Scotiabank Cuts Earnings Estimates for Hudbay Minerals

Key Points

• Scotiabank lowered its FY2027 EPS estimate for Hudbay Minerals to $2.80 from $2.83, while maintaining a “Sector Outperform” rating and a $43.00 price target.
• Analyst sentiment remains positive overall, with Hudbay holding a consensus “Buy” rating and an average target price of C$42.03, despite mixed target-price adjustments from several firms.
• Hudbay shares opened at C$38.78 and have gained substantially from their 12-month low of C$20.26; the company most recently reported C$0.40 quarterly EPS and pays a small annualized dividend of $0.04 per share.

Hudbay Minerals Inc. (TSE:HBM - Free Report) NYSE: HBM - Investment analysts at Scotiabank dropped their FY2027 earnings per share estimates for shares of Hudbay Minerals in a report issued on Thursday, October 1st. Scotiabank analyst O. Wowkodaw now forecasts that the mining company will post earnings per share of $2.80 for the year, down from their previous estimate of $2.83. Scotiabank has a "Sector Outperform" rating and a $43.00 price objective on the stock. The consensus estimate for Hudbay Minerals' current full-year earnings is $1.12 per share.

Several other analysts have also commented on HBM. National Bank Financial decreased their price objective on Hudbay Minerals from C$40.00 to C$38.50 and set a "sector perform" rating for the company in a report on Tuesday, July 14th. Jefferies Financial Group dropped their target price on Hudbay Minerals from C$57.00 to C$50.00 in a research note on Monday, July 6th. ATB Cormark Capital Markets reduced their target price on Hudbay Minerals from C$35.50 to C$35.00 and set an "outperform" rating on the stock in a research report on Thursday, July 30th. Raymond James Financial upped their target price on Hudbay Minerals from C$42.00 to C$43.00 in a research report on Wednesday, September 30th. Finally, Stifel Nicolaus increased their price target on Hudbay Minerals from C$41.00 to C$43.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of C$42.03.

Hudbay Minerals Price Performance

TSE HBM opened at C$38.78 on Monday. The firm's fifty day simple moving average is C$37.38 and its two-hundred day simple moving average is C$34.79. The company has a current ratio of 2.24, a quick ratio of 0.85 and a debt-to-equity ratio of 19.04. Hudbay Minerals has a 12-month low of C$20.26 and a 12-month high of C$44.48. The firm has a market capitalization of C$17.22 billion, a P/E ratio of 23.82, a P/E/G ratio of 3.97 and a beta of 2.31.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM last announced its earnings results on Wednesday, July 29th. The mining company reported C$0.40 EPS for the quarter. The business had revenue of C$896.94 million during the quarter. Hudbay Minerals had a net margin of 27.22% and a return on equity of 18.41%.

Hudbay Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 25th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. Hudbay Minerals's payout ratio is 1.32%.

About Hudbay Minerals

Hudbay TSX, NYSE: HBM is a copper-focused critical minerals mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. Hudbay's operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the Company, which is complemented by meaningful gold production and by-product zinc, silver and molybdenum.

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