Hudbay Minerals Inc. (NYSE: HBM) stock jumped 4.63% on Monday to $4.52 against a previous-day closing price of $4.32. With 1.45 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.24 million shares. During the session, the Copper company that operates in wider Basic Materials sector, reached to the highest price of $4.5400 whereas the lowest price it dropped to was $4.3000. The 52-week range on HBM shows that it touched its highest point at $6.34 and its lowest point at $3.94 during that stretch. It currently has a 1-year price target of $6.92. With its current market cap of 1.58 billion, HBM has annualized dividend of $0.02 while the current yield stands at 0.35%. Beta for the stock currently stands at 1.91.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HBM was up-trending over the past week, with a rise of 9.98%, but this was up by 3.67% over a month. Three-month performance dropped to -5.44% while six-month performance fell -4.64%. The stock lost -15.20% in the past year, while it has lost -10.85% so far this year. A look at the trailing 12-month EPS for HBM yields 0.03 with Next year EPS estimates of 0.65. For the next quarter, that number is 0.23. This implies an EPS growth rate of 81.13% for this year and 258.87% for next year.
Float and Shares Shorts:
At present, 348.91 million HBM shares are outstanding with a float of 348.26 million shares on hand for trading. On Oct 30, 2023, short shares totaled 11.51 million, which was 3.30% higher than short shares on Sep 28, 2023. In addition to Mr. Peter Gerald Jan Kukielski Bsc, Msc as the firm’s President, CEO & Director, Mr. Chi-Yen Lei serves as its Chief Financial Officer.
Through their ownership of 50.83% of HBM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 33.28% of HBM, in contrast to 28.53% held by mutual funds. As the largest shareholder in HBM with 11.02% of the stake, GMT Capital Corp. holds 38,436,820 shares worth 38,436,820. A second-largest stockholder of HBM, Letko, Brosseau & Associates Inc., holds 16,455,692 shares, controlling over 4.72% of the firm’s shares. L1 Capital Pty Ltd. is the third largest shareholder in HBM, holding 16,299,356 shares or 4.67% stake. With a 2.52% stake in HBM, the Global X Copper Miners ETF is the largest stakeholder. A total of 8,807,512 shares are owned by the mutual fund manager. The Invesco Small Cap Value Fund, which owns about 1.95% of HBM stock, is the second-largest Mutual Fund holder. It holds 6,788,700 shares valued at 29.6 million. EdgePoint Canadian Portfolio holds 1.82% of the stake in HBM, owning 6,349,455 shares worth 27.68 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HBM since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HBM analysts setting a high price target of $8.36 and a low target of $4.73, the average target price over the next 12 months is $6.91. Based on these targets, HBM could surge 84.96% to reach the target high and rise by 4.65% to reach the target low. Reaching the average price target will result in a growth of 52.88% from current levels.