Brokers Issue Forecasts for Hudbay Minerals FY2024 Earnings

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Research analysts at National Bank Financial lifted their FY2024 earnings estimates for Hudbay Minerals in a research report issued on Wednesday, November 13th. National Bank Financial analyst S. Nagle now forecasts that the mining company will post earnings of $0.47 per share for the year, up from their prior forecast of $0.37. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.48 per share.

Other research analysts also recently issued reports about the stock. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. StockNews.com downgraded shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group upgraded shares of 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. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Price Performance

Shares of HBM opened at $8.53 on Friday. The firm has a market capitalization of $3.36 billion, a PE ratio of 37.09 and a beta of 1.78. The company’s fifty day moving average price is $8.76 and its 200-day moving average price is $8.68. Hudbay Minerals has a 1-year low of $4.27 and a 1-year high of $10.49. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.86 and a quick ratio of 1.49.

Institutional Trading of Hudbay Minerals

Institutional investors and hedge funds have recently modified their holdings of the stock. Prospera Private Wealth LLC purchased a new stake in shares of Hudbay Minerals during the third quarter worth about $28,000. Exchange Traded Concepts LLC purchased a new stake in Hudbay Minerals during the 3rd quarter valued at about $53,000. Clear Harbor Asset Management LLC purchased a new stake in Hudbay Minerals during the 3rd quarter valued at about $92,000. Ritholtz Wealth Management purchased a new stake in Hudbay Minerals during the 2nd quarter valued at about $96,000. Finally, Armistice Capital LLC purchased a new stake in Hudbay Minerals during the 2nd quarter valued at about $97,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

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.