Hudbay Minerals Inc. (NYSE:HBM – Get Rating) (TSE:HBM) – Raymond James increased their Q1 2023 EPS estimates for Hudbay Minerals in a research note issued on Monday, January 30th. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings per share of $0.26 for the quarter, up from their prior estimate of $0.21. The consensus estimate for Hudbay Minerals' current full-year earnings is $0.15 per share. Raymond James also issued estimates for Hudbay Minerals' Q2 2023 earnings at $0.29 EPS, Q3 2023 earnings at $0.30 EPS, Q4 2023 earnings at $0.31 EPS and FY2023 earnings at $1.15 EPS.
Get Hudbay Minerals alerts:Hudbay Minerals (NYSE:HBM – Get Rating) (TSE:HBM) last posted its quarterly earnings data on Wednesday, November 2nd. The mining company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $346.17 million during the quarter, compared to analyst estimates of $290.09 million. Hudbay Minerals had a net margin of 4.94% and a return on equity of 3.61%.
HBM has been the subject of several other reports. Scotiabank reaffirmed a "sector outperform" rating on shares of Hudbay Minerals in a research note on Monday, October 24th. Credit Suisse Group lifted their price objective on shares of Hudbay Minerals from C$8.50 to C$9.00 in a research note on Thursday. StockNews.com lowered shares of Hudbay Minerals from a "buy" rating to a "hold" rating in a research note on Friday, January 13th. Barclays lowered shares of Hudbay Minerals from an "overweight" rating to an "equal weight" rating in a research note on Monday, October 17th. Finally, National Bank Financial lifted their target price on Hudbay Minerals from C$7.50 to C$8.50 in a research report on Monday, January 9th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $10.17.Hudbay Minerals Stock Down 5.9 %
NYSE HBM opened at $5.43 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.24 and a debt-to-equity ratio of 0.78. The company has a fifty day moving average of $5.52 and a two-hundred day moving average of $4.70. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 0.66 and a beta of 1.94. Hudbay Minerals has a 52 week low of $3.08 and a 52 week high of $8.75.
Institutional Trading of Hudbay Minerals
Several institutional investors and hedge funds have recently made changes to their positions in HBM. Grayhawk Investment Strategies Inc. bought a new stake in shares of Hudbay Minerals in the second quarter valued at about $31,000. US Bancorp DE raised its holdings in shares of Hudbay Minerals by 122.4% in the first quarter. US Bancorp DE now owns 7,899 shares of the mining company's stock valued at $62,000 after acquiring an additional 4,347 shares in the last quarter. Stratos Wealth Advisors LLC bought a new stake in shares of Hudbay Minerals in the fourth quarter valued at about $51,000. Meridian Wealth Management LLC bought a new stake in shares of Hudbay Minerals in the second quarter valued at about $49,000. Finally, Evergreen Capital Management LLC bought a new stake in shares of Hudbay Minerals in the third quarter valued at about $51,000. 80.19% of the stock is currently owned by institutional investors.
About Hudbay Minerals
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Hudbay Minerals, Inc operates as a mining company. The firm engages in the production of copper concentrate, molybdenum concentrate and zinc metal. It focuses on the discovery, production and marketing of base and precious metals. The company was founded on January 16, 1996 and is headquartered in Toronto, Canada.
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