FY2024 EPS Estimate for Hudbay Minerals Decreased by Analyst

Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM - Equities researchers at National Bank Financial cut their FY2024 earnings per share (EPS) estimates for shares of Hudbay Minerals in a report released on Tuesday, February 4th. National Bank Financial analyst S. Nagle now anticipates that the mining company will post earnings of $0.41 per share for the year, down from their previous forecast of $0.47. The consensus estimate for Hudbay Minerals' current full-year earnings is $0.48 per share. National Bank Financial also issued estimates for Hudbay Minerals' Q4 2024 earnings at $0.11 EPS, FY2027 earnings at $0.39 EPS and FY2029 earnings at $1.07 EPS.

Separately, StockNews.com upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a research note on Friday. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $11.17.

Hudbay Minerals Trading Up 3.4 %

Shares of HBM traded up $0.32 during trading hours on Friday, hitting $9.66. The stock had a trading volume of 6,198,962 shares, compared to its average volume of 5,764,033. Hudbay Minerals has a 12-month low of $4.94 and a 12-month high of $10.49. The firm has a market cap of $3.81 billion, a P/E ratio of 42.07 and a beta of 1.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. The company's fifty day simple moving average is $8.58 and its 200 day simple moving average is $8.48.

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

Institutional Trading of Hudbay Minerals

Institutional investors have recently added to or reduced their stakes in the business. Cinctive Capital Management LP boosted its position in shares of Hudbay Minerals by 39.7% in the third quarter. Cinctive Capital Management LP now owns 410,669 shares of the mining company's stock worth $3,777,000 after buying an additional 116,732 shares during the period. Bank of Montreal Can lifted its position in Hudbay Minerals by 23.1% during the 3rd quarter. Bank of Montreal Can now owns 7,691,519 shares of the mining company's stock worth $71,308,000 after acquiring an additional 1,441,991 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Hudbay Minerals by 300.9% in the 3rd quarter. Toronto Dominion Bank now owns 226,841 shares of the mining company's stock worth $2,085,000 after acquiring an additional 170,257 shares during the period. Mountaineer Partners Management LLC grew its position in Hudbay Minerals by 792.5% in the third quarter. Mountaineer Partners Management LLC now owns 10,323,605 shares of the mining company's stock valued at $94,874,000 after acquiring an additional 9,166,952 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Hudbay Minerals by 12.2% during the third quarter. Jennison Associates LLC now owns 3,298,814 shares of the mining company's stock valued at $30,340,000 after purchasing an additional 359,126 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

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.