Hudbay Minerals Inc. (NYSE:HBM) Expected to Post Q2 2024 Earnings of $0.08 Per Share

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Stock analysts at Raymond James increased their Q2 2024 earnings estimates for Hudbay Minerals in a research report issued on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings per share of $0.08 for the quarter, up from their previous forecast of $0.01. Raymond James has a “Outperform” rating and a $10.50 price objective on the stock. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.42 per share. Raymond James also issued estimates for Hudbay Minerals’ Q3 2024 earnings at $0.10 EPS and FY2024 earnings at $0.49 EPS.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus started coverage on shares of Hudbay Minerals in a research note on Tuesday, March 26th. They set a “buy” rating for the company. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. Finally, Bank of America raised shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Tuesday, April 9th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $9.75.

Hudbay Minerals Trading Up 5.0 %

Shares of HBM stock opened at $8.13 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.87. The firm has a market cap of $2.85 billion, a PE ratio of 40.63, a price-to-earnings-growth ratio of 0.79 and a beta of 1.95. The company has a 50-day moving average of $6.79 and a two-hundred day moving average of $5.60. Hudbay Minerals has a 1-year low of $3.94 and a 1-year high of $8.18.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $602.20 million during the quarter, compared to analyst estimates of $552.74 million. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. Hudbay Minerals’s revenue was up 87.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Galibier Capital Management Ltd. purchased a new position in Hudbay Minerals in the first quarter worth approximately $12,604,000. Register Financial Advisors LLC purchased a new position in Hudbay Minerals in the first quarter worth approximately $35,000. Counterpoint Mutual Funds LLC purchased a new position in Hudbay Minerals in the first quarter worth approximately $130,000. Ballentine Partners LLC purchased a new position in Hudbay Minerals in the first quarter worth approximately $85,000. Finally, Banque Cantonale Vaudoise lifted its stake in Hudbay Minerals by 38.7% in the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after acquiring an additional 1,806 shares during the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Cuts Dividend

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

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.