Analysts Issue Forecasts for Hudbay Minerals FY2024 Earnings

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Research analysts at Scotiabank raised their FY2024 earnings per share estimates for Hudbay Minerals in a note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now expects that the mining company will earn $0.51 per share for the year, up from their previous 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 released its quarterly earnings results 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 company had revenue of $485.80 million during the quarter, compared to analysts’ expectations of $454.47 million. During the same period in the previous year, the firm posted $0.07 earnings per share. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year.

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

Hudbay Minerals Price Performance

Shares of NYSE:HBM opened at $8.83 on Thursday. The company has a market cap of $3.48 billion, a P/E ratio of 38.39 and a beta of 1.76. The business has a fifty day simple moving average of $8.74 and a 200-day simple moving average of $8.54. Hudbay Minerals has a 52 week low of $4.94 and a 52 week high of $10.49. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44.

Institutional Investors Weigh In On Hudbay Minerals

Several large investors have recently made changes to their positions in HBM. Oliver Luxxe Assets LLC lifted its position in shares of Hudbay Minerals by 2.5% during the fourth quarter. Oliver Luxxe Assets LLC now owns 132,498 shares of the mining company’s stock worth $1,073,000 after purchasing an additional 3,282 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Hudbay Minerals in the third quarter worth about $886,000. Sanctuary Advisors LLC acquired a new stake in Hudbay Minerals during the 3rd quarter valued at approximately $178,000. Barclays PLC increased its holdings in Hudbay Minerals by 2,414.5% during the 3rd quarter. Barclays PLC now owns 86,475 shares of the mining company’s stock worth $795,000 after purchasing an additional 83,036 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of Hudbay Minerals in the 3rd quarter valued at approximately $2,771,000. Institutional investors and hedge funds own 57.82% of the company’s stock.

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.