Letko, Brosseau & Associates Inc. recently announced the acquisition of new stake in Hudbay Minerals Inc. (NYSE:HBM). The institutional investor has increased its shareholding in the Basic Materials company by 2.20% to 17.48 million shares with purchase of 0.38 million shares. This fresh investment now brings its stake to 6.68% valued currently at $86.36 million. In addition, Arrowstreet Capital LP raised its holdings by 2.46 million to 5.0 million shares. And Morgan Stanley Canada Ltd. has lifted its position by 772.87% or 2.98 million shares – to 3.37 million shares.
With over 2.0 million Hudbay Minerals Inc. (HBM) shares trading Tuesday and a closing price of $4.64 on the day, the dollar volume was approximately $9.27 million. The shares have shown a negative half year performance of -1.07% and its price on 03/14/23 gained nearly 0.87%. Currently, there are 261.96M common shares owned by the public and among those 261.63M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for HBM have a consensus price objective of $6.92. The analysts have set the share’s price value over the next 12 months at a high of $8.06 and a low of $5.13. The average price target is 26.23% above its recent price level and an upside to the estimated low will see the stock gain 9.55% over that period. But an upside of 42.43% will see the stock hit the forecast high price target while median target price for the stock is $7.33.
The top 3 mutual fund holders in Hudbay Minerals Inc. are Global X Copper Miners ETF, DFA International Small Cap Value, and DFA International Core Equity Por. Global X Copper Miners ETF owns 5.18 million shares of the company’s stock, all valued at over $25.57 million. DFA International Small Cap Value sold -0.45 million shares to see its total holdings shrink to 4.07 million shares valued at over $20.12 million and representing 1.56% of the shares outstanding. DFA International Core Equity Por sold -0.14 million shares to bring its total holdings to over 4.06 million shares at a value of $20.06 million. DFA International Core Equity Por now owns shares totaling to 1.55% of the shares outstanding.
Shares of Hudbay Minerals Inc. (NYSE: HBM) opened at $4.66, up $0.06 from a prior closing price of $4.60. However, the script later moved the day high at 4.8100, up 0.87%. The company’s stock has a 5-day price change of -6.07% and -13.11% over the past three months. HBM shares are trading -8.48% year to date (YTD), with the 12-month market performance down to -44.96% lower. It has a 12-month low price of $3.08 and touched a high of $8.40 over the same period. HBM has an average intraday trading volume of 2.66 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.02%, -13.63%, and -2.08% respectively.
Institutional ownership of Hudbay Minerals Inc. (NYSE: HBM) shares accounts for 67.60% of the company’s 261.96M shares outstanding. Mutual fund holders own 23.25%, while other institutional holders and individual stakeholders account for 34.86% and — respectively.
It has a market capitalization of $1.72B and a beta (3y monthly) value of 1.99. The stock’s trailing 12-month PE ratio is 12.51, while the earnings-per-share (ttm) stands at $0.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.88% over the week and 4.77% over the month.
Analysts forecast that Hudbay Minerals Inc. (HBM) will achieve an EPS of $0.06 for the current quarter, $0.16 for the next quarter and $0.69 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.06 while analysts give the company a high EPS estimate of $0.15. Comparatively, EPS for the current quarter was $0.13 a year ago. Earnings per share for the fiscal year are expected to increase by 128.70%, and 24.92% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Hudbay Minerals Inc. (HBM) as a “Strong Buy” at a consensus score of 1.80. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 3 of the 15 advise that investors “hold,” and 0 rated it as a “Sell.”
BofA Securities on their part issued Buy rating on April 06, 2021.
