Q1 2024 EPS Estimates for Hudbay Minerals Inc. (NYSE:HBM) Lowered by Analyst

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Investment analysts at Raymond James lowered their Q1 2024 EPS 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 $0.07 per share for the quarter, down from their previous forecast of $0.08. 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 $0.44 per share. Raymond James also issued estimates for Hudbay Minerals’ Q3 2024 earnings at $0.04 EPS and FY2024 earnings at $0.28 EPS.

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

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

Hudbay Minerals Stock Performance

HBM opened at $7.88 on Friday. The firm has a market cap of $2.77 billion, a P/E ratio of 39.40, a PEG ratio of 0.75 and a beta of 1.95. Hudbay Minerals has a 1-year low of $3.94 and a 1-year high of $8.11. The company has a 50 day simple moving average of $6.53 and a two-hundred day simple moving average of $5.48. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.87.

Institutional Investors Weigh In On Hudbay Minerals

A number of hedge funds have recently bought and sold shares of HBM. Tower Research Capital LLC TRC raised its stake in Hudbay Minerals by 2,894.4% during the third quarter. Tower Research Capital LLC TRC now owns 5,330 shares of the mining company’s stock valued at $26,000 after purchasing an additional 5,152 shares in the last quarter. U S Global Investors Inc. purchased a new stake in Hudbay Minerals during the third quarter valued at $29,000. Register Financial Advisors LLC purchased a new stake in Hudbay Minerals during the first quarter valued at $35,000. Osaic Holdings Inc. raised its stake in Hudbay Minerals by 290.9% during the second quarter. Osaic Holdings Inc. now owns 8,185 shares of the mining company’s stock valued at $39,000 after purchasing an additional 6,091 shares in the last quarter. Finally, Banque Cantonale Vaudoise raised its stake in shares of Hudbay Minerals by 38.7% in the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after acquiring an additional 1,806 shares during the period. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Cuts Dividend

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

Hudbay Minerals Company Profile

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.