Hudbay Minerals Inc. (NYSE:HBM) Forecasted to Post Q4 2024 Earnings of $0.24 Per Share

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Raymond James upped their Q4 2024 earnings per share (EPS) estimates for shares of Hudbay Minerals in a research report issued to clients and investors on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.24 per share for the quarter, up from their previous forecast of $0.16. 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.

HBM has been the subject of several other research reports. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. Stifel Nicolaus assumed coverage on Hudbay Minerals in a report on Tuesday, March 26th. They issued a “buy” rating for the company. 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 report on Tuesday, April 9th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $9.75.

Hudbay Minerals Stock Up 0.1 %

Shares of NYSE HBM opened at $7.74 on Wednesday. The stock has a fifty day moving average price of $6.73 and a 200 day moving average price of $5.58. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. Hudbay Minerals has a 12-month low of $3.94 and a 12-month high of $8.11. The company has a market cap of $2.72 billion, a P/E ratio of 38.70, a P/E/G ratio of 0.75 and a beta of 1.95.

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

Hudbay Minerals Cuts Dividend

The firm 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. This represents a dividend yield of 0.3%. The ex-dividend date was Monday, March 4th. Hudbay Minerals’s dividend payout ratio (DPR) is currently 5.00%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. increased its holdings in shares of Hudbay Minerals by 475.3% in the 4th quarter. Donald Smith & CO. Inc. now owns 4,602,687 shares of the mining company’s stock valued at $25,407,000 after acquiring an additional 3,802,687 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Hudbay Minerals during the fourth quarter valued at $14,618,000. Invesco Ltd. raised its holdings in shares of Hudbay Minerals by 60.2% during the third quarter. Invesco Ltd. now owns 6,998,581 shares of the mining company’s stock worth $34,083,000 after purchasing an additional 2,630,780 shares during the period. L1 Capital Pty Ltd raised its holdings in shares of Hudbay Minerals by 15.1% during the third quarter. L1 Capital Pty Ltd now owns 16,299,356 shares of the mining company’s stock worth $79,378,000 after purchasing an additional 2,141,437 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Hudbay Minerals by 28.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock worth $51,836,000 after buying an additional 2,085,641 shares during the last quarter. 57.82% of the stock is currently owned by 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.