Analysts Offer Predictions for HudBay Minerals Inc.’s Q3 2016 Earnings (HBM)
HudBay Minerals Inc. (NYSE:HBM) – Research analysts at Raymond James Financial cut their Q3 2016 earnings per share (EPS) estimates for shares of HudBay Minerals in a research note issued on Thursday. Raymond James Financial analyst A. Terentiew now forecasts that the firm will earn $0.04 per share for the quarter, down from their prior forecast of $0.07. Raymond James Financial also issued estimates for HudBay Minerals’ Q4 2016 earnings at $0.03 EPS, Q1 2017 earnings at $0.08 EPS, Q2 2017 earnings at $0.08 EPS and FY2017 earnings at $0.38 EPS.
HudBay Minerals (NYSE:HBM) last released its quarterly earnings results on Wednesday, July 27th. The mining company reported ($0.02) EPS for the quarter, missing the 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%. The firm’s revenue for the quarter was up 63.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.24) earnings per share.
Several other analysts also recently weighed in on the stock. BMO Capital Markets upgraded shares of HudBay Minerals from a “market perform” rating to an “outperform” rating and set a $7.00 price objective on the stock in a research report on Thursday, September 29th. Zacks Investment Research downgraded shares of HudBay Minerals from a “buy” rating to a “sell” rating in a research report on Monday. Credit Suisse Group AG downgraded shares of HudBay Minerals from an “outperform” rating to a “neutral” rating in a research report on Thursday, July 28th. 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. Finally, 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.04.
HudBay Minerals (NYSE:HBM) opened at 4.15 on Monday. HudBay Minerals has a 52 week low of $1.56 and a 52 week high of $5.57. The company’s 50 day moving average is $3.88 and its 200 day moving average is $4.31. The stock’s market cap is $980.36 million.
The business also recently declared a semiannual dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were given a dividend of $0.0076 per share. This is an increase from HudBay Minerals’s previous semiannual dividend of $0.01. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a yield of 0.3%. HudBay Minerals’s dividend payout ratio is -1.63%.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. A.R.T. Advisors LLC increased its position 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 valued at $227,000 after buying an additional 35,300 shares during the period. Acadian Asset Management LLC bought a new position in shares of HudBay Minerals during the second quarter valued at about $382,000. Flow Traders U.S. LLC bought a new position in shares of HudBay Minerals during the second quarter valued at about $389,000. PineBridge Investments L.P. increased its position 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 valued at $406,000 after buying an additional 9,160 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in shares of HudBay Minerals by 37.5% in the second quarter. Cubist Systematic Strategies LLC now owns 111,200 shares of the mining company’s stock valued at $529,000 after buying an additional 30,314 shares during the period. Institutional investors and hedge funds own 66.87% of the company’s stock.
HudBay Minerals Company Profile
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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