Stifel Canada Comments on Hudbay Minerals Inc.’s Q2 2024 Earnings (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Analysts at Stifel Canada reduced their Q2 2024 earnings estimates for shares of Hudbay Minerals in a research report issued to clients and investors on Monday, July 22nd. Stifel Canada analyst M. Tapscott now forecasts that the mining company will post earnings of $0.06 per share for the quarter, down from their previous estimate 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.

HBM has been the topic of several other research reports. Jefferies Financial Group upped their price target on shares of Hudbay Minerals from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. Bank of America raised 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. Finally, National Bank Financial upgraded shares of Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 14th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $10.36.

Hudbay Minerals Stock Down 0.2 %

Shares of NYSE HBM opened at $7.98 on Wednesday. The firm’s 50-day simple moving average is $9.14 and its 200 day simple moving average is $7.54. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 34.67 and a beta of 1.82. The company has a quick ratio of 1.00, a current ratio of 1.40 and a debt-to-equity ratio of 0.61. Hudbay Minerals has a 12-month low of $3.94 and a 12-month high of $10.49.

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

Hedge Funds Weigh In On Hudbay Minerals

Several hedge funds have recently made changes to their positions in the business. Register Financial Advisors LLC bought a new position in shares of Hudbay Minerals in the first quarter valued at $35,000. Banque Cantonale Vaudoise grew its stake in shares of Hudbay Minerals by 38.7% in the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after buying an additional 1,806 shares in the last quarter. Ballentine Partners LLC bought a new position in shares of Hudbay Minerals in the first quarter valued at $85,000. Counterpoint Mutual Funds LLC bought a new position in shares of Hudbay Minerals in the first quarter valued at $130,000. Finally, Blue Trust Inc. grew its stake in shares of Hudbay Minerals by 60,870.8% in the second quarter. Blue Trust Inc. now owns 14,633 shares of the mining company’s stock valued at $132,000 after buying an additional 14,609 shares in the last quarter. 57.82% of the stock is owned by 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.