National Bank Financial Predicts HudBay Minerals Q2 Earnings

Key Points

• National Bank Financial initiated its Q2 earnings view on HudBay Minerals, forecasting $0.31 per share for the quarter. That estimate is below the company’s current full-year consensus EPS of $1.65.
• HudBay’s most recent quarterly results were stronger than expected, with $0.40 EPS versus $0.34 anticipated and revenue of $757.3 million, beating estimates and rising 27.3% year over year.
• Analyst sentiment remains broadly positive, with multiple firms maintaining or upgrading bullish ratings and a consensus target price of $27.33, while the stock recently traded at $22.56.

HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM - Equities researchers at National Bank Financial issued their Q2 2028 earnings per share estimates for HudBay Minerals in a research report issued to clients and investors on Wednesday, June 24th. National Bank Financial analyst S. Nagle forecasts that the mining company will earn $0.31 per share for the quarter. The consensus estimate for HudBay Minerals' current full-year earnings is $1.65 per share.

Several other analysts have also recently issued reports on HBM. Scotiabank restated an "outperform" rating on shares of HudBay Minerals in a research report on Thursday, June 25th. Weiss Ratings raised HudBay Minerals from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday. Barclays started coverage on HudBay Minerals in a research report on Thursday, May 21st. They set an "overweight" rating and a $30.00 target price on the stock. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of HudBay Minerals in a research report on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of HudBay Minerals from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, HudBay Minerals has an average rating of "Buy" and a consensus target price of $27.33.

HudBay Minerals Price Performance

HBM stock opened at $22.56 on Thursday. HudBay Minerals has a 52 week low of $8.93 and a 52 week high of $32.15. The firm has a market capitalization of $10.02 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 0.27 and a beta of 1.48. The company has a fifty day simple moving average of $25.76 and a two-hundred day simple moving average of $23.84. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The business had revenue of $757.30 million for the quarter, compared to analysts' expectations of $684.73 million. During the same period in the prior year, the firm earned $0.24 EPS. The company's revenue for the quarter was up 27.3% on a year-over-year basis.

Institutional Investors Weigh In On HudBay Minerals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FIL Ltd increased its position in shares of HudBay Minerals by 202.0% during the fourth quarter. FIL Ltd now owns 33,143,172 shares of the mining company's stock worth $658,010,000 after acquiring an additional 22,169,339 shares during the period. Invesco Ltd. grew its stake in HudBay Minerals by 0.4% in the third quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company's stock worth $172,693,000 after purchasing an additional 46,948 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in HudBay Minerals by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 11,334,474 shares of the mining company's stock worth $171,832,000 after purchasing an additional 348,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in HudBay Minerals by 10.4% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,502,218 shares of the mining company's stock valued at $159,111,000 after purchasing an additional 986,278 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in HudBay Minerals by 116.1% during the 4th quarter. Mackenzie Financial Corp now owns 10,178,626 shares of the mining company's stock valued at $202,327,000 after purchasing an additional 5,468,109 shares in the last quarter. Institutional investors own 57.82% of the company's stock.

HudBay Minerals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th were issued a $0.01 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. HudBay Minerals's dividend payout ratio is presently 1.81%.

Key Stories Impacting HudBay Minerals

Here are the key news stories impacting HudBay Minerals this week:

• Positive Sentiment: Copper is getting more investor attention as the metal’s rally strengthens relative to gold, and HudBay Minerals is viewed as a producer positioned to benefit from higher copper demand. Copper Stocks Are Getting a Bigger Spotlight as Gold’s Rally Cracks
• Positive Sentiment: Scotiabank raised its FY2030 earnings estimate for HudBay Minerals to $2.44 from $1.03 and kept an Outperform rating, which can support optimism around long-term earnings potential. HudBay Minerals stock report
• Neutral Sentiment: National Bank Financial published a broad set of earnings estimates for HudBay, including near-term quarterly forecasts around $0.38 to $0.40 per share and FY2026/FY2027 estimates of $1.57 per share, roughly in line with the current consensus for the year. HudBay Minerals analyst estimates
• Neutral Sentiment: A separate market commentary noted that U.S. equities had a strong second quarter but are looking increasingly expensive on valuation, which is more of a broad-market caution than a company-specific driver for HBM. Stocks Surged in Q2 2026, but Is the Market Getting Too Expensive?
• Negative Sentiment: National Bank Financial’s near- and medium-term earnings forecasts are below the current consensus full-year EPS estimate of $1.65, which may temper enthusiasm if investors focus on the possibility of softer profit growth. HudBay Minerals earnings estimates

HudBay Minerals Company Profile

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company's operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.

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