Hudbay Minerals FY2024 EPS Forecast Reduced by Stifel Canada

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Research analysts at Stifel Canada decreased their FY2024 EPS estimates for shares of Hudbay Minerals in a research note issued on Thursday, January 23rd. Stifel Canada analyst C. Mcgill now expects that the mining company will post earnings of $0.41 per share for the year, down from their prior estimate 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 cut Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Price Performance

Shares of Hudbay Minerals stock opened at $7.99 on Monday. The firm has a market cap of $3.15 billion, a PE ratio of 34.72 and a beta of 1.76. The stock has a 50 day moving average of $8.63 and a 200 day moving average of $8.47. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. Hudbay Minerals has a 12 month low of $4.94 and a 12 month high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Wednesday, November 13th. The mining company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company earned $0.07 EPS.

Institutional Investors Weigh In On Hudbay Minerals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Hudbay Minerals in the 4th quarter worth about $335,000. Cibc World Market Inc. grew its position in Hudbay Minerals by 4.3% in the 4th quarter. Cibc World Market Inc. now owns 1,879,561 shares of the mining company’s stock valued at $15,240,000 after acquiring an additional 78,267 shares during the last quarter. First Affirmative Financial Network boosted its stake in shares of Hudbay Minerals by 39.2% during the fourth quarter. First Affirmative Financial Network now owns 15,563 shares of the mining company’s stock valued at $126,000 after purchasing an additional 4,386 shares during the period. Blue Trust Inc. grew its holdings in shares of Hudbay Minerals by 83.8% in the fourth quarter. Blue Trust Inc. now owns 46,749 shares of the mining company’s stock worth $379,000 after purchasing an additional 21,310 shares during the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Hudbay Minerals by 32.1% in the fourth quarter. Ballentine Partners LLC now owns 20,820 shares of the mining company’s stock worth $169,000 after purchasing an additional 5,064 shares during the last quarter. 57.82% of the stock is currently owned by hedge funds and other 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.