Q2 2024 EPS Estimates for Hudbay Minerals Inc. (NYSE:HBM) Lowered by Analyst

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Raymond James reduced their Q2 2024 earnings per share estimates for Hudbay Minerals in a research note issued on Wednesday, April 17th. Raymond James analyst F. Hamed now expects that the mining company will post earnings of $0.01 per share for the quarter, down from their prior estimate of $0.09. Raymond James currently has a “Outperform” rating and a $10.50 target price on the stock. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.42 per share. Raymond James also issued estimates for Hudbay Minerals’ Q4 2024 earnings at $0.16 EPS and FY2025 earnings at $0.83 EPS.

A number of other research analysts also recently weighed in on the company. Bank of America upgraded Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a report on Tuesday, April 9th. StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. Finally, Stifel Nicolaus began coverage on Hudbay Minerals in a research note on Tuesday, March 26th. They issued a “buy” rating on the stock. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $9.75.

Hudbay Minerals Stock Performance

Shares of HBM stock opened at $7.73 on Monday. Hudbay Minerals has a 1-year low of $3.94 and a 1-year high of $8.11. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 38.63, a P/E/G ratio of 0.79 and a beta of 1.95. The stock’s fifty day simple moving average is $6.68 and its 200-day simple moving average is $5.57.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The business had revenue of $602.20 million for the quarter, compared to the consensus estimate of $552.74 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. Hudbay Minerals’s revenue for the quarter was up 87.5% compared to the same quarter last year.

Hudbay Minerals Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.0074 per share. This represents a dividend yield of 0.3%. The ex-dividend date was Monday, March 4th. Hudbay Minerals’s dividend payout ratio is 5.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HBM. U S Global Investors Inc. acquired a new position in shares of Hudbay Minerals during the 3rd quarter valued at about $29,000. Galibier Capital Management Ltd. increased its holdings in shares of Hudbay Minerals by 43.5% during the 3rd quarter. Galibier Capital Management Ltd. now owns 516,942 shares of the mining company’s stock valued at $2,527,000 after acquiring an additional 156,700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Hudbay Minerals by 23.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,986 shares of the mining company’s stock valued at $327,000 after acquiring an additional 12,748 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Hudbay Minerals by 6.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,290,344 shares of the mining company’s stock valued at $35,643,000 after acquiring an additional 467,872 shares during the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Hudbay Minerals by 9.0% during the 3rd quarter. TD Asset Management Inc now owns 953,290 shares of the mining company’s stock valued at $4,661,000 after acquiring an additional 78,493 shares during the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.