Cormark Analysts Lift Earnings Estimates for HudBay Minerals Inc (HBM)
HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) – Stock analysts at Cormark lifted their Q3 2017 earnings per share estimates for shares of HudBay Minerals in a research report issued to clients and investors on Tuesday. Cormark analyst S. Ioannou now expects that the mining company will post earnings of $0.11 per share for the quarter, up from their previous estimate of ($0.03). Cormark also issued estimates for HudBay Minerals’ FY2017 earnings at $0.31 EPS, Q1 2018 earnings at $0.17 EPS and FY2019 earnings at $0.88 EPS.
HBM has been the subject of a number of other research reports. BidaskClub upgraded HudBay Minerals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. ValuEngine downgraded HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Credit Suisse Group reiterated a “neutral” rating on shares of HudBay Minerals in a research note on Tuesday, April 18th. Finally, Zacks Investment Research upgraded HudBay Minerals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. HudBay Minerals currently has a consensus rating of “Hold” and an average target price of $8.06.
Shares of HudBay Minerals (NYSE:HBM) opened at 7.45 on Thursday. The firm has a 50-day moving average price of $6.58 and a 200 day moving average price of $6.61. The company’s market cap is $1.77 billion. HudBay Minerals has a 1-year low of $3.57 and a 1-year high of $9.15.
The company also recently announced a Semi-Annual dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a dividend of $0.008 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a dividend yield of 0.22%. HudBay Minerals’s dividend payout ratio is currently 50.01%.
Institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in HudBay Minerals during the first quarter valued at approximately $118,000. Trexquant Investment LP boosted its position in HudBay Minerals by 78.7% in the second quarter. Trexquant Investment LP now owns 18,768 shares of the mining company’s stock valued at $108,000 after buying an additional 8,268 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in HudBay Minerals during the first quarter valued at approximately $127,000. Brave Asset Management Inc. purchased a new position in HudBay Minerals during the second quarter valued at approximately $121,000. Finally, ARP Americas LLC purchased a new position in HudBay Minerals during the first quarter valued at approximately $140,000. 62.84% of the stock is currently owned by hedge funds and other institutional investors.
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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