Hudbay Minerals Inc. (NYSE:HBM – Free Report) (TSE:HBM) – Analysts at National Bank Financial dropped their FY2023 earnings per share (EPS) estimates for shares of Hudbay Minerals in a research note issued to investors on Thursday, November 9th. National Bank Financial analyst S. Nagle now anticipates that the mining company will post earnings of $0.18 per share for the year, down from their prior forecast of $0.24. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.18 per share. National Bank Financial also issued estimates for Hudbay Minerals’ Q4 2023 earnings at $0.14 EPS, Q1 2024 earnings at $0.07 EPS, FY2024 earnings at $0.37 EPS and FY2025 earnings at $0.37 EPS.
Several other analysts also recently weighed in on HBM. TD Securities cut their target price on Hudbay Minerals from $11.00 to $10.50 and set a “buy” rating on the stock in a research note on Tuesday, September 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 target price on shares of Hudbay Minerals in a research note on Monday, October 2nd. Credit Suisse Group cut their target price on Hudbay Minerals from $9.00 to $8.00 and set an “outperform” rating on the stock in a research note on Monday, August 21st. StockNews.com began coverage on Hudbay Minerals in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Scotiabank lifted their target price on Hudbay Minerals from $10.00 to $10.50 and gave the company a “sector outperform” rating in a research note on Tuesday, September 19th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.55.
Hudbay Minerals Trading Up 1.7 %
NYSE:HBM opened at $4.14 on Monday. Hudbay Minerals has a 12-month low of $3.94 and a 12-month high of $6.34. The firm has a market capitalization of $1.44 billion, a P/E ratio of 138.05, a P/E/G ratio of 0.75 and a beta of 1.98. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.90 and a quick ratio of 0.53. The business has a 50 day simple moving average of $4.60 and a 200 day simple moving average of $4.84.
Institutional Trading of Hudbay Minerals
Hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning raised its stake in shares of Hudbay Minerals by 37.6% in the 2nd quarter. Creative Planning now owns 29,566 shares of the mining company’s stock worth $142,000 after buying an additional 8,078 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Hudbay Minerals by 10.7% in the 1st quarter. Toronto Dominion Bank now owns 153,431 shares of the mining company’s stock worth $804,000 after acquiring an additional 14,864 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Hudbay Minerals by 40.2% in the 2nd quarter. Van ECK Associates Corp now owns 167,106 shares of the mining company’s stock worth $801,000 after acquiring an additional 47,921 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Hudbay Minerals in the 2nd quarter worth $15,024,000. Finally, Ceredex Value Advisors LLC acquired a new position in shares of Hudbay Minerals in the 2nd quarter worth $10,220,000. Institutional investors own 60.26% of the company’s stock.
Hudbay Minerals Company Profile
Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing copper, gold, and silver; zinc concentrates; zinc metal; and gold and silver doré and molybdenum concentrates.
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