Brokers Set Expectations for Hudbay Minerals Inc.’s Q4 2024 Earnings (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Raymond James upped their Q4 2024 earnings estimates for Hudbay Minerals in a research report issued to clients and investors on Monday, April 22nd. Raymond James analyst F. Hamed now expects that the mining company will post earnings of $0.24 per share for the quarter, up from their prior estimate of $0.16. 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.

Several other research analysts have also issued reports on HBM. StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, March 29th. Bank of America upgraded 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, Stifel Nicolaus began coverage on shares of Hudbay Minerals in a report on Tuesday, March 26th. They issued a “buy” rating on the stock. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $9.75.

Hudbay Minerals Stock Performance

NYSE:HBM opened at $7.74 on Wednesday. The stock has a market cap of $2.72 billion, a P/E ratio of 38.70, a price-to-earnings-growth ratio of 0.75 and a beta of 1.95. The stock’s 50-day moving average is $6.73 and its 200-day moving average is $5.58. 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 has a 1-year low of $3.94 and a 1-year high of $8.11.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The firm had revenue of $602.20 million for the quarter, compared to analysts’ expectations of $552.74 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. The business’s revenue for the quarter was up 87.5% on a year-over-year basis.

Hudbay Minerals Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 5th were given a $0.0074 dividend. This represents a yield of 0.3%. The ex-dividend date was Monday, March 4th. Hudbay Minerals’s dividend payout ratio is 5.00%.

Hedge Funds Weigh In On Hudbay Minerals

Institutional investors and hedge funds have recently bought and sold shares of the company. U S Global Investors Inc. bought a new stake in shares of Hudbay Minerals in the third quarter valued at approximately $29,000. Galibier Capital Management Ltd. boosted its holdings in shares of Hudbay Minerals by 43.5% in the third quarter. Galibier Capital Management Ltd. now owns 516,942 shares of the mining company’s stock worth $2,527,000 after acquiring an additional 156,700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Hudbay Minerals by 23.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,986 shares of the mining company’s stock valued at $327,000 after purchasing an additional 12,748 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Hudbay Minerals by 6.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,290,344 shares of the mining company’s stock worth $35,643,000 after purchasing an additional 467,872 shares during the period. Finally, TD Asset Management Inc increased its holdings in Hudbay Minerals by 9.0% during the 3rd quarter. TD Asset Management Inc now owns 953,290 shares of the mining company’s stock worth $4,661,000 after acquiring an additional 78,493 shares during the period. 57.82% of the stock is owned by institutional investors.

Hudbay Minerals Company Profile

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.