FY2024 EPS Estimates for Hudbay Minerals Lowered by Analyst

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Equities researchers at Stifel Canada reduced their FY2024 earnings per share estimates for shares of Hudbay Minerals in a note issued to investors on Thursday, January 23rd. Stifel Canada analyst C. Mcgill now expects that the mining company will post earnings per share of $0.41 for the year, down from their previous forecast of $0.68. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.54 per share. Stifel Canada also issued estimates for Hudbay Minerals’ Q4 2024 earnings at $0.12 EPS, FY2026 earnings at $1.01 EPS and FY2027 earnings at $0.98 EPS.

Separately, StockNews.com downgraded shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals Price Performance

Shares of NYSE HBM opened at $7.99 on Monday. Hudbay Minerals has a 1 year low of $4.94 and a 1 year high of $10.49. The company’s 50-day moving average is $8.63 and its 200 day moving average is $8.47. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. The stock has a market capitalization of $3.15 billion, a P/E ratio of 34.72 and a beta of 1.76.

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

Hedge Funds Weigh In On Hudbay Minerals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prospera Private Wealth LLC purchased a new position in Hudbay Minerals in the 3rd quarter worth about $28,000. Exchange Traded Concepts LLC purchased a new stake in Hudbay Minerals during the 3rd quarter valued at $53,000. Clear Harbor Asset Management LLC bought a new position in shares of Hudbay Minerals during the 3rd quarter valued at $92,000. First Affirmative Financial Network purchased a new position in shares of Hudbay Minerals in the 3rd quarter worth $103,000. Finally, Algert Global LLC bought a new stake in shares of Hudbay Minerals in the second quarter worth $111,000. 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.