Raymond James Comments on Hudbay Minerals Inc.’s Q1 2024 Earnings (TSE:HBM)

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) – Equities research analysts at Raymond James decreased their Q1 2024 earnings per share (EPS) estimates for Hudbay Minerals in a note issued to investors on Wednesday, April 17th. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.10 per share for the quarter, down from their previous forecast of $0.11. Raymond James currently has a “Outperform” rating and a $11.50 price target on the stock. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.68 per share. Raymond James also issued estimates for Hudbay Minerals’ Q3 2024 earnings at $0.06 EPS and FY2024 earnings at $0.39 EPS.

Several other brokerages have also recently issued reports on HBM. Bank of America lifted their target price on Hudbay Minerals from C$8.50 to C$12.25 in a report on Tuesday, April 9th. Stifel Nicolaus set a C$11.25 price objective on Hudbay Minerals and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Canaccord Genuity Group upped their target price on Hudbay Minerals from C$10.50 to C$13.00 and gave the company a “buy” rating in a research note on Wednesday. CIBC upped their target price on Hudbay Minerals from C$11.00 to C$13.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Scotiabank boosted their price target on Hudbay Minerals from C$10.50 to C$11.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Hudbay Minerals currently has a consensus rating of “Moderate Buy” and a consensus price target of C$10.48.

Hudbay Minerals Price Performance

Shares of Hudbay Minerals stock opened at C$10.72 on Friday. The stock’s 50-day simple moving average is C$8.94 and its 200-day simple moving average is C$7.46. Hudbay Minerals has a 52 week low of C$5.46 and a 52 week high of C$11.05. The company has a market capitalization of C$3.76 billion, a price-to-earnings ratio of 35.73, a PEG ratio of 3.97 and a beta of 1.96. The company has a quick ratio of 0.85, a current ratio of 1.25 and a debt-to-equity ratio of 62.93.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last released its earnings results on Friday, February 23rd. The mining company reported C$0.27 earnings per share for the quarter, beating the consensus estimate of C$0.15 by C$0.12. Hudbay Minerals had a return on equity of 3.68% and a net margin of 3.93%. The company had revenue of C$819.90 million for the quarter, compared to the consensus estimate of C$710.46 million.

Hudbay Minerals Dividend Announcement

The firm also recently disclosed a 1 dividend, which was paid on Tuesday, March 5th. Stockholders of record on Friday, March 22nd were issued a dividend of $0.02 per share. The ex-dividend date was Friday, March 22nd. This represents a dividend yield of 0.13%. Hudbay Minerals’s dividend payout ratio is presently 6.67%.

Insider Activity at Hudbay Minerals

In related news, Senior Officer Mark Zachary Gupta sold 4,915 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$9.45, for a total value of C$46,446.75. In other Hudbay Minerals news, Senior Officer Mark Zachary Gupta sold 4,915 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$9.45, for a total transaction of C$46,446.75. Also, Senior Officer Luis Alfonso Santivanez Silva sold 19,499 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of C$6.01, for a total value of C$117,188.99. 0.07% of the stock is owned by insiders.

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.