Scotiabank Research Analysts Reduce Earnings Estimates for Hudbay Minerals Inc. (TSE:HBM)

Hudbay Minerals Inc. (TSE:HBMFree Report) (NYSE:HBM) – Analysts at Scotiabank decreased their FY2023 earnings estimates for shares of Hudbay Minerals in a research note issued on Tuesday, February 6th. Scotiabank analyst O. Wowkodaw now forecasts that the mining company will post earnings per share of $0.17 for the year, down from their prior forecast of $0.19. Scotiabank currently has a “Outperform” rating and a $11.00 target price on the stock. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.88 per share. Scotiabank also issued estimates for Hudbay Minerals’ Q4 2023 earnings at $0.12 EPS, Q1 2024 earnings at $0.07 EPS, Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.12 EPS, Q4 2024 earnings at $0.13 EPS, FY2024 earnings at $0.44 EPS, FY2027 earnings at $1.01 EPS and FY2028 earnings at $1.52 EPS.

Several other equities research analysts have also recently issued reports on the stock. TD Securities raised their price target on shares of Hudbay Minerals from C$10.00 to C$10.50 and gave the stock a “buy” rating in a research note on Friday, December 8th. BMO Capital Markets decreased their price target on shares of Hudbay Minerals from C$9.50 to C$8.50 and set an “outperform” rating on the stock in a research note on Friday, December 22nd. Bank of America raised their price target on shares of Hudbay Minerals from C$6.75 to C$8.50 in a research note on Tuesday, January 2nd. Raymond James decreased their price target on shares of Hudbay Minerals from C$10.00 to C$9.00 in a research note on Tuesday. Finally, Eight Capital set a C$11.50 price target on shares of Hudbay Minerals and gave the stock a “buy” rating in a research note on Wednesday, December 6th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from, Hudbay Minerals presently has a consensus rating of “Moderate Buy” and a consensus price target of C$9.31.

Read Our Latest Stock Analysis on HBM

Hudbay Minerals Price Performance

Shares of TSE HBM opened at C$6.99 on Friday. Hudbay Minerals has a 52 week low of C$5.46 and a 52 week high of C$7.92. The stock has a market cap of C$2.44 billion, a price-to-earnings ratio of 99.86, a PEG ratio of 3.97 and a beta of 1.97. The company’s 50-day moving average price is C$7.16 and its 200 day moving average price is C$6.72. The company has a current ratio of 1.26, a quick ratio of 0.85 and a debt-to-equity ratio of 69.05.

Hudbay Minerals (TSE:HBMGet Free Report) (NYSE:HBM) last issued its quarterly earnings data on Wednesday, November 8th. The mining company reported C$0.09 EPS for the quarter, missing analysts’ consensus estimates of C$0.13 by C($0.04). The business had revenue of C$644.59 million during the quarter, compared to analyst estimates of C$669.09 million. Hudbay Minerals had a net margin of 1.29% and a return on equity of 1.00%.

Insider Activity

In other news, Senior Officer Peter Adamek sold 7,400 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of C$5.97, for a total transaction of C$44,178.00. Insiders own 0.08% of the company’s stock.

About Hudbay Minerals

(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.

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

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