FY2024 EPS Estimate for Hudbay Minerals Raised by Analyst

Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM - Research analysts at National Bank Financial raised their FY2024 EPS estimates for Hudbay Minerals in a research note issued on Wednesday, November 13th. National Bank Financial analyst S. Nagle now anticipates that the mining company will post earnings per share of $0.47 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 equities research analysts have also commented on the company. Jefferies Financial Group upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Wednesday, August 14th. StockNews.com lowered shares of Hudbay Minerals from a "buy" rating to a "hold" rating in a research note on Tuesday, August 13th. Finally, Stifel Canada raised shares of Hudbay Minerals to a "strong-buy" rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Hudbay Minerals presently has a consensus rating of "Buy" and an average target price of $11.17.

Hudbay Minerals Price Performance

Shares of Hudbay Minerals stock traded down $0.01 on Friday, hitting $8.52. The company had a trading volume of 2,600,431 shares, compared to its average volume of 3,117,713. The business has a 50-day simple moving average of $8.79 and a 200-day simple moving average of $8.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.86 and a quick ratio of 1.49. The company has a market cap of $3.35 billion, a PE ratio of 37.05 and a beta of 1.78. Hudbay Minerals has a 52 week low of $4.27 and a 52 week high of $10.49.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Mountaineer Partners Management LLC boosted its stake in shares of Hudbay Minerals by 792.5% in the 3rd quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company's stock valued at $94,874,000 after purchasing an additional 9,166,952 shares in the last quarter. Regal Partners Ltd bought a new position in Hudbay Minerals in the 2nd quarter worth $22,956,000. Artemis Investment Management LLP bought a new position in shares of Hudbay Minerals in the 3rd quarter worth about $20,907,000. TD Asset Management Inc increased its stake in shares of Hudbay Minerals by 199.4% in the 2nd quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company's stock worth $26,294,000 after acquiring an additional 1,935,709 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in Hudbay Minerals by 2,521.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company's stock valued at $15,861,000 after purchasing an additional 1,685,836 shares in 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.