Raymond James Equities Analysts Cut Earnings Estimates for Hudbay Minerals Inc. (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM - Raymond James cut their Q2 2024 earnings estimates for Hudbay Minerals in a research report issued on Wednesday, April 17th. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.01 per share for the quarter, down from their previous forecast of $0.09. 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' Q4 2024 earnings at $0.16 EPS and FY2025 earnings at $0.83 EPS.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last released its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The company had revenue of $602.20 million during the quarter, compared to the consensus estimate of $552.74 million. During the same period in the previous year, the firm earned $0.01 earnings per share. Hudbay Minerals's revenue for the quarter was up 87.5% on a year-over-year basis.

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

Hudbay Minerals Stock Down 1.5 %

Shares of HBM stock traded down $0.12 on Monday, hitting $7.67. The stock had a trading volume of 1,602,474 shares, compared to its average volume of 2,229,733. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 38.35, a P/E/G ratio of 0.79 and a beta of 1.95. The stock's 50 day moving average is $6.63 and its 200-day moving average is $5.54. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.87 and a current ratio of 1.25. Hudbay Minerals has a 52-week low of $3.94 and a 52-week high of $8.11.

Hudbay Minerals Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.0074 per share. The ex-dividend date was Monday, March 4th. This represents a dividend yield of 0.3%. Hudbay Minerals's dividend payout ratio (DPR) is 5.00%.

Institutional Trading of Hudbay Minerals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Galibier Capital Management Ltd. acquired a new stake in shares of Hudbay Minerals during the first quarter worth $12,604,000. Register Financial Advisors LLC acquired a new stake in shares of Hudbay Minerals in the 1st quarter worth about $35,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Hudbay Minerals in the 1st quarter worth about $130,000. Ballentine Partners LLC acquired a new stake in shares of Hudbay Minerals in the 1st quarter worth about $85,000. Finally, Banque Cantonale Vaudoise increased its holdings 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 acquiring an additional 1,806 shares during the period. 57.82% of the stock is owned by institutional investors and hedge funds.

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.