Desjardins Increases Earnings Estimates for HudBay Minerals

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) – Equities researchers at Desjardins lifted their FY2025 earnings per share estimates for shares of HudBay Minerals in a report issued on Wednesday, October 1st. Desjardins analyst B. Adams now expects that the mining company will earn $0.85 per share for the year, up from their prior estimate of $0.77. The consensus estimate for HudBay Minerals’ current full-year earnings is $0.79 per share.

Other research analysts also recently issued reports about the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of HudBay Minerals in a report on Thursday, August 14th. Veritas raised HudBay Minerals to a “strong-buy” rating in a research note on Monday, July 7th. CIBC restated an “outperform” rating on shares of HudBay Minerals in a research report on Tuesday, July 15th. National Bankshares restated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, August 14th. Finally, Raymond James Financial upgraded HudBay Minerals to a “moderate buy” rating in a research report on Monday, June 30th. Two analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to MarketBeat.com, HudBay Minerals has a consensus rating of “Buy”.

HudBay Minerals Price Performance

Shares of NYSE:HBM opened at $15.74 on Friday. The company has a 50 day moving average of $12.10 and a 200 day moving average of $9.86. The company has a current ratio of 1.03, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The stock has a market cap of $6.23 billion, a P/E ratio of 21.55, a P/E/G ratio of 0.37 and a beta of 1.55. HudBay Minerals has a 12 month low of $5.95 and a 12 month high of $15.85.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Wednesday, August 13th. The mining company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.08. HudBay Minerals had a return on equity of 10.73% and a net margin of 13.13%.The firm had revenue of $536.40 million for the quarter, compared to analysts’ expectations of $558.21 million. The firm’s quarterly revenue was up 26.1% on a year-over-year basis.

Hedge Funds Weigh In On HudBay Minerals

A number of large investors have recently modified their holdings of the company. GMT Capital Corp bought a new stake in HudBay Minerals in the second quarter worth $337,809,000. Hancock Prospecting Pty Ltd purchased a new position in shares of HudBay Minerals in the second quarter worth about $154,359,000. Picton Mahoney Asset Management bought a new stake in shares of HudBay Minerals in the 2nd quarter valued at about $61,432,000. Norges Bank bought a new stake in shares of HudBay Minerals in the 2nd quarter valued at about $60,053,000. Finally, Millennium Management LLC boosted its holdings in HudBay Minerals by 298.5% during the 1st quarter. Millennium Management LLC now owns 6,115,053 shares of the mining company’s stock valued at $46,411,000 after acquiring an additional 4,580,718 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

HudBay Minerals Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, September 19th. Stockholders of record on Tuesday, September 2nd were issued a $0.0073 dividend. This represents a dividend yield of 17.0%. The ex-dividend date was Tuesday, September 2nd. This is an increase from HudBay Minerals’s previous semi-annual dividend of $0.01. HudBay Minerals’s dividend payout ratio (DPR) is currently 1.37%.

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.