Analysts Offer Predictions for Hudbay Minerals Inc.’s Q2 2024 Earnings (TSE:HBM)

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) – Research analysts at Raymond James cut their Q2 2024 earnings estimates for shares of 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 $0.01 per share for the quarter, down from their previous estimate of $0.12. 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’ Q4 2024 earnings at $0.22 EPS and FY2025 earnings at $1.15 EPS.

A number of other equities research analysts have also recently weighed in on HBM. Bank of America boosted their price target on shares of Hudbay Minerals from C$8.50 to C$12.25 in a research report on Tuesday, April 9th. Scotiabank lifted their price objective on shares of Hudbay Minerals from C$10.50 to C$11.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Stifel Nicolaus set a C$11.25 price objective on shares of Hudbay Minerals and gave the company a “buy” rating in a research note on Tuesday, March 26th. National Bankshares lifted their price objective on shares of Hudbay Minerals from C$8.50 to C$8.75 and gave the company a “sector perform” rating in a research note on Monday, February 26th. Finally, Canaccord Genuity Group lifted their price objective on shares of Hudbay Minerals from C$10.50 to C$13.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$10.60.

Hudbay Minerals Price Performance

Shares of HBM opened at C$10.72 on Monday. Hudbay Minerals has a 1-year low of C$5.46 and a 1-year high of C$11.05. The stock has a market cap of C$3.76 billion, a PE ratio of 35.73, a price-to-earnings-growth ratio of 3.97 and a beta of 1.96. The company has a debt-to-equity ratio of 62.93, a current ratio of 1.25 and a quick ratio of 0.85. The firm has a fifty day moving average price of C$8.94 and a 200 day moving average price of C$7.48.

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

Insider Transactions at Hudbay Minerals

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

Hudbay Minerals Announces Dividend

The company also recently declared a 1 dividend, which was paid on Tuesday, March 5th. Stockholders of record on Friday, March 22nd were paid a dividend of $0.02 per share. 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 (DPR) is 6.67%.

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.