Hudbay Minerals FY2024 EPS Lifted by National Bank Financial

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – National Bank Financial lifted their FY2024 earnings per share (EPS) estimates for shares of Hudbay Minerals in a report issued on Wednesday, November 13th. National Bank Financial analyst S. Nagle now expects 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.

Other analysts have also issued reports about the stock. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Jefferies Financial Group raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals Price Performance

NYSE HBM opened at $8.52 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.86. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 37.05 and a beta of 1.78. The stock has a 50-day moving average of $8.79 and a 200 day moving average of $8.68. Hudbay Minerals has a one year low of $4.27 and a one year high of $10.49.

Institutional Investors Weigh In On Hudbay Minerals

Several hedge funds and other institutional investors have recently modified their holdings of HBM. Vanguard Group Inc. raised its position in shares of Hudbay Minerals by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock valued at $60,861,000 after purchasing an additional 272,635 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Hudbay Minerals by 46.3% in the first quarter. BNP Paribas Financial Markets now owns 185,166 shares of the mining company’s stock worth $1,296,000 after acquiring an additional 58,585 shares during the period. Boston Partners boosted its stake in shares of Hudbay Minerals by 29.1% in the first quarter. Boston Partners now owns 552,226 shares of the mining company’s stock worth $3,866,000 after acquiring an additional 124,376 shares during the period. Russell Investments Group Ltd. grew its position in shares of Hudbay Minerals by 88.8% during the first quarter. Russell Investments Group Ltd. now owns 281,015 shares of the mining company’s stock worth $1,969,000 after purchasing an additional 132,142 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new stake in Hudbay Minerals during the 3rd quarter valued at approximately $20,907,000. 57.82% of the stock is currently 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.