Hudbay Minerals FY2024 EPS Estimate Lifted by Stifel Canada

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Analysts at Stifel Canada boosted their FY2024 earnings per share (EPS) estimates for shares of Hudbay Minerals in a research note issued to investors on Sunday, December 15th. Stifel Canada analyst C. Mcgill now expects that the mining company will post earnings per share of $0.68 for the year, up from their prior forecast of $0.61. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.55 per share.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its 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. The firm had revenue of $485.80 million during the quarter, compared to analysts’ expectations of $454.47 million. Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. Hudbay Minerals’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 EPS.

Separately, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $11.17.

Hudbay Minerals Price Performance

Shares of NYSE HBM opened at $8.36 on Tuesday. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The stock has a market cap of $3.29 billion, a P/E ratio of 36.35 and a beta of 1.77. Hudbay Minerals has a twelve month low of $4.94 and a twelve month high of $10.49. The stock has a 50 day moving average of $9.08 and a two-hundred day moving average of $8.61.

Hedge Funds Weigh In On Hudbay Minerals

Institutional investors have recently added to or reduced their stakes in the business. Prospera Private Wealth LLC acquired a new position in Hudbay Minerals during the third quarter worth approximately $28,000. Exchange Traded Concepts LLC purchased a new stake in Hudbay Minerals during the third quarter valued at about $53,000. Clear Harbor Asset Management LLC acquired a new stake in Hudbay Minerals during the third quarter worth about $92,000. Ritholtz Wealth Management purchased a new stake in shares of Hudbay Minerals during the 2nd quarter worth about $96,000. Finally, Armistice Capital LLC purchased a new position in Hudbay Minerals in the second quarter valued at approximately $97,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

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.