HudBay Minerals FY2027 EPS Forecast Reduced by Scotiabank

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) – Investment analysts at Scotiabank dropped their FY2027 EPS estimates for HudBay Minerals in a report released on Tuesday, July 7th. Scotiabank analyst O. Wowkodaw now expects that the mining company will earn $1.86 per share for the year, down from their prior estimate of $1.87. Scotiabank currently has a “Outperform” rating on the stock. The consensus estimate for HudBay Minerals’ current full-year earnings is $1.63 per share.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. The company had revenue of $757.30 million during the quarter, compared to analysts’ expectations of $684.73 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. HudBay Minerals’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period last year, the company posted $0.24 earnings per share.

A number of other brokerages have also weighed in on HBM. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Barclays initiated coverage on HudBay Minerals in a research report on Thursday, May 21st. They issued an “overweight” rating and a $30.00 target price on the stock. Wall Street Zen raised HudBay Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Jefferies Financial Group restated a “buy” rating on shares of HudBay Minerals in a report on Monday. Finally, Weiss Ratings upgraded HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.33.

HudBay Minerals Stock Down 4.3%

Shares of HBM stock opened at $20.61 on Thursday. The stock has a market cap of $9.16 billion, a P/E ratio of 12.42, a PEG ratio of 0.25 and a beta of 1.48. HudBay Minerals has a 52 week low of $8.93 and a 52 week high of $32.15. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $25.54 and its two-hundred day simple moving average is $23.96.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Acasta Partners UK LLP raised its position in HudBay Minerals by 9.4% during the second quarter. Acasta Partners UK LLP now owns 112,352 shares of the mining company’s stock valued at $2,651,000 after purchasing an additional 9,652 shares during the period. Empowered Funds LLC boosted its holdings in shares of HudBay Minerals by 53.1% in the 1st quarter. Empowered Funds LLC now owns 36,598 shares of the mining company’s stock worth $765,000 after purchasing an additional 12,695 shares during the period. NewEdge Advisors LLC increased its position in shares of HudBay Minerals by 5,677.7% during the 1st quarter. NewEdge Advisors LLC now owns 27,502 shares of the mining company’s stock valued at $575,000 after purchasing an additional 27,026 shares during the last quarter. Bank of America Corp DE increased its position in shares of HudBay Minerals by 53.3% during the 1st quarter. Bank of America Corp DE now owns 1,883,698 shares of the mining company’s stock valued at $39,369,000 after purchasing an additional 655,308 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of HudBay Minerals during the 1st quarter valued at approximately $25,995,000. Institutional investors own 57.82% of the company’s stock.

HudBay Minerals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, June 9th. HudBay Minerals’s dividend payout ratio is currently 1.81%.

About HudBay Minerals

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.