Scotiabank Increases Earnings Estimates for Hudbay Minerals

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Equities researchers at Scotiabank raised their FY2024 earnings per share estimates for Hudbay Minerals in a report issued on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now anticipates that the mining company will post earnings of $0.51 per share for the year, up from their prior 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.

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

Separately, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Hudbay Minerals presently has a consensus rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Trading Up 2.4 %

Shares of HBM opened at $8.83 on Thursday. The firm’s 50-day moving average is $8.74 and its two-hundred day moving average is $8.54. Hudbay Minerals has a twelve month low of $4.94 and a twelve month high of $10.49. 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 firm has a market capitalization of $3.48 billion, a P/E ratio of 38.39 and a beta of 1.76.

Hedge Funds Weigh In On Hudbay Minerals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in Hudbay Minerals in the third quarter valued at about $28,000. Exchange Traded Concepts LLC acquired a new stake in shares of Hudbay Minerals in the third quarter valued at about $53,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Hudbay Minerals during the 3rd quarter valued at about $92,000. Armistice Capital LLC acquired a new position in Hudbay Minerals during the 2nd quarter worth approximately $97,000. Finally, First Affirmative Financial Network purchased a new position in Hudbay Minerals in the 3rd quarter worth approximately $103,000. 57.82% of the stock is owned by institutional investors and hedge funds.

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.