Scotiabank Weighs in on HudBay Minerals FY2026 Earnings

Key Points

• Scotiabank cut its FY2026 EPS forecast for HudBay Minerals to $1.44 from $1.47, while maintaining an “Outperform” rating. Its revised estimate remains above the $1.40 consensus.
• Analyst sentiment is broadly positive: 10 analysts rate the stock Buy and two rate it Hold, giving HudBay a “Moderate Buy” consensus and a $31.33 average price target.
• HudBay shares were reported up 3.6%; institutional investors and hedge funds own 57.82% of the company’s stock.

HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM - Equities research analysts at Scotiabank dropped their FY2026 earnings per share (EPS) estimates for HudBay Minerals in a research note issued on Monday, November 2nd. Scotiabank analyst O. Wowkodaw now anticipates that the mining company will post earnings of $1.44 per share for the year, down from their prior estimate of $1.47. Scotiabank currently has an "Outperform" rating on the stock. The consensus estimate for HudBay Minerals' current full-year earnings is $1.40 per share.

Several other research analysts have also commented on HBM. Wall Street Zen lowered HudBay Minerals from a "buy" rating to a "hold" rating in a research report on Sunday, October 25th. Bank of America decreased their price objective on HudBay Minerals from $33.50 to $29.50 and set a "buy" rating for the company in a report on Thursday, July 9th. Citigroup restated a "positive" rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Weiss Ratings raised shares of HudBay Minerals from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Finally, Barclays reaffirmed an "overweight" rating on shares of HudBay Minerals in a report on Tuesday, October 6th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $31.33.

HudBay Minerals Stock Up 3.6%

HudBay Minerals stock opened at $22.22 on Thursday. The company has a market capitalization of $9.87 billion, a P/E ratio of 13.07, a PEG ratio of 0.39 and a beta of 1.62. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24. HudBay Minerals has a fifty-two week low of $14.34 and a fifty-two week high of $32.15. The stock has a 50-day simple moving average of $25.73 and a 200-day simple moving average of $24.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rakuten Securities Inc. acquired a new stake in HudBay Minerals in the second quarter valued at $28,000. Bullseye Investment Management LLC purchased a new stake in shares of HudBay Minerals during the 2nd quarter worth $30,000. Fiduciary Financial Advisors purchased a new stake in shares of HudBay Minerals during the 2nd quarter worth $32,000. Integrated Wealth Concepts LLC acquired a new position in shares of HudBay Minerals during the 2nd quarter worth $36,000. Finally, EFG International AG acquired a new position in shares of HudBay Minerals during the 2nd quarter worth $38,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

About HudBay Minerals

Hudbay Minerals Inc is a Canadian mining company focused primarily on the exploration, development, and operation of copper, gold, zinc, and silver deposits. Copper is its principal product, with associated precious and base metals produced from several of its operations.

The company operates in Canada, Peru, and the United States. Its assets include the Constancia copper-molybdenum mine in southern Peru; the Snow Lake operations in Manitoba, which produce copper, gold, zinc, and silver; and the Copper Mountain mine in British Columbia.

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