Hudbay Minerals Inc. to Post Q1 2024 Earnings of $0.07 Per Share, Raymond James Forecasts (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM - Equities researchers at Raymond James lowered their Q1 2024 earnings per share estimates for shares of Hudbay Minerals in a research report issued on Wednesday, April 17th. Raymond James analyst F. Hamed now expects that the mining company will post earnings per share of $0.07 for the quarter, down from their previous estimate of $0.08. Raymond James currently has a "Outperform" rating and a $10.50 target price on the stock. The consensus estimate for Hudbay Minerals' current full-year earnings is $0.44 per share. Raymond James also issued estimates for Hudbay Minerals' Q3 2024 earnings at $0.04 EPS and FY2024 earnings at $0.28 EPS.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last issued its earnings results on Friday, February 23rd. The mining company reported $0.20 EPS 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 return on equity of 3.86% and a net margin of 3.95%. The business's revenue was up 87.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 EPS.

A number of other research analysts have also issued reports on HBM. Bank of America upgraded Hudbay Minerals from a "neutral" rating to a "buy" rating and set a $9.00 price objective for the company in a research report on Tuesday, April 9th. StockNews.com upgraded Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Friday, March 29th. Finally, Stifel Nicolaus assumed coverage on Hudbay Minerals in a research report on Tuesday, March 26th. They set a "buy" rating for the company. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $9.75.

Hudbay Minerals Stock Performance

NYSE:HBM traded down $0.09 during midday trading on Friday, reaching $7.79. 3,609,375 shares of the company traded hands, compared to its average volume of 2,216,061. Hudbay Minerals has a twelve month low of $3.94 and a twelve month high of $8.11. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 38.95, a price-to-earnings-growth ratio of 0.75 and a beta of 1.95. 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 company has a fifty day moving average price of $6.58 and a 200 day moving average price of $5.51.

Hudbay Minerals Cuts Dividend

The company 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 dividend payout ratio is presently 5.00%.

Institutional Trading of Hudbay Minerals

Hedge funds and other institutional investors have recently modified their holdings of the company. Register Financial Advisors LLC bought a new stake in shares of Hudbay Minerals in the 1st quarter worth $35,000. Tower Research Capital LLC TRC raised its stake in shares of Hudbay Minerals by 2,894.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,330 shares of the mining company's stock worth $26,000 after buying an additional 5,152 shares in the last quarter. U S Global Investors Inc. bought a new stake in shares of Hudbay Minerals in the 3rd quarter worth $29,000. Banque Cantonale Vaudoise raised its stake in shares of Hudbay Minerals by 38.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company's stock worth $45,000 after buying an additional 1,806 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of Hudbay Minerals by 122.4% in the 1st quarter. US Bancorp DE now owns 7,899 shares of the mining company's stock worth $62,000 after buying an additional 4,347 shares in the last quarter. Institutional investors own 57.82% of the company's stock.

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.