Research Analysts Issue Forecasts for Hudbay Minerals Inc.’s Q1 2024 Earnings (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Raymond James lowered their Q1 2024 earnings per share estimates for shares of Hudbay Minerals in a research report issued on Wednesday, April 17th. Raymond James analyst F. Hamed now forecasts that the mining company will earn $0.07 per share for the quarter, down from their prior estimate of $0.08. 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. Raymond James also issued estimates for Hudbay Minerals’ Q3 2024 earnings at $0.04 EPS and FY2024 earnings at $0.28 EPS.

A number of other equities analysts have also commented on HBM. Stifel Nicolaus initiated coverage on Hudbay Minerals in a report on Tuesday, March 26th. They set a “buy” rating on the stock. Bank of America raised shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Tuesday, April 9th. Finally, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $9.75.

Hudbay Minerals Stock Performance

NYSE:HBM opened at $7.79 on Friday. The stock has a market capitalization of $2.73 billion, a P/E ratio of 38.95, a price-to-earnings-growth ratio of 0.75 and a beta of 1.95. Hudbay Minerals has a 1 year low of $3.94 and a 1 year high of $8.11. The firm has a 50 day moving average of $6.58 and a 200-day moving average of $5.51. 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 (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 firm had revenue of $602.20 million during the quarter, compared to analyst estimates of $552.74 million. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The business’s revenue for the quarter was up 87.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 earnings per share.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Galibier Capital Management Ltd. acquired a new stake in Hudbay Minerals in the first quarter worth $12,604,000. Register Financial Advisors LLC acquired a new stake in Hudbay Minerals during the 1st quarter worth $35,000. Counterpoint Mutual Funds LLC bought a new position in Hudbay Minerals during the first quarter worth about $130,000. Ballentine Partners LLC bought a new position in Hudbay Minerals during the first quarter worth about $85,000. Finally, Banque Cantonale Vaudoise grew its stake in Hudbay Minerals by 38.7% in the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after acquiring an additional 1,806 shares during the period. Institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Cuts Dividend

The business also recently disclosed 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 of this dividend was Monday, March 4th. This represents a dividend yield of 0.3%. Hudbay Minerals’s dividend payout ratio (DPR) is presently 5.00%.

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.