FY2024 EPS Estimates for Hudbay Minerals Inc. (NYSE:HBM) Raised by Analyst

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Analysts at National Bank Financial increased their FY2024 earnings per share estimates for Hudbay Minerals in a report issued on Monday, October 14th. National Bank Financial analyst S. Nagle now forecasts that the mining company will post earnings of $0.37 per share for the year, up from their previous estimate of $0.23. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.49 per share. National Bank Financial also issued estimates for Hudbay Minerals’ FY2025 earnings at $0.68 EPS.

HBM has been the topic of several other reports. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Finally, StockNews.com cut Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. One research 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’s stock. According to MarketBeat, Hudbay Minerals has a consensus rating of “Buy” and a consensus target price of $11.17.

Hudbay Minerals Price Performance

Shares of NYSE HBM opened at $9.20 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $8.14 and its 200 day moving average price is $8.46. Hudbay Minerals has a 52 week low of $3.94 and a 52 week high of $10.49. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 39.98 and a beta of 1.77.

Hudbay Minerals Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 3rd were paid a $0.007 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a yield of 0.2%. Hudbay Minerals’s payout ratio is currently 4.35%.

Institutional Trading of Hudbay Minerals

A number of hedge funds have recently added to or reduced their stakes in HBM. Banque Cantonale Vaudoise lifted its holdings in shares of Hudbay Minerals by 38.7% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after acquiring an additional 1,806 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Hudbay Minerals by 4.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company’s stock valued at $674,000 after buying an additional 2,905 shares during the period. Ballentine Partners LLC increased its holdings in shares of Hudbay Minerals by 32.7% during the 2nd quarter. Ballentine Partners LLC now owns 16,171 shares of the mining company’s stock worth $146,000 after buying an additional 3,983 shares during the last quarter. Strong Tower Advisory Services raised its position in shares of Hudbay Minerals by 8.0% in the 3rd quarter. Strong Tower Advisory Services now owns 61,842 shares of the mining company’s stock worth $568,000 after buying an additional 4,599 shares during the period. Finally, Register Financial Advisors LLC acquired a new position in Hudbay Minerals in the first quarter valued at $35,000. 57.82% of the stock is owned by institutional investors and hedge funds.

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.