What is Cormark’s Forecast for Hudbay Minerals Q4 Earnings?

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Equities research analysts at Cormark boosted their Q4 2024 EPS estimates for shares of Hudbay Minerals in a research report issued to clients and investors on Thursday, November 14th. Cormark analyst S. Ioannou now expects that the mining company will post earnings of $0.36 per share for the quarter, up from their prior estimate of $0.32. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.48 per share. Cormark also issued estimates for Hudbay Minerals’ Q1 2025 earnings at $0.25 EPS, Q2 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.25 EPS, Q4 2025 earnings at $0.18 EPS and FY2025 earnings at $0.93 EPS.

A number of other research firms have also commented on HBM. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Five investment 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, the stock currently has an average rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Stock Performance

Shares of HBM opened at $8.52 on Friday. Hudbay Minerals has a 52-week low of $4.27 and a 52-week high of $10.49. The stock’s 50-day simple moving average is $8.79 and its 200 day simple moving average is $8.68. 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 stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 37.04 and a beta of 1.78.

Hedge Funds Weigh In On Hudbay Minerals

A number of institutional investors have recently bought and sold shares of the stock. Prospera Private Wealth LLC purchased a new stake in Hudbay Minerals in the third quarter worth $28,000. Exchange Traded Concepts LLC bought a new stake in shares of Hudbay Minerals in the 3rd quarter worth approximately $53,000. Clear Harbor Asset Management LLC purchased a new position in shares of Hudbay Minerals in the 3rd quarter worth about $92,000. Ritholtz Wealth Management bought a new position in Hudbay Minerals in the 2nd quarter worth about $96,000. Finally, Armistice Capital LLC purchased a new stake in Hudbay Minerals during the 2nd quarter valued at about $97,000. 57.82% of the stock is owned by institutional investors.

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.