Hudbay Minerals Inc. (HBM) Analysis & Forecast for 2021

Hudbay Minerals Inc. (NYSE: HBM) is 1.71% higher on its value in year-to-date trading and has touched a low of $1.23 and a high of $8.39 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The HBM stock was last observed hovering at around $7.09 in the last trading session, with the day’s gains setting it 0.03% off its average median price target of $9.52 for the next 12 months. It is also 37.21% off the consensus price target high of $11.34 offered by 17 analysts, but current levels are -12.3% lower than the price target low of $6.34 for the same period.

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Currently trading at $7.12, the stock is 2.26% and 4.00% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.24 million and changing 0.42% at the moment leaves the stock 47.36% off its SMA200. HBM registered 184.80% gain for a year compared to 6-month gain of 61.82%. The firm has a 50-day simple moving average (SMA 50) of $6.77 and a 200-day simple moving average (SMA200) of $5.68.

The stock witnessed a 25.13% loss in the last 1 month and extending the period to 3 months gives it a 9.71%, and is -10.21% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.03% over the week and 5.39% over the month.

Fwd P/E is 6.53. Distance from 52-week low is 478.86% and -15.14% from its 52-week high.

Hudbay Minerals Inc. (HBM) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Hudbay Minerals Inc. (HBM) is a “Overweight”. 17 analysts offering their recommendations for the stock have an average rating of 2.00, where 4 rate it as a Hold and 1 think it is a “Overweight”. 11 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Hudbay Minerals Inc. is expected to release its quarterly report on 05/05/2021 and quarterly earnings per share for the current quarter are estimated at $0.18 with sales reaching $364.97M over the same period.The EPS is expected to grow by 26.20% this year, but quarterly earnings will post 8.50% year-over-year. Quarterly sales are estimated to grow 44.20% in year-over-year returns.

Hudbay Minerals Inc. (HBM) Top Institutional Holders

164 institutions hold shares in Hudbay Minerals Inc. (HBM), with 446.77k shares held by insiders accounting for 0.17% while institutional investors hold 73.65% of the company’s shares. The shares outstanding are 261.27M, and float is at 174.81M with Short Float at 1.74%. Institutions hold 73.53% of the Float.

The top institutional shareholder in the company is Waterton Global Resource Management, Inc. with over 43.86 million shares valued at $306.99 million. The investor’s holdings represent 16.79% of the HBM Shares outstanding. As of Dec 30, 2020, the second largest holder is GMT Capital Corp with 40.3 million shares valued at $282.1 million to account for 15.42% of the shares outstanding. The other top investors are Letko, Brosseau & Associates Inc. which holds 24.43 million shares representing 9.35% and valued at over $170.99 million, while Connor Clark & Lunn Investment Management Ltd holds 3.46% of the shares totaling 9.05 million with a market value of $63.34 million.

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Hudbay Minerals Inc. (HBM): Who are the competitors?

The company’s main competitors (and peers) include Western Copper and Gold Corporation (WRN) that is trading 174.89% up over the past 12 months. Southern Copper Corporation (SCCO) is 116.61% up on the 1-year trading charts. Short interest in the company’s stock has risen 2.97% from the last report on Jan 14, 2021 to stand at a total of 2.94 million short shares sold with a short interest ratio of 3.01.

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