Hudbay Minerals Inc. (NYSE:HBM) Expected to Post Q2 2024 Earnings of $0.08 Per Share

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Equities research analysts at Raymond James increased their Q2 2024 earnings estimates for Hudbay Minerals in a report issued on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the mining company will earn $0.08 per share for the quarter, up from their prior estimate of $0.01. Raymond James has a “Outperform” rating and a $10.50 price objective 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’ Q3 2024 earnings at $0.10 EPS and FY2024 earnings at $0.49 EPS.

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

Hudbay Minerals Stock Up 5.0 %

Shares of HBM stock opened at $8.13 on Thursday. The company has a 50 day simple moving average of $6.79 and a two-hundred day simple moving average of $5.60. 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 $2.85 billion, a P/E ratio of 40.63, a P/E/G ratio of 0.79 and a beta of 1.95. Hudbay Minerals has a 12 month low of $3.94 and a 12 month high of $8.18.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. 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 prior year, the company earned $0.01 earnings per share. The firm’s revenue was up 87.5% on a year-over-year basis.

Hudbay Minerals Cuts Dividend

The business also recently announced 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. The ex-dividend date was Monday, March 4th. This represents a yield of 0.3%. Hudbay Minerals’s payout ratio is 5.00%.

Hedge Funds Weigh In On Hudbay Minerals

Institutional investors have recently bought and sold shares of the business. Register Financial Advisors LLC bought a new position in Hudbay Minerals during the first quarter valued at $35,000. Banque Cantonale Vaudoise lifted its position in Hudbay Minerals by 38.7% during the first 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. Ballentine Partners LLC bought a new position in Hudbay Minerals during the first quarter valued at $85,000. Bank of Nova Scotia lifted its position in Hudbay Minerals by 19.1% during the third quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock valued at $121,000 after purchasing an additional 3,979 shares during the last quarter. Finally, Shell Asset Management Co. lifted its position in Hudbay Minerals by 38.6% during the third quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company’s stock valued at $128,000 after purchasing an additional 7,300 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.