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

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) – Raymond James increased their Q2 2024 earnings estimates for shares of Hudbay Minerals in a report released on Monday, April 22nd. Raymond James analyst F. Hamed now expects that the mining company will post earnings of $0.11 per share for the quarter, up from their previous estimate of $0.01. 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 $0.14 EPS, Q4 2024 earnings at $0.33 EPS and FY2024 earnings at $0.67 EPS.

HBM has been the subject of several other research reports. Canaccord Genuity Group lifted their price objective on shares of Hudbay Minerals from C$10.50 to C$13.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. CIBC boosted their target price on shares of Hudbay Minerals from C$11.00 to C$13.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Scotiabank boosted their target price on shares of Hudbay Minerals from C$10.50 to C$11.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Stifel Nicolaus set a C$11.25 target price on shares of Hudbay Minerals and gave the company a “buy” rating in a research report on Tuesday, March 26th. Finally, Eight Capital boosted their target price on shares of Hudbay Minerals from C$12.00 to C$14.50 and gave the company a “buy” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Hudbay Minerals currently has an average rating of “Moderate Buy” and a consensus target price of C$11.06.

Hudbay Minerals Price Performance

Shares of Hudbay Minerals stock opened at C$11.10 on Thursday. Hudbay Minerals has a twelve month low of C$5.46 and a twelve month high of C$11.20. The company has a quick ratio of 0.85, a current ratio of 1.25 and a debt-to-equity ratio of 62.93. The company has a 50-day simple moving average of C$9.15 and a two-hundred day simple moving average of C$7.56. The stock has a market capitalization of C$3.89 billion, a price-to-earnings ratio of 37.00, a price-to-earnings-growth ratio of 3.97 and a beta of 1.96.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its quarterly earnings data on Friday, February 23rd. The mining company reported C$0.27 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of C$819.90 million during the quarter, compared to analysts’ expectations of C$710.46 million.

Hudbay Minerals Dividend Announcement

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

Insider Activity at Hudbay Minerals

In related news, Senior Officer Mark Zachary Gupta sold 4,915 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of C$9.45, for a total transaction of C$46,446.75. In related news, Senior Officer Mark Zachary Gupta sold 4,915 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of C$9.45, for a total transaction of C$46,446.75. Also, Senior Officer Luis Alfonso Santivanez Silva sold 19,499 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of C$6.01, for a total transaction of C$117,188.99. 0.07% of the stock is owned by corporate insiders.

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.