The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. It is calculated as a company's Total Current Assets excludes Total Inventories divides by its Total Current Liabilities. Hudbay Minerals's quick ratio for the quarter that ended in Dec. 2023 was 0.87.
Hudbay Minerals has a quick ratio of 0.87. It indicates that the company cannot currently fully pay back its current liabilities.
The historical rank and industry rank for Hudbay Minerals's Quick Ratio or its related term are showing as below:
HBM'
s Quick Ratio Range Over the Past 10 Years
Min: 0.82 Med: 1.01 Max: 2
Current: 0.87
During the past 13 years, Hudbay Minerals's highest Quick Ratio was 2.00. The lowest was 0.82. And the median was 1.01.
HBM's Quick Ratio is ranked worse than 67.73% of 2671
companies
in the Metals & Mining industry
Industry Median: 1.8
vs HBM: 0.87
Hudbay Minerals Quick Ratio Historical Data
The historical data trend for Hudbay Minerals's Quick Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Copper subindustry, Hudbay Minerals's Quick Ratio, along with its competitors' market caps and Quick Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Hudbay Minerals Quick Ratio Distribution
For the Metals & Mining industry and Basic Materials sector, Hudbay Minerals's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Hudbay Minerals's Quick Ratio falls into.
Hudbay Minerals Quick Ratio Calculation
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. For this reason, the ratio excludes inventories from current assets.
Hudbay Minerals's Quick Ratio for the fiscal year that ended in Dec. 2023 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Hudbay Minerals (NYSE:HBM) Quick Ratio Explanation
The quick ratio is more conservative than the Current Ratio because it excludes inventories from current assets. The ratio derives its name presumably from the fact that assets such as cash and marketable securities are quick sources of cash. Inventories generally take time to be converted into cash, and if they have to be sold quickly, the company may have to accept a lower price than book value of these inventories. As a result, they are justifiably excluded from assets that are ready sources of immediate cash.
In general, low or decreasing quick ratios generally suggest that a company is over-leveraged, struggling to maintain or grow sales, paying bills too quickly or collecting receivables too slowly. On the other hand, a high or increasing quick ratio generally indicates that a company is experiencing solid top-line growth, quickly converting receivables into cash, and easily able to cover its financial obligations. Such companies often have faster inventory turnover and cash conversion cycles.
The higher the quick ratio, the better the company's liquidity position.
Hudbay Minerals Quick Ratio Related Terms
Thank you for viewing the detailed overview of Hudbay Minerals's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Hudbay Minerals (Hudbay Minerals) Business Description
Hudbay Minerals Inc is a Canadian mining company with its operations, property developments, and exploration activities across the United States. The major mines that Hudbay operates are located in Manitoba, Canada, Arizona, United States; and Peru. The company is principally focused on the discovery, production, and marketing of base and precious metals. Hudbay produces copper concentrate, which contains copper, gold, and silver, as well as zinc metal. More than half the company's revenue is attributable to the copper business. The company sells copper concentrates to smelters across Asia, America, and Europe, and sells Zinc metal, the next biggest source of revenue, to industrial customers across North America.
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