Stifel Canada Equities Analysts Lower Earnings Estimates for Hudbay Minerals Inc. (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Analysts at Stifel Canada cut their Q2 2024 earnings per share (EPS) estimates for Hudbay Minerals in a note issued to investors on Monday, July 22nd. Stifel Canada analyst M. Tapscott now expects that the mining company will post earnings per share of $0.06 for the quarter, down from their prior forecast of $0.12. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.64 per share. Stifel Canada also issued estimates for Hudbay Minerals’ FY2025 earnings at $1.07 EPS.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Tuesday, May 14th. The mining company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.03 by $0.13. The company had revenue of $524.99 million during the quarter, compared to analyst estimates of $463.69 million. Hudbay Minerals had a return on equity of 6.22% and a net margin of 4.36%.

Several other analysts also recently issued reports on the stock. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. Jefferies Financial Group lifted their price target on shares of Hudbay Minerals from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Friday, July 12th. National Bank Financial raised shares of Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 14th. Finally, Bank of America raised shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price target for the company in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Hudbay Minerals presently has a consensus rating of “Buy” and a consensus target price of $10.36.

Hudbay Minerals Trading Down 0.2 %

HBM opened at $7.98 on Wednesday. The firm has a market cap of $3.14 billion, a P/E ratio of 34.67 and a beta of 1.82. Hudbay Minerals has a 12 month low of $3.94 and a 12 month high of $10.49. The company has a current ratio of 1.40, a quick ratio of 1.00 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average of $9.14 and a 200 day moving average of $7.54.

Hedge Funds Weigh In On Hudbay Minerals

Institutional investors and hedge funds have recently bought and sold shares of the company. Donald Smith & CO. Inc. grew its holdings in shares of Hudbay Minerals by 475.3% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,602,687 shares of the mining company’s stock valued at $25,407,000 after buying an additional 3,802,687 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Hudbay Minerals during the fourth quarter valued at $14,618,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Hudbay Minerals by 28.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock valued at $51,836,000 after buying an additional 2,085,641 shares during the last quarter. Galibier Capital Management Ltd. purchased a new stake in shares of Hudbay Minerals during the first quarter valued at $12,604,000. Finally, Jennison Associates LLC grew its holdings in shares of Hudbay Minerals by 92.7% during the first quarter. Jennison Associates LLC now owns 2,821,920 shares of the mining company’s stock valued at $19,757,000 after buying an additional 1,357,241 shares during the last quarter. 57.82% of the stock is 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.