FY2024 EPS Forecast for Hudbay Minerals Decreased by Analyst

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Analysts at National Bank Financial lowered their FY2024 earnings per share estimates for Hudbay Minerals in a note issued to investors on Tuesday, February 4th. National Bank Financial analyst S. Nagle now forecasts that the mining company will post earnings per share of $0.41 for the year, down from their previous forecast of $0.47. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.52 per share. National Bank Financial also issued estimates for Hudbay Minerals’ Q4 2024 earnings at $0.11 EPS, FY2027 earnings at $0.39 EPS and FY2029 earnings at $1.07 EPS.

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

Hudbay Minerals Price Performance

Shares of HBM opened at $8.97 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average is $8.58 and its two-hundred day moving average is $8.47. Hudbay Minerals has a twelve month low of $4.94 and a twelve month high of $10.49. The firm has a market capitalization of $3.54 billion, a PE ratio of 38.98 and a beta of 1.74.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HBM. Prospera Private Wealth LLC purchased a new stake in shares of Hudbay Minerals during the 3rd quarter worth approximately $28,000. Exchange Traded Concepts LLC purchased a new stake in Hudbay Minerals during the third quarter worth $53,000. Clear Harbor Asset Management LLC acquired a new stake in Hudbay Minerals in the third quarter valued at $92,000. First Affirmative Financial Network acquired a new stake in Hudbay Minerals in the third quarter valued at $103,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Hudbay Minerals in the fourth quarter valued at $95,000. 57.82% of the stock is owned by hedge funds and other institutional investors.

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.