Hudbay Minerals Inc. (NYSE:HBM) Expected to Earn Q2 2024 Earnings of $0.01 Per Share

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Investment analysts at Raymond James reduced their Q2 2024 earnings per share (EPS) estimates for Hudbay Minerals in a research note issued on Wednesday, April 17th. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.01 per share for the quarter, down from their prior forecast of $0.09. 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 $0.42 per share. Raymond James also issued estimates for Hudbay Minerals’ Q4 2024 earnings at $0.16 EPS and FY2025 earnings at $0.83 EPS.

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

Other research analysts have also recently issued reports about the company. Stifel Nicolaus initiated coverage on Hudbay Minerals in a research note on Tuesday, March 26th. They issued a “buy” rating for the company. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. Finally, Bank of America raised Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Tuesday, April 9th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $9.75.

Hudbay Minerals Stock Down 1.5 %

NYSE:HBM opened at $7.67 on Monday. Hudbay Minerals has a 1 year low of $3.94 and a 1 year high of $8.11. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 38.35, a PEG ratio of 0.79 and a beta of 1.95. The stock has a 50-day moving average price of $6.63 and a two-hundred day moving average price of $5.54.

Hudbay Minerals Cuts Dividend

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

Hedge Funds Weigh In On Hudbay Minerals

A number of hedge funds have recently added to or reduced their stakes in the stock. Galibier Capital Management Ltd. bought a new position in Hudbay Minerals during the 1st quarter worth $12,604,000. Register Financial Advisors LLC bought a new position in shares of Hudbay Minerals in the 1st quarter valued at $35,000. Counterpoint Mutual Funds LLC bought a new position in shares of Hudbay Minerals in the 1st quarter valued at $130,000. Ballentine Partners LLC bought a new position in shares of Hudbay Minerals in the 1st quarter valued at $85,000. Finally, Banque Cantonale Vaudoise increased its stake in shares of Hudbay Minerals by 38.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after purchasing an additional 1,806 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

About Hudbay Minerals

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.