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 dropped their Q1 2024 earnings per share estimates for Hudbay Minerals in a research report issued on Wednesday, April 17th. Raymond James analyst F. Hamed now anticipates that the mining company will earn $0.10 per share for the quarter, down from their prior forecast of $0.11. Raymond James currently has a “Outperform” rating and a $11.50 target price 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.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its quarterly earnings data on Friday, February 23rd. The mining company reported C$0.27 EPS for the quarter, topping 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 firm had revenue of C$819.90 million for the quarter, compared to the consensus estimate of C$710.46 million.

Several other analysts have also recently issued reports on HBM. CIBC increased their target price on Hudbay Minerals from C$11.00 to C$13.00 and gave the stock an “outperform” rating in a research report on Wednesday. National Bankshares raised their price target on Hudbay Minerals from C$8.50 to C$8.75 and gave the company a “sector perform” rating in a report on Monday, February 26th. Scotiabank raised 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. Canaccord Genuity Group raised their price objective on Hudbay Minerals from C$10.50 to C$13.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets lowered their price objective on Hudbay Minerals from C$9.50 to C$8.50 and set an “outperform” rating for the company in a research note on Friday, December 22nd. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$10.48.

Hudbay Minerals Stock Down 1.2 %

TSE HBM opened at C$10.72 on Friday. The stock’s 50-day moving average price is C$8.94 and its 200-day moving average price is C$7.46. 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 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 P/E ratio of 35.73, a price-to-earnings-growth ratio of 3.97 and a beta of 1.96.

Hudbay Minerals Announces Dividend

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

Insider Activity

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

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.