FY2024 EPS Estimates for Hudbay Minerals Inc. Reduced by Analyst (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Investment analysts at Raymond James lowered their FY2024 earnings estimates for Hudbay Minerals in a research note issued on Monday, September 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.64 per share for the year, down from their previous estimate of $0.69. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.52 per share.

HBM has been the subject of a number of other research reports. Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. StockNews.com cut Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Hudbay Minerals currently has an average rating of “Buy” and an average price target of $10.88.

Hudbay Minerals Price Performance

Shares of NYSE:HBM opened at $8.76 on Thursday. The company’s fifty day moving average price is $7.70 and its 200-day moving average price is $8.20. Hudbay Minerals has a one year low of $3.94 and a one year high of $10.49. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.86 and a quick ratio of 1.49. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 38.07 and a beta of 1.77.

Hudbay Minerals Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, September 3rd were issued a $0.007 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a yield of 0.2%. Hudbay Minerals’s dividend payout ratio (DPR) is presently 4.35%.

Institutional Trading of Hudbay Minerals

Several large investors have recently bought and sold shares of HBM. Gordian Capital Singapore Pte Ltd bought a new position in shares of Hudbay Minerals during the second quarter valued at approximately $620,000. Point72 Asset Management L.P. grew its stake in shares of Hudbay Minerals by 125.4% in the second quarter. Point72 Asset Management L.P. now owns 38,100 shares of the mining company’s stock worth $345,000 after acquiring an additional 21,200 shares during the last quarter. Algert Global LLC bought a new position in shares of Hudbay Minerals during the second quarter valued at $111,000. Driehaus Capital Management LLC purchased a new position in shares of Hudbay Minerals in the 2nd quarter worth about $14,718,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Hudbay Minerals in the 2nd quarter worth about $278,000. 57.82% of the stock is owned by institutional investors.

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.