HudBay Minerals Inc. (NYSE:HBM) – Raymond James Financial reduced their Q3 2017 earnings per share estimates for HudBay Minerals in a note issued to investors on Thursday. Raymond James Financial analyst A. Terentiew now expects that the brokerage will earn $0.10 per share for the quarter, down from their previous estimate of $0.12. Raymond James Financial also issued estimates for HudBay Minerals’ Q4 2017 earnings at $0.12 EPS.
HudBay Minerals (NYSE:HBM) last issued its earnings results on Wednesday, July 27th. The mining company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.07. The business earned $247 million during the quarter, compared to analyst estimates of $249.18 million. HudBay Minerals had a negative net margin of 26.09% and a positive return on equity of 0.50%. HudBay Minerals’s quarterly revenue was up 63.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.24) earnings per share.
Other equities analysts also recently issued research reports about the company. Barclays PLC reiterated an “underweight” rating on shares of HudBay Minerals in a research report on Wednesday, August 3rd. BMO Capital Markets downgraded HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 price objective for the company. in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. TD Securities reiterated a “hold” rating and issued a $7.50 price objective on shares of HudBay Minerals in a research report on Thursday, August 4th. RBC Capital Markets reiterated an “outperform” rating and issued a $8.00 price objective (up previously from $7.50) on shares of HudBay Minerals in a research report on Wednesday, August 3rd. Finally, Scotiabank reiterated an “outperform” rating and issued a $8.00 price objective on shares of HudBay Minerals in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $7.04.
Shares of HudBay Minerals (NYSE:HBM) opened at 3.8099 on Friday. HudBay Minerals has a 52-week low of $1.56 and a 52-week high of $5.57. The firm’s market capitalization is $900.02 million. The company’s 50-day moving average is $3.90 and its 200 day moving average is $4.30.
Large investors have recently made changes to their positions in the company. BlackRock Fund Advisors boosted its stake in shares of HudBay Minerals by 1.1% in the first quarter. BlackRock Fund Advisors now owns 49,772 shares of the mining company’s stock worth $183,000 after buying an additional 535 shares during the period. A.R.T. Advisors LLC boosted its stake in shares of HudBay Minerals by 285.8% in the second quarter. A.R.T. Advisors LLC now owns 47,653 shares of the mining company’s stock worth $227,000 after buying an additional 35,300 shares during the period. Acadian Asset Management LLC bought a new stake in shares of HudBay Minerals during the second quarter worth approximately $382,000. Flow Traders U.S. LLC bought a new stake in shares of HudBay Minerals during the second quarter worth approximately $389,000. Finally, PineBridge Investments L.P. boosted its stake in shares of HudBay Minerals by 16.2% in the second quarter. PineBridge Investments L.P. now owns 65,773 shares of the mining company’s stock worth $406,000 after buying an additional 9,160 shares during the period. 66.87% of the stock is owned by institutional investors and hedge funds.
The business also recently disclosed a semiannual dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were paid a dividend of $0.0076 per share. The ex-dividend date was Wednesday, September 7th. This is a boost from HudBay Minerals’s previous semiannual dividend of $0.01. This represents a dividend yield of 0.3%. HudBay Minerals’s payout ratio is -1.63%.
About HudBay Minerals
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.
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