reports on HBM. National Bankshares increased their price target on Hudbay Minerals from C$15.50 to C$16.75 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Jefferies Financial Group increased their target price on shares of Hudbay Minerals from C$14.00 to C$15.00 in a research report on Friday, October 4th. Twelve analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Hudbay Minerals presently has a consensus rating of “Buy” and an average price target of C$15.54.

Hudbay Minerals Stock Performance

Shares of HBM stock opened at C$12.63 on Thursday. The business has a 50 day simple moving average of C$12.38 and a 200 day simple moving average of C$11.83. The company has a debt-to-equity ratio of 49.37, a current ratio of 1.87 and a quick ratio of 0.85. The firm has a market capitalization of C$4.97 billion, a price-to-earnings ratio of 34.14, a price-to-earnings-growth ratio of 3.97 and a beta of 1.83. Hudbay Minerals has a 12-month low of C$6.72 and a 12-month high of C$14.33.

Insider Activity at Hudbay Minerals

In other Hudbay Minerals news, Senior Officer Robert Alan Carter sold 8,014 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of C$13.24, for a total value of C$106,105.36. Company insiders own 0.07% 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.