Hudbay Minerals Inc Expected to Post FY2019 Earnings of $1.13 Per Share (HBM)

Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) – Investment analysts at National Bank Financial cut their FY2019 EPS estimates for Hudbay Minerals in a report issued on Wednesday. National Bank Financial analyst S. Nagle now forecasts that the mining company will post earnings per share of $1.13 for the year, down from their prior estimate of $1.21. National Bank Financial currently has a “Sector Perform” rating on the stock.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Wednesday, November 1st. The mining company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. Hudbay Minerals had a net margin of 1.34% and a return on equity of 5.04%.

Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a report on Monday, October 23rd. ValuEngine downgraded shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. BMO Capital Markets upped their price objective on shares of Hudbay Minerals from $10.50 to $10.75 and gave the stock a “market perform” rating in a report on Monday, October 2nd. Finally, Canaccord Genuity downgraded shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.25.

Hudbay Minerals (NYSE HBM) traded up $0.15 during mid-day trading on Monday, reaching $9.35. 2,002,300 shares of the company traded hands, compared to its average volume of 1,270,646. The firm has a market capitalization of $2,440.00, a P/E ratio of 155.83 and a beta of 3.17. Hudbay Minerals has a 1-year low of $4.60 and a 1-year high of $10.25. The company has a quick ratio of 1.33, a current ratio of 1.74 and a debt-to-equity ratio of 0.51.

A number of hedge funds have recently bought and sold shares of the stock. Heathbridge Capital Management Ltd. lifted its holdings in Hudbay Minerals by 1.8% in the fourth quarter. Heathbridge Capital Management Ltd. now owns 4,398,200 shares of the mining company’s stock worth $38,704,000 after purchasing an additional 76,000 shares during the period. Addenda Capital Inc. acquired a new stake in Hudbay Minerals in the 4th quarter valued at about $172,000. Guardian Capital LP acquired a new stake in Hudbay Minerals in the 3rd quarter valued at about $1,444,000. Cubist Systematic Strategies LLC lifted its holdings in Hudbay Minerals by 158.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 46,906 shares of the mining company’s stock valued at $348,000 after acquiring an additional 28,726 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Hudbay Minerals in the 3rd quarter valued at about $1,484,000. 63.94% of the stock is owned by institutional investors and hedge funds.

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About Hudbay Minerals

Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.

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

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