Raymond James Financial Equities Analysts Cut Earnings Estimates for HudBay Minerals Inc. (HBM)
HudBay Minerals Inc. (NYSE:HBM) – Investment analysts at Raymond James Financial reduced their Q3 2017 earnings per share (EPS) estimates for HudBay Minerals in a report released on Thursday. Raymond James Financial analyst A. Terentiew now anticipates that the firm will earn $0.10 per share for the quarter, down from their previous forecast of $0.12. Raymond James Financial also issued estimates for HudBay Minerals’ Q4 2017 earnings at $0.12 EPS.
HudBay Minerals (NYSE:HBM) last posted its quarterly 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. HudBay Minerals had a negative net margin of 26.09% and a positive return on equity of 0.50%. The firm had revenue of $247 million for the quarter, compared to analysts’ expectations of $249.18 million. During the same quarter in the previous year, the company earned ($0.24) EPS. The company’s quarterly revenue was up 63.7% compared to the same quarter last year.
A number of other equities research analysts have also weighed in on HBM. Credit Suisse Group AG lowered shares of HudBay Minerals from an “outperform” rating to a “neutral” rating in a report on Thursday, July 28th. Scotiabank reiterated an “outperform” rating and set a $8.00 price objective on shares of HudBay Minerals in a report on Thursday, July 28th. Zacks Investment Research lowered shares of HudBay Minerals from a “hold” rating to a “strong sell” rating in a report on Thursday, July 28th. BMO Capital Markets lowered shares of HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 price objective for the company. in a report on Tuesday, August 2nd. They noted that the move was a valuation call. Finally, Barclays PLC reiterated an “underweight” rating on shares of HudBay Minerals in a report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $7.04.
HudBay Minerals (NYSE:HBM) traded down 0.26% during midday trading on Friday, hitting $3.80. 104,226 shares of the stock were exchanged. The company’s market cap is $897.68 million. HudBay Minerals has a 12 month low of $1.56 and a 12 month high of $5.57. The firm’s 50 day moving average price is $3.92 and its 200 day moving average price is $4.30.
A number of hedge funds have recently added to or reduced their stakes in the company. Greystone Managed Investments Inc. bought a new stake in HudBay Minerals during the second quarter valued at $5,986,000. Capital Research Global Investors increased its stake in HudBay Minerals by 11.2% in the second quarter. Capital Research Global Investors now owns 11,100,000 shares of the mining company’s stock valued at $53,011,000 after buying an additional 1,115,000 shares in the last quarter. Vanguard Group Inc. increased its stake in HudBay Minerals by 19.9% in the second quarter. Vanguard Group Inc. now owns 4,322,023 shares of the mining company’s stock valued at $20,659,000 after buying an additional 718,315 shares in the last quarter. Citadel Advisors LLC bought a new stake in HudBay Minerals during the second quarter valued at $2,435,000. Finally, AQR Capital Management LLC increased its stake in HudBay Minerals by 654.5% in the second quarter. AQR Capital Management LLC now owns 333,424 shares of the mining company’s stock valued at $1,584,000 after buying an additional 289,235 shares in the last quarter. 66.87% of the stock is currently owned by institutional investors.
The business also recently announced a semiannual dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 9th were given a dividend of $0.0076 per share. This represents a yield of 0.3%. The ex-dividend date was Wednesday, September 7th. This is an increase from HudBay Minerals’s previous semiannual dividend of $0.01. HudBay Minerals’s payout ratio is currently -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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