Hudbay Minerals Inc. (NYSE:HBM – Free Report) (TSE:HBM) – Analysts at National Bank Financial cut their Q2 2023 earnings per share estimates for Hudbay Minerals in a research note issued on Tuesday, July 11th. National Bank Financial analyst S. Nagle now forecasts that the mining company will post earnings of $0.06 per share for the quarter, down from their prior estimate of $0.16. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.54 per share. National Bank Financial also issued estimates for Hudbay Minerals’ FY2023 earnings at $0.48 EPS and FY2024 earnings at $0.48 EPS.
Other equities research analysts also recently issued research reports about the company. Barclays raised Hudbay Minerals from an “equal weight” rating to an “overweight” rating in a research report on Friday, July 7th. Stifel Nicolaus started coverage on Hudbay Minerals in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, StockNews.com started coverage on Hudbay Minerals in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Hudbay Minerals currently has an average rating of “Moderate Buy” and a consensus target price of $10.21.
Hudbay Minerals Price Performance
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of HBM. Acadian Asset Management LLC boosted its holdings in Hudbay Minerals by 1,066.4% in the first quarter. Acadian Asset Management LLC now owns 6,082,617 shares of the mining company’s stock valued at $31,840,000 after purchasing an additional 5,561,117 shares during the last quarter. Morgan Stanley boosted its holdings in Hudbay Minerals by 517.8% in the fourth quarter. Morgan Stanley now owns 3,543,730 shares of the mining company’s stock valued at $17,967,000 after purchasing an additional 2,970,160 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Hudbay Minerals by 96.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,000,946 shares of the mining company’s stock valued at $25,269,000 after purchasing an additional 2,460,627 shares during the last quarter. Millennium Management LLC boosted its holdings in Hudbay Minerals by 449.3% in the fourth quarter. Millennium Management LLC now owns 2,765,452 shares of the mining company’s stock valued at $13,984,000 after purchasing an additional 2,262,022 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in Hudbay Minerals by 526.4% in the fourth quarter. National Bank of Canada FI now owns 2,411,044 shares of the mining company’s stock valued at $12,179,000 after purchasing an additional 2,026,123 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.
About Hudbay Minerals
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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