Intrinsic value of Hudbay Minerals - HBM

Previous Close

$5.15

  Intrinsic Value

$11.61

stock screener

  Rating & Target

str. buy

+125%

Previous close

$5.15

 
Intrinsic value

$11.61

 
Up/down potential

+125%

 
Rating

str. buy

We calculate the intrinsic value of HBM stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
(a)
   1
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -100.00
  20.70
  19.13
  17.72
  16.45
  15.30
  14.27
  13.34
  12.51
  11.76
  11.08
  10.47
  9.93
  9.43
  8.99
  8.59
  8.23
  7.91
  7.62
  7.36
  7.12
  6.91
  6.72
  6.55
  6.39
  6.25
  6.13
  6.01
  5.91
  5.82
  5.74
Revenue, $m
  0
  1,645
  1,960
  2,307
  2,686
  3,098
  3,540
  4,012
  4,514
  5,044
  5,604
  6,190
  6,805
  7,447
  8,117
  8,814
  9,539
  10,294
  11,078
  11,893
  12,740
  13,620
  14,535
  15,487
  16,477
  17,507
  18,579
  19,697
  20,861
  22,076
  23,343
Variable operating expenses, $m
 
  607
  723
  851
  991
  1,142
  1,305
  1,479
  1,664
  1,860
  2,066
  2,282
  2,508
  2,745
  2,991
  3,248
  3,516
  3,794
  4,083
  4,383
  4,695
  5,020
  5,357
  5,708
  6,073
  6,452
  6,848
  7,259
  7,689
  8,136
  8,603
Fixed operating expenses, $m
 
  566
  579
  591
  604
  618
  631
  645
  659
  674
  689
  704
  719
  735
  751
  768
  785
  802
  820
  838
  856
  875
  894
  914
  934
  955
  976
  997
  1,019
  1,041
  1,064
Total operating expenses, $m
  0
  1,173
  1,302
  1,442
  1,595
  1,760
  1,936
  2,124
  2,323
  2,534
  2,755
  2,986
  3,227
  3,480
  3,742
  4,016
  4,301
  4,596
  4,903
  5,221
  5,551
  5,895
  6,251
  6,622
  7,007
  7,407
  7,824
  8,256
  8,708
  9,177
  9,667
Operating income, $m
  0
  472
  658
  865
  1,091
  1,338
  1,603
  1,888
  2,190
  2,511
  2,849
  3,205
  3,578
  3,967
  4,374
  4,798
  5,239
  5,698
  6,176
  6,672
  7,188
  7,725
  8,284
  8,865
  9,470
  10,100
  10,756
  11,440
  12,154
  12,898
  13,675
EBITDA, $m
  0
  941
  1,217
  1,522
  1,857
  2,220
  2,611
  3,030
  3,476
  3,948
  4,445
  4,968
  5,515
  6,087
  6,685
  7,307
  7,955
  8,629
  9,330
  10,058
  10,816
  11,603
  12,422
  13,274
  14,161
  15,084
  16,046
  17,048
  18,093
  19,183
  20,321
Interest expense (income), $m
  0
  95
  140
  190
  245
  304
  369
  439
  514
  593
  677
  765
  858
  955
  1,056
  1,162
  1,272
  1,387
  1,506
  1,630
  1,758
  1,892
  2,031
  2,175
  2,326
  2,482
  2,645
  2,814
  2,991
  3,174
  3,366
Earnings before tax, $m
  0
  377
  518
  675
  847
  1,033
  1,234
  1,448
  1,676
  1,918
  2,172
  2,440
  2,720
  3,012
  3,318
  3,636
  3,967
  4,311
  4,670
  5,043
  5,430
  5,833
  6,253
  6,690
  7,144
  7,618
  8,112
  8,626
  9,163
  9,724
  10,309
Tax expense, $m
  0
  102
  140
  182
  229
  279
  333
  391
  453
  518
  587
  659
  734
  813
  896
  982
  1,071
  1,164
  1,261
  1,361
  1,466
  1,575
  1,688
  1,806
  1,929
  2,057
  2,190
  2,329
  2,474
  2,625
  2,783
Net income, $m
  0
  275
  378
  493
  618
  754
  901
  1,057
  1,224
  1,400
  1,586
  1,781
  1,986
  2,199
  2,422
  2,654
  2,896
  3,147
  3,409
  3,681
  3,964
  4,258
  4,565
  4,883
  5,215
  5,561
  5,921
  6,297
  6,689
  7,098
  7,526

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  0
  5,615
  6,689
  7,874
  9,169
  10,572
  12,080
  13,692
  15,405
  17,217
  19,125
  21,128
  23,225
  25,416
  27,701
  30,081
  32,558
  35,133
  37,810
  40,591
  43,481
  46,485
  49,608
  52,856
  56,234
  59,750
  63,411
  67,225
  71,200
  75,345
  79,669
Adjusted assets (=assets-cash), $m
  0
  5,615
  6,689
  7,874
  9,169
  10,572
  12,080
  13,692
  15,405
  17,217
  19,125
  21,128
  23,225
  25,416
  27,701
  30,081
  32,558
  35,133
  37,810
  40,591
  43,481
  46,485
  49,608
  52,856
  56,234
  59,750
  63,411
  67,225
  71,200
  75,345
  79,669
Revenue / Adjusted assets
  0.000
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
  0.293
Average production assets, $m
  0
  4,684
  5,580
  6,568
  7,648
  8,819
  10,077
  11,422
  12,851
  14,362
  15,953
  17,624
  19,374
  21,202
  23,108
  25,093
  27,159
  29,307
  31,540
  33,860
  36,271
  38,777
  41,382
  44,091
  46,909
  49,842
  52,896
  56,077
  59,393
  62,850
  66,458
Working capital, $m
  0
  -63
  -74
  -88
  -102
  -118
  -135
  -152
  -172
  -192
  -213
  -235
  -259
  -283
  -308
  -335
  -363
  -391
  -421
  -452
  -484
  -518
  -552
  -588
  -626
  -665
  -706
  -748
  -793
  -839
  -887
Total debt, $m
  0
  1,628
  2,206
  2,843
  3,540
  4,295
  5,106
  5,974
  6,895
  7,870
  8,896
  9,974
  11,102
  12,281
  13,510
  14,791
  16,123
  17,509
  18,949
  20,445
  22,000
  23,616
  25,296
  27,043
  28,861
  30,752
  32,722
  34,774
  36,912
  39,142
  41,469
Total liabilities, $m
  0
  3,021
  3,599
  4,236
  4,933
  5,688
  6,499
  7,367
  8,288
  9,263
  10,289
  11,367
  12,495
  13,674
  14,903
  16,184
  17,516
  18,902
  20,342
  21,838
  23,393
  25,009
  26,689
  28,436
  30,254
  32,145
  34,115
  36,167
  38,305
  40,535
  42,862
Total equity, $m
  0
  2,594
  3,090
  3,638
  4,236
  4,884
  5,581
  6,326
  7,117
  7,954
  8,836
  9,761
  10,730
  11,742
  12,798
  13,898
  15,042
  16,231
  17,468
  18,753
  20,088
  21,476
  22,919
  24,419
  25,980
  27,604
  29,296
  31,058
  32,894
  34,809
  36,807
Total liabilities and equity, $m
  0
  5,615
  6,689
  7,874
  9,169
  10,572
  12,080
  13,693
  15,405
  17,217
  19,125
  21,128
  23,225
  25,416
  27,701
  30,082
  32,558
  35,133
  37,810
  40,591
  43,481
  46,485
  49,608
  52,855
  56,234
  59,749
  63,411
  67,225
  71,199
  75,344
  79,669
Debt-to-equity ratio
  0.000
  0.630
  0.710
  0.780
  0.840
  0.880
  0.910
  0.940
  0.970
  0.990
  1.010
  1.020
  1.030
  1.050
  1.060
  1.060
  1.070
  1.080
  1.080
  1.090
  1.100
  1.100
  1.100
  1.110
  1.110
  1.110
  1.120
  1.120
  1.120
  1.120
  1.130
Adjusted equity ratio
  0.000
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462
  0.462

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  0
  275
  378
  493
  618
  754
  901
  1,057
  1,224
  1,400
  1,586
  1,781
  1,986
  2,199
  2,422
  2,654
  2,896
  3,147
  3,409
  3,681
  3,964
  4,258
  4,565
  4,883
  5,215
  5,561
  5,921
  6,297
  6,689
  7,098
  7,526
Depreciation, amort., depletion, $m
  0
  469
  559
  657
  765
  882
  1,008
  1,143
  1,286
  1,437
  1,596
  1,762
  1,937
  2,120
  2,311
  2,509
  2,716
  2,931
  3,154
  3,386
  3,627
  3,878
  4,138
  4,409
  4,691
  4,984
  5,290
  5,608
  5,939
  6,285
  6,646
Funds from operations, $m
  0
  744
  937
  1,150
  1,384
  1,637
  1,909
  2,200
  2,510
  2,837
  3,182
  3,544
  3,923
  4,319
  4,733
  5,163
  5,612
  6,078
  6,563
  7,067
  7,591
  8,136
  8,703
  9,292
  9,906
  10,545
  11,211
  11,905
  12,628
  13,383
  14,172
Change in working capital, $m
  0
  -11
  -12
  -13
  -14
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -28
  -29
  -30
  -31
  -32
  -33
  -35
  -36
  -38
  -39
  -41
  -42
  -44
  -46
  -48
Cash from operations, $m
  0
  755
  949
  1,163
  1,398
  1,652
  1,926
  2,218
  2,529
  2,857
  3,203
  3,566
  3,946
  4,344
  4,758
  5,190
  5,639
  6,107
  6,593
  7,098
  7,623
  8,170
  8,738
  9,329
  9,944
  10,584
  11,252
  11,947
  12,673
  13,430
  14,220
Maintenance CAPEX, $m
  0
  -388
  -468
  -558
  -657
  -765
  -882
  -1,008
  -1,142
  -1,285
  -1,436
  -1,595
  -1,762
  -1,937
  -2,120
  -2,311
  -2,509
  -2,716
  -2,931
  -3,154
  -3,386
  -3,627
  -3,878
  -4,138
  -4,409
  -4,691
  -4,984
  -5,290
  -5,608
  -5,939
  -6,285
New CAPEX, $m
  0
  -804
  -896
  -989
  -1,080
  -1,170
  -1,258
  -1,345
  -1,429
  -1,511
  -1,592
  -1,671
  -1,750
  -1,828
  -1,906
  -1,985
  -2,066
  -2,148
  -2,233
  -2,320
  -2,411
  -2,506
  -2,605
  -2,709
  -2,818
  -2,933
  -3,054
  -3,181
  -3,316
  -3,458
  -3,607
Cash from investing activities, $m
  0
  -1,192
  -1,364
  -1,547
  -1,737
  -1,935
  -2,140
  -2,353
  -2,571
  -2,796
  -3,028
  -3,266
  -3,512
  -3,765
  -4,026
  -4,296
  -4,575
  -4,864
  -5,164
  -5,474
  -5,797
  -6,133
  -6,483
  -6,847
  -7,227
  -7,624
  -8,038
  -8,471
  -8,924
  -9,397
  -9,892
Free cash flow, $m
  0
  -438
  -415
  -383
  -339
  -283
  -215
  -134
  -42
  61
  175
  300
  434
  578
  732
  894
  1,064
  1,243
  1,429
  1,624
  1,826
  2,037
  2,255
  2,482
  2,717
  2,961
  3,214
  3,476
  3,749
  4,033
  4,327
Issuance/(repayment) of debt, $m
  0
  519
  578
  638
  697
  755
  812
  867
  922
  975
  1,027
  1,078
  1,128
  1,179
  1,229
  1,280
  1,332
  1,385
  1,440
  1,496
  1,555
  1,616
  1,680
  1,747
  1,818
  1,892
  1,970
  2,052
  2,139
  2,230
  2,327
Issuance/(repurchase) of shares, $m
  0
  175
  118
  55
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  0
  694
  696
  693
  697
  755
  812
  867
  922
  975
  1,027
  1,078
  1,128
  1,179
  1,229
  1,280
  1,332
  1,385
  1,440
  1,496
  1,555
  1,616
  1,680
  1,747
  1,818
  1,892
  1,970
  2,052
  2,139
  2,230
  2,327
Total cash flow (excl. dividends), $m
  0
  256
  280
  309
  358
  472
  597
  733
  879
  1,035
  1,202
  1,377
  1,563
  1,757
  1,961
  2,174
  2,397
  2,628
  2,869
  3,120
  3,381
  3,653
  3,935
  4,229
  4,534
  4,852
  5,183
  5,528
  5,888
  6,263
  6,654
Retained Cash Flow (-), $m
  0
  -450
  -496
  -548
  -598
  -648
  -697
  -745
  -791
  -837
  -882
  -925
  -969
  -1,012
  -1,056
  -1,100
  -1,144
  -1,190
  -1,237
  -1,285
  -1,335
  -1,388
  -1,443
  -1,500
  -1,561
  -1,624
  -1,691
  -1,762
  -1,836
  -1,915
  -1,998
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  16
  20
  24
  28
  32
  37
  42
  48
  54
  61
  67
  74
  82
  89
  97
  106
  114
  124
  133
  143
  153
  163
  174
  186
  198
  210
  223
  236
  250
  265
Cash available for distribution, $m
 
  -194
  -216
  -238
  -241
  -176
  -100
  -12
  88
  199
  320
  452
  594
  745
  905
  1,075
  1,252
  1,438
  1,633
  1,835
  2,046
  2,265
  2,492
  2,728
  2,973
  3,228
  3,492
  3,766
  4,051
  4,348
  4,656
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  -186
  -198
  -207
  -198
  -137
  -72
  -8
  55
  114
  168
  215
  253
  283
  304
  315
  318
  313
  301
  283
  260
  234
  207
  179
  151
  126
  102
  81
  63
  47
  35
Current shareholders' claim on cash, %
  100
  89.6
  84.1
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0

Hudbay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America. Through its subsidiaries, the Company owns approximately four polymetallic mines, four ore concentrators and a zinc production facility in northern Manitoba and Saskatchewan (Canada) and Cusco (Peru), as well as a copper project in Arizona (the United States). The Company owns Constancia mine, an open pit copper mine in Peru. It owns 777 mine, an underground copper, zinc, gold and silver mine in Flin Flon, Manitoba. It owns Lalor mine, an underground zinc, copper and gold mine near Snow Lake, Manitoba. It also owns Rosemont project, a copper development project in Pima County, Arizona, in the United States.

FINANCIAL RATIOS  of  Hudbay Minerals (HBM)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

HBM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the HBM stock intrinsic value calculation we used $1363 million for the last fiscal year's total revenue generated by Hudbay Minerals. The default revenue input number comes from income statement of Hudbay Minerals. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our HBM stock valuation model: a) initial revenue growth rate of 20.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for HBM is calculated based on our internal credit rating of Hudbay Minerals, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Hudbay Minerals.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of HBM stock the variable cost ratio is equal to 36.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $554 million in the base year in the intrinsic value calculation for HBM stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 8.6% for Hudbay Minerals.

Corporate tax rate of 27% is the nominal tax rate for Hudbay Minerals. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the HBM stock is equal to 1.2%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for HBM are equal to 284.7%.

Life of production assets of 10 years is the average useful life of capital assets used in Hudbay Minerals operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for HBM is equal to -3.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2144 million for Hudbay Minerals - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 244 million for Hudbay Minerals is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Hudbay Minerals at the current share price and the inputted number of shares is $1.3 billion.

RELATED COMPANIES Price Int.Val. Rating
ABX Barrick Gold 12.82 14.25  hold

COMPANY NEWS

▶ Why Hudbay Minerals Inc (TSE:HBM) Could Be A Buy   [May-21-18 06:50PM  Simply Wall St.]
▶ Hudbay Announces Election of Directors   [May-03-18 05:25PM  GlobeNewswire]
▶ HudBay Minerals: 1Q Earnings Snapshot   [05:04AM  Associated Press]
▶ The 4 Most Intriguing Value Stocks On The NYSE   [Apr-21-18 05:12PM  Forbes]
▶ High Growth Stocks To Profit From   [Mar-07-18 11:02AM  Simply Wall St.]
▶ Hudbay Minerals Inc to Host Earnings Call   [Feb-22-18 08:40AM  ACCESSWIRE]
▶ HudBay Minerals misses 4Q profit forecasts   [05:03AM  Associated Press]
▶ Hudbay Announces Fourth Quarter and Full Year 2017 Results   [Feb-21-18 05:06PM  GlobeNewswire]
▶ Hudbay Files Early Warning Report for Fireweed Zinc Ltd.   [Feb-07-18 05:04PM  GlobeNewswire]
▶ Are Hudbay Minerals Incs (TSE:HBM) Interest Costs Too High?   [Feb-02-18 10:51AM  Simply Wall St.]
▶ Growth Stocks Investors Love   [Jan-24-18 11:02AM  Simply Wall St.]
▶ High Growth Stocks To Invest In   [Dec-07-17 11:02AM  Simply Wall St.]
▶ When Should You Buy Hudbay Minerals Inc (TSX:HBM)?   [Nov-16-17 02:37PM  Simply Wall St.]
▶ HudBay Minerals posts 3Q profit   [05:48AM  Associated Press]
▶ Hudbay Announces Third Quarter 2017 Results   [Nov-01-17 04:55PM  GlobeNewswire]
▶ Why Rite Aid, Hudbay Minerals, and NovoCure Jumped Today   [Oct-16-17 04:30PM  Motley Fool]
▶ Hudbay Completes C$242 Million Equity Financing   [Sep-27-17 08:40AM  Marketwired]
▶ Should You Buy Hudbay Minerals Inc (TSX:HBM) Now?   [Sep-18-17 12:43PM  Simply Wall St.]
▶ Copper Producers to Benefit From Hurricanes   [Sep-13-17 01:10PM  GuruFocus.com]
▶ Hudbay Announces C$242 Million Bought Deal Financing   [Sep-07-17 08:19PM  Marketwired]
▶ Hudbay Acquires Shares of Mason Resources   [Aug-23-17 05:43PM  Marketwired]
▶ HudBay Minerals misses 2Q profit forecasts   [Aug-05-17 01:10AM  Associated Press]
▶ Hudbay Announces Second Quarter 2017 Results   [Aug-03-17 05:00PM  Marketwired]
▶ 5 Best Stocks of the July ETF Winner   [Jul-28-17 11:10AM  Zacks]
▶ New Strong Sell Stocks for July 7th   [Jul-07-17 10:12AM  Zacks]
Financial statements of HBM
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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