National Bank Financial Brokers Decrease Earnings Estimates for Hudbay Minerals Inc. (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBMFree Report) (TSE:HBM) – Analysts at National Bank Financial reduced their FY2023 earnings estimates for Hudbay Minerals in a research note issued to investors on Monday, February 5th. National Bank Financial analyst S. Nagle now forecasts that the mining company will post earnings of $0.14 per share for the year, down from their previous estimate of $0.20. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.16 per share. National Bank Financial also issued estimates for Hudbay Minerals’ FY2024 earnings at $0.28 EPS.

Hudbay Minerals (NYSE:HBMGet Free Report) (TSE:HBM) last released its quarterly earnings results on Wednesday, November 8th. The mining company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). Hudbay Minerals had a return on equity of 0.52% and a net margin of 1.32%. The firm had revenue of $480.46 million during the quarter, compared to analysts’ expectations of $488.65 million.

Hudbay Minerals Price Performance

NYSE HBM opened at $5.30 on Thursday. The firm has a market capitalization of $1.86 billion, a P/E ratio of 176.73, a P/E/G ratio of 0.27 and a beta of 1.95. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.67. Hudbay Minerals has a 12-month low of $3.94 and a 12-month high of $6.01. The firm’s fifty day simple moving average is $5.33 and its two-hundred day simple moving average is $4.97.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. L1 Capital Pty Ltd raised its position in shares of Hudbay Minerals by 15.1% in the third quarter. L1 Capital Pty Ltd now owns 16,299,356 shares of the mining company’s stock worth $79,378,000 after acquiring an additional 2,141,437 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Hudbay Minerals by 28.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock worth $51,836,000 after acquiring an additional 2,085,641 shares during the period. Vanguard Group Inc. raised its position in shares of Hudbay Minerals by 3.6% in the third quarter. Vanguard Group Inc. now owns 7,550,257 shares of the mining company’s stock worth $30,428,000 after acquiring an additional 260,223 shares during the period. Invesco Ltd. raised its position in shares of Hudbay Minerals by 60.2% in the third quarter. Invesco Ltd. now owns 6,998,581 shares of the mining company’s stock worth $34,083,000 after acquiring an additional 2,630,780 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of Hudbay Minerals by 7.2% during the 2nd quarter. Acadian Asset Management LLC now owns 6,523,413 shares of the mining company’s stock worth $31,282,000 after purchasing an additional 440,796 shares during the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

Hudbay Minerals Company Profile

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for Hudbay Minerals (NYSE:HBM)

Receive News & Ratings for Hudbay Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudbay Minerals and related companies with MarketBeat.com's FREE daily email newsletter.