National Bank Financial Comments on Hudbay Minerals Inc.’s Q2 2023 Earnings (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM – Get Rating) (TSE:HBM) – Analysts at National Bank Financial increased their Q2 2023 earnings per share estimates for Hudbay Minerals in a note issued to investors on Tuesday, May 9th. National Bank Financial analyst S. Nagle now anticipates that the mining company will post earnings of $0.16 per share for the quarter, up from their previous estimate of $0.09. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.58 per share. National Bank Financial also issued estimates for Hudbay Minerals’ Q3 2023 earnings at $0.28 EPS, FY2023 earnings at $0.66 EPS and FY2025 earnings at $0.40 EPS.

A number of other analysts also recently weighed in on HBM. StockNews.com started coverage on Hudbay Minerals in a report on Thursday, March 16th. They issued a “hold” rating for the company. Credit Suisse Group raised their price target on shares of Hudbay Minerals from C$8.50 to C$9.00 in a research report on Thursday, February 2nd. Finally, Scotiabank dropped their target price on shares of Hudbay Minerals from C$11.00 to C$10.00 in a research report on Tuesday, February 7th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Hudbay Minerals presently has a consensus rating of “Hold” and a consensus price target of $10.28.

Hudbay Minerals Stock Up 2.6 %

Shares of HBM opened at $4.66 on Friday. Hudbay Minerals has a 52 week low of $3.08 and a 52 week high of $6.34. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 0.68 and a beta of 1.94. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.82 and a current ratio of 1.17. The stock has a fifty day moving average of $4.99 and a 200-day moving average of $5.18.

Hudbay Minerals (NYSE:HBM – Get Rating) (TSE:HBM) last released its earnings results on Friday, February 24th. The mining company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). Hudbay Minerals had a return on equity of 1.70% and a net margin of 4.82%. The business had revenue of $321.20 million for the quarter, compared to the consensus estimate of $395.63 million. During the same quarter in the previous year, the company earned $0.13 earnings per share. The firm’s revenue for the quarter was down 24.5% on a year-over-year basis.

Hudbay Minerals Dividend Announcement

The firm also recently disclosed a Semi-Annual dividend, which was paid on Friday, March 24th. Shareholders of record on Tuesday, March 7th were given a dividend of $0.008 per share. The ex-dividend date was Monday, March 6th. This represents a yield of 0.3%. Hudbay Minerals’s dividend payout ratio (DPR) is currently 3.85%.

Institutional Investors Weigh In On Hudbay Minerals

Several institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its holdings in shares of Hudbay Minerals by 1.6% in the 1st quarter. Renaissance Technologies LLC now owns 2,162,729 shares of the mining company’s stock valued at $11,354,000 after acquiring an additional 33,300 shares during the last quarter. Stifel Financial Corp lifted its stake in Hudbay Minerals by 100.9% in the first quarter. Stifel Financial Corp now owns 22,540 shares of the mining company’s stock worth $118,000 after acquiring an additional 11,323 shares during the last quarter. BlackRock Inc. lifted its stake in Hudbay Minerals by 30.5% in the first quarter. BlackRock Inc. now owns 392,305 shares of the mining company’s stock worth $2,060,000 after acquiring an additional 91,587 shares during the last quarter. Franklin Resources Inc. lifted its stake in Hudbay Minerals by 40.2% in the first quarter. Franklin Resources Inc. now owns 90,453 shares of the mining company’s stock worth $474,000 after acquiring an additional 25,946 shares during the last quarter. Finally, Mirabella Financial Services LLP purchased a new position in Hudbay Minerals in the first quarter worth approximately $400,000. Institutional investors own 80.19% of the company’s stock.

Hudbay Minerals Company Profile

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Hudbay Minerals, Inc operates as a mining company. The firm engages in the production of copper concentrate, molybdenum concentrate and zinc metal. It focuses on the discovery, production and marketing of base and precious metals. The company was founded on January 16, 1996 and is headquartered in Toronto, Canada.