Investors Getting Picky When It Comes To Buying Hudbay Minerals Inc. (HBM)

Hudbay Minerals Inc. (NYSE:HBM) does about 2.65M shares in volume on a normal day but saw 1892974 shares change hands in Friday’s trading. The company now has a market cap of 3.08B USD. Its current market price is $8.78, marking an increase of 0.23% compared to the previous close of $8.76. The 52 week high reached by this stock is $8.85 whilst the lowest price level in 52 weeks is $3.94.

Hudbay Minerals Inc. (HBM) has a 20-day trading average at $8.18 and the current price is -0.73% off the 52-week high compared with 122.84% distance from its 52-week low. The 50-day simple moving average of the closing price is $7.41 and its 200-day simple moving average is $5.60. If we look at the stock’s price movements over the week, volatility stands at 2.58%, which increases to 3.66% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 70.17 to suggest the stock is overbought.

The consensus objective for the share price is $9.36, suggesting that the stock has a potential upside of 6.2% over the period.

BofA Securities upgraded the stock to “Buy” from Neutral on April 09, 2024 at a price target of $9.

Hudbay Minerals Inc. (HBM) stock is up 4.90% over the week and 12.71% over the past month. Its price is 59.06% year-to-date and 74.55% over the past year.

The stock last released its quarterly earnings report for quarter ended 12/31/2023, with the company’s earnings per share (EPS) of 0 below consensus estimates by -0.04. The company’s next earnings report forecasts estimating quarterly EPS at 0.04 and 0.39 for whole year. Expected sales for next quarter are $373.65M, which analysts say will come at $1.93B for the current fiscal year and next year at $2.04B. In addition, estimates put the company’s current quarterly revenue at an average of $445M.

To reach the target analysts have set, the stock logically needs to grow 6.2 percent from here.

The company has a return on investment of 1.93% and return on equity of 3.62%. The price to earnings ratio (P/E ratio) amounts to 47.72 while the forward price to earnings ratio is 11.11. The beta has a value of 1.82. Price to book ratio is 1.47 and price to sales ratio is 1.83.