FY2024 EPS Estimate for Hudbay Minerals Raised by Analyst

Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM - Equities research analysts at National Bank Financial lifted their FY2024 earnings per share (EPS) estimates for Hudbay Minerals in a note issued to investors on Monday, October 14th. National Bank Financial analyst S. Nagle now anticipates that the mining company will post earnings of $0.37 per share for the year, up from their previous forecast of $0.23. The consensus estimate for Hudbay Minerals' current full-year earnings is $0.49 per share. National Bank Financial also issued estimates for Hudbay Minerals' FY2025 earnings at $0.68 EPS.

HBM has been the subject of several other research reports. StockNews.com lowered Hudbay Minerals from a "buy" rating to a "hold" rating in a report on Tuesday, August 13th. Stifel Canada upgraded Hudbay Minerals to a "strong-buy" rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Wednesday, August 14th. One investment 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. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $11.17.

Hudbay Minerals Stock Performance

Shares of HBM traded up $0.03 during trading hours on Thursday, hitting $9.21. The stock had a trading volume of 1,563,630 shares, compared to its average volume of 3,123,659. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.86 and a quick ratio of 1.49. Hudbay Minerals has a 12 month low of $3.94 and a 12 month high of $10.49. The firm has a market capitalization of $3.62 billion, a PE ratio of 39.98 and a beta of 1.77. The stock has a fifty day moving average price of $8.14 and a 200 day moving average price of $8.46.

Hedge Funds Weigh In On Hudbay Minerals

Several large investors have recently made changes to their positions in the business. Vontobel Holding Ltd. lifted its position in shares of Hudbay Minerals by 22.3% in the third quarter. Vontobel Holding Ltd. now owns 200,838 shares of the mining company's stock valued at $1,847,000 after acquiring an additional 36,657 shares in the last quarter. Creative Planning lifted its position in shares of Hudbay Minerals by 37.1% in the third quarter. Creative Planning now owns 29,142 shares of the mining company's stock valued at $268,000 after acquiring an additional 7,881 shares in the last quarter. Oliver Luxxe Assets LLC purchased a new stake in shares of Hudbay Minerals in the third quarter worth about $1,187,000. Exchange Traded Concepts LLC purchased a new stake in shares of Hudbay Minerals in the third quarter worth about $53,000. Finally, First Affirmative Financial Network purchased a new stake in shares of Hudbay Minerals in the third quarter worth about $103,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

Hudbay Minerals Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 3rd were given a $0.007 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a dividend yield of 0.2%. Hudbay Minerals's payout ratio is 4.35%.

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.