Scotiabank Decreases Earnings Estimates for HudBay Minerals

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) – Equities researchers at Scotiabank reduced their FY2026 earnings per share estimates for shares of HudBay Minerals in a note issued to investors on Monday, November 2nd. Scotiabank analyst O. Wowkodaw now anticipates that the mining company will earn $1.44 per share for the year, down from their prior forecast 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.

A number of other brokerages have also recently weighed in on HBM. Weiss Ratings upgraded HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Bank of America decreased their price objective on shares of HudBay Minerals from $33.50 to $29.50 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Citigroup reissued a “positive” rating on shares of HudBay Minerals in a research note on Wednesday, July 15th. Barclays restated an “overweight” rating on shares of HudBay Minerals in a report on Tuesday, October 6th. Finally, Wall Street Zen cut shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Sunday, October 25th. 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.com, HudBay Minerals presently has a consensus rating of “Moderate Buy” and an average price target of $31.33.

HudBay Minerals Stock Performance

NYSE HBM opened at $22.22 on Thursday. The business has a 50 day moving average price of $25.73 and a 200 day moving average price of $24.83. 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. HudBay Minerals has a 1-year low of $14.34 and a 1-year high of $32.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93.

Hedge Funds Weigh In On HudBay Minerals

A number of large investors have recently bought and sold shares of the stock. Quantinno Capital Management LP grew its stake in shares of HudBay Minerals by 6.0% during the 1st quarter. Quantinno Capital Management LP now owns 11,597 shares of the mining company’s stock valued at $242,000 after buying an additional 657 shares during the period. Rockefeller Capital Management L.P. grew its position in HudBay Minerals by 25.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,933 shares of the mining company’s stock valued at $98,000 after acquiring an additional 986 shares during the period. Wealthcare Advisory Partners LLC grew its position in HudBay Minerals by 2.7% during the second quarter. Wealthcare Advisory Partners LLC now owns 37,766 shares of the mining company’s stock valued at $892,000 after acquiring an additional 992 shares during the period. Rakuten Securities Inc. acquired a new stake in HudBay Minerals during the second quarter worth about $28,000. Finally, Bullseye Investment Management LLC acquired a new stake in HudBay Minerals during the second quarter worth about $30,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

HudBay Minerals Company Profile

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.