Scotiabank Increases Earnings Estimates for Hudbay Minerals

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Stock analysts at Scotiabank lifted their FY2024 earnings per share estimates for Hudbay Minerals in a research report issued on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now anticipates that the mining company will post earnings per share of $0.51 for the year, up from their previous 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.

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

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

Hudbay Minerals Stock Down 0.5 %

Shares of NYSE:HBM opened at $8.77 on Thursday. Hudbay Minerals has a 1 year low of $4.94 and a 1 year high of $10.49. The business has a 50 day simple moving average of $8.74 and a two-hundred day simple moving average of $8.54. The firm has a market capitalization of $3.45 billion, a PE ratio of 38.13 and a beta of 1.76. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47.

Institutional Trading of Hudbay Minerals

Institutional investors and hedge funds have recently modified their holdings of the stock. Prospera Private Wealth LLC bought a new stake in shares of Hudbay Minerals during the third quarter valued at approximately $28,000. Exchange Traded Concepts LLC bought a new position in Hudbay Minerals in the third quarter worth approximately $53,000. Clear Harbor Asset Management LLC bought a new position in Hudbay Minerals in the third quarter worth approximately $92,000. Armistice Capital LLC bought a new position in Hudbay Minerals in the second quarter worth approximately $97,000. Finally, First Affirmative Financial Network bought a new position in Hudbay Minerals in the third quarter worth approximately $103,000. 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.