Scotiabank Forecasts Higher Earnings for Hudbay Minerals

Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM - Scotiabank lifted their FY2024 earnings per share (EPS) estimates for Hudbay Minerals in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now forecasts that the mining company will post earnings of $0.51 per share 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.

Separately, StockNews.com raised Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, November 15th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $11.17.

Hudbay Minerals Stock Up 2.4 %

Shares of HBM stock traded up $0.21 during trading hours on Thursday, reaching $8.83. The company had a trading volume of 4,471,900 shares, compared to its average volume of 5,382,900. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 38.39 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. Hudbay Minerals has a 12 month low of $4.94 and a 12 month high of $10.49. The business has a fifty day simple moving average of $8.74 and a 200-day simple moving average of $8.54.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its quarterly earnings data on Wednesday, November 13th. The mining company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.09. The firm had revenue of $485.80 million for the quarter, compared to the consensus estimate of $454.47 million. Hudbay Minerals had a net margin of 4.23% and a return on equity of 7.44%. The business's revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 earnings per share.

Institutional Investors Weigh In On Hudbay Minerals

Several hedge funds have recently added to or reduced their stakes in HBM. Northwest & Ethical Investments L.P. grew its holdings in shares of Hudbay Minerals by 0.8% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 197,289 shares of the mining company's stock valued at $1,815,000 after purchasing an additional 1,487 shares during the last quarter. Van ECK Associates Corp boosted its position in Hudbay Minerals by 0.4% during the third quarter. Van ECK Associates Corp now owns 451,628 shares of the mining company's stock valued at $4,213,000 after buying an additional 1,960 shares during the period. MQS Management LLC grew its stake in shares of Hudbay Minerals by 8.2% during the third quarter. MQS Management LLC now owns 34,231 shares of the mining company's stock valued at $315,000 after buying an additional 2,592 shares during the last quarter. FMR LLC increased its holdings in shares of Hudbay Minerals by 0.7% in the third quarter. FMR LLC now owns 354,392 shares of the mining company's stock worth $3,260,000 after buying an additional 2,624 shares during the period. Finally, Prospera Private Wealth LLC bought a new stake in shares of Hudbay Minerals in the 3rd quarter valued at about $28,000. 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.