Scotiabank Lowers Earnings Estimates for HudBay Minerals

HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM - Analysts at Scotiabank lowered their FY2026 earnings per share estimates for HudBay Minerals in a note issued to investors on Tuesday, July 15th. Scotiabank analyst O. Wowkodaw now forecasts that the mining company will post earnings per share of $0.55 for the year, down from their previous forecast of $0.58. Scotiabank currently has a "Outperform" rating on the stock. The consensus estimate for HudBay Minerals' current full-year earnings is $0.79 per share.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings data on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.14. HudBay Minerals had a net margin of 7.40% and a return on equity of 8.17%. The company had revenue of $594.90 million during the quarter, compared to the consensus estimate of $537.36 million. During the same quarter in the prior year, the company posted $0.22 EPS. The company's quarterly revenue was up 13.3% compared to the same quarter last year.

Other research analysts have also recently issued research reports about the company. Wall Street Zen cut HudBay Minerals from a "strong-buy" rating to a "buy" rating in a research note on Friday. Desjardins began coverage on HudBay Minerals in a research report on Friday, April 4th. They issued a "buy" rating for the company. CIBC reissued an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday. Veritas raised HudBay Minerals to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Raymond James Financial raised HudBay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, HudBay Minerals presently has an average rating of "Buy".

HudBay Minerals Stock Down 0.3%

Shares of HudBay Minerals stock traded down $0.03 on Friday, hitting $9.77. 6,575,812 shares of the company's stock traded hands, compared to its average volume of 5,653,492. The company has a quick ratio of 1.92, a current ratio of 2.32 and a debt-to-equity ratio of 0.42. The stock has a market cap of $3.86 billion, a P/E ratio of 25.71, a PEG ratio of 0.27 and a beta of 1.63. HudBay Minerals has a 52-week low of $5.95 and a 52-week high of $11.13. The firm's 50-day moving average is $9.63 and its 200 day moving average is $8.46.

Institutional Investors Weigh In On HudBay Minerals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HBM. Norges Bank acquired a new position in HudBay Minerals during the fourth quarter valued at approximately $50,260,000. Millennium Management LLC boosted its position in HudBay Minerals by 298.5% during the first quarter. Millennium Management LLC now owns 6,115,053 shares of the mining company's stock valued at $46,411,000 after purchasing an additional 4,580,718 shares during the last quarter. L1 Capital Pty Ltd boosted its position in HudBay Minerals by 44.1% during the first quarter. L1 Capital Pty Ltd now owns 14,423,384 shares of the mining company's stock valued at $109,365,000 after purchasing an additional 4,410,778 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in HudBay Minerals by 144.2% during the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company's stock valued at $55,264,000 after purchasing an additional 4,299,428 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in HudBay Minerals by 86.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,149,134 shares of the mining company's stock valued at $74,105,000 after purchasing an additional 4,253,400 shares during the last quarter. Institutional investors own 57.82% of the company's stock.

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.