FY2024 EPS Estimate for Hudbay Minerals Decreased by Analyst

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Raymond James decreased their FY2024 earnings per share (EPS) estimates for shares of Hudbay Minerals in a report released on Wednesday, October 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.51 for the year, down from their previous forecast of $0.64. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.49 per share.

HBM has been the topic of a number of other research reports. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, StockNews.com lowered shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Stock Performance

Shares of NYSE HBM opened at $9.63 on Friday. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 41.85 and a beta of 1.77. The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. Hudbay Minerals has a 1-year low of $3.94 and a 1-year high of $10.49. The stock’s 50-day moving average is $8.42 and its 200 day moving average is $8.55.

Hudbay Minerals Cuts Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, September 3rd were paid a $0.007 dividend. This represents a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, September 3rd. Hudbay Minerals’s payout ratio is currently 4.35%.

Institutional Trading of Hudbay Minerals

Several hedge funds have recently made changes to their positions in HBM. Donald Smith & CO. Inc. boosted its stake in shares of Hudbay Minerals by 31.9% during the third quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company’s stock valued at $34,451,000 after purchasing an additional 906,417 shares in the last quarter. Galibier Capital Management Ltd. raised its holdings in shares of Hudbay Minerals by 23.2% during the third quarter. Galibier Capital Management Ltd. now owns 2,521,108 shares of the mining company’s stock worth $23,215,000 after purchasing an additional 474,958 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new position in shares of Hudbay Minerals during the third quarter worth $92,000. Ausbil Investment Management Ltd grew its position in Hudbay Minerals by 21.5% during the third quarter. Ausbil Investment Management Ltd now owns 130,000 shares of the mining company’s stock valued at $1,197,000 after buying an additional 23,000 shares during the period. Finally, Signaturefd LLC grew its position in Hudbay Minerals by 8.1% during the third quarter. Signaturefd LLC now owns 46,555 shares of the mining company’s stock valued at $428,000 after buying an additional 3,474 shares during the period. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

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.