Hudbay Minerals Inc. (NYSE:HBM) Expected to Announce Quarterly Sales of $455.21 Million

Equities analysts expect Hudbay Minerals Inc. (NYSE:HBMGet Rating) (TSE:HBM) to announce $455.21 million in sales for the current fiscal quarter, according to Zacks. Thirteen analysts have provided estimates for Hudbay Minerals’ earnings, with the highest sales estimate coming in at $520.04 million and the lowest estimate coming in at $394.16 million. Hudbay Minerals posted sales of $404.24 million during the same quarter last year, which suggests a positive year over year growth rate of 12.6%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Hudbay Minerals will report full year sales of $1.71 billion for the current financial year, with estimates ranging from $1.55 billion to $1.82 billion. For the next fiscal year, analysts expect that the business will post sales of $1.82 billion, with estimates ranging from $1.65 billion to $2.12 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Hudbay Minerals.

Hudbay Minerals (NYSE:HBMGet Rating) (TSE:HBM) last posted its quarterly earnings data on Wednesday, February 23rd. The mining company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. Hudbay Minerals had a negative net margin of 7.69% and a positive return on equity of 5.27%. The firm had revenue of $425.17 million during the quarter, compared to analyst estimates of $440.81 million. During the same quarter last year, the business posted ($0.06) EPS. The company’s revenue for the quarter was up 31.9% on a year-over-year basis.

Several brokerages have recently issued reports on HBM. Scotiabank decreased their target price on Hudbay Minerals from C$12.50 to C$12.00 in a research report on Wednesday, May 11th. Royal Bank of Canada lowered their price objective on Hudbay Minerals from C$14.00 to C$12.00 in a research note on Wednesday, May 11th. Raymond James increased their target price on shares of Hudbay Minerals from C$13.00 to C$14.00 in a research report on Wednesday, April 20th. StockNews.com downgraded shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, April 19th. Finally, National Bank Financial lowered their target price on shares of Hudbay Minerals from C$12.50 to C$11.50 in a report on Wednesday, May 11th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Hudbay Minerals currently has an average rating of “Buy” and an average target price of $12.84.

A number of hedge funds have recently added to or reduced their stakes in HBM. Public Sector Pension Investment Board grew its stake in Hudbay Minerals by 3.1% in the third quarter. Public Sector Pension Investment Board now owns 575,388 shares of the mining company’s stock worth $3,588,000 after purchasing an additional 17,120 shares during the period. Neuberger Berman Group LLC lifted its holdings in shares of Hudbay Minerals by 105.0% during the third quarter. Neuberger Berman Group LLC now owns 44,948 shares of the mining company’s stock valued at $280,000 after purchasing an additional 23,019 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Hudbay Minerals by 76.3% in the 4th quarter. Russell Investments Group Ltd. now owns 51,488 shares of the mining company’s stock worth $373,000 after purchasing an additional 22,291 shares in the last quarter. Credit Suisse AG grew its stake in shares of Hudbay Minerals by 5.3% in the 3rd quarter. Credit Suisse AG now owns 184,525 shares of the mining company’s stock worth $1,149,000 after buying an additional 9,265 shares during the last quarter. Finally, Signaturefd LLC increased its position in Hudbay Minerals by 111.3% during the 4th quarter. Signaturefd LLC now owns 5,279 shares of the mining company’s stock valued at $38,000 after buying an additional 2,781 shares in the last quarter. 67.11% of the stock is owned by institutional investors.

Shares of HBM opened at $5.83 on Tuesday. The stock has a 50 day moving average of $6.94 and a 200 day moving average of $7.24. The company has a current ratio of 1.35, a quick ratio of 0.92 and a debt-to-equity ratio of 0.79. Hudbay Minerals has a 12 month low of $4.96 and a 12 month high of $8.75. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -12.22, a PEG ratio of 0.30 and a beta of 2.07.

The business also recently announced a Semi-Annual dividend, which was paid on Friday, March 25th. Stockholders of record on Tuesday, March 8th were given a $0.008 dividend. This represents a dividend yield of 0.2%. This is a boost from Hudbay Minerals’s previous Semi-Annual dividend of $0.01. The ex-dividend date of this dividend was Monday, March 7th. Hudbay Minerals’s dividend payout ratio (DPR) is currently -4.35%.

About Hudbay Minerals (Get Rating)

Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; silver/gold doré; molybdenum concentrates; and zinc metals.

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Earnings History and Estimates for Hudbay Minerals (NYSE:HBM)

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