Hudbay Minerals Inc. [HBM] is 23.73% higher this YTD. Is it still time to buy?

Hudbay Minerals Inc. [NYSE: HBM] stock went on an upward path that rose over 6.89% on Wednesday, amounting to a one-week price increase of more than 9.28%. The company report on March 13, 2024 at 6:30 AM that Hudbay and Marubeni Sign Flin Flon Option Agreement to Advance Exploration Partnership.

Figure 1: Map of Three Projects Selected for the Option Agreement.

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Over the last 12 months, HBM stock rose by 48.48%. The one-year Hudbay Minerals Inc. stock forecast points to a potential upside of 8.81. The average equity rating for HBM stock is currently 1.38, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.40 billion, with 350.73 million shares outstanding and 349.90 million shares in the current float. Compared to the average trading volume of 1.88M shares, HBM stock reached a trading volume of 5000464 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Hudbay Minerals Inc. [HBM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HBM shares is $7.49 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HBM stock is a recommendation set at 1.38. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barclays have made an estimate for Hudbay Minerals Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 07, 2023. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on May 19, 2023, representing the official price target for Hudbay Minerals Inc. stock.

The Average True Range (ATR) for Hudbay Minerals Inc. is set at 0.23, with the Price to Sales ratio for HBM stock in the period of the last 12 months amounting to 1.42. The Price to Book ratio for the last quarter was 1.14, with the Price to Cash per share for the same quarter was set at 0.72. Price to Free Cash Flow for HBM in the course of the last twelve months was 20.56 with Quick ratio for the last quarter at 0.87.

HBM Stock Performance Analysis:

Hudbay Minerals Inc. [HBM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.28. With this latest performance, HBM shares gained by 30.84% in over the last four-week period, additionally plugging by 43.19% over the last 6 months – not to mention a rise of 48.48% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HBM stock in for the last two-week period is set at 77.59, with the RSI for the last a single of trading hit 83.02, and the three-weeks RSI is set at 73.16 for Hudbay Minerals Inc. [HBM]. The present Moving Average for the last 50 days of trading for this stock 5.59, while it was recorded at 6.45 for the last single week of trading, and 5.04 for the last 200 days.

Insight into Hudbay Minerals Inc. Fundamentals:

Hudbay Minerals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.87 and a Current Ratio set at 1.25.

HBM Stock EPS

With the latest financial reports released by the company, Hudbay Minerals Inc. posted 0/share EPS, while the average EPS was predicted by analysts to be reported at 0.04/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -100.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HBM.

Hudbay Minerals Inc. [HBM] Institutonal Ownership Details

The top three institutional holders of HBM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HBM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HBM stock with ownership which is approximately 5.8325%.