Zacks: Analysts Anticipate Hudbay Minerals Inc. (NYSE:HBM) Will Announce Quarterly Sales of $332.44 Million

Thursday, April 8, 2021 | MarketBeat

Brokerages expect that Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) will report sales of $332.44 million for the current fiscal quarter, according to Zacks. Fourteen analysts have made estimates for Hudbay Minerals' earnings, with the lowest sales estimate coming in at $272.36 million and the highest estimate coming in at $362.42 million. Hudbay Minerals posted sales of $245.11 million in the same quarter last year, which suggests a positive year-over-year growth rate of 35.6%. The company is scheduled to announce its next quarterly earnings results on Thursday, May 13th.

According to Zacks, analysts expect that Hudbay Minerals will report full year sales of $1.42 billion for the current year, with estimates ranging from $1.23 billion to $1.57 billion. For the next year, analysts anticipate that the firm will post sales of $1.52 billion, with estimates ranging from $1.32 billion to $1.80 billion. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side analysts that cover Hudbay Minerals.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Thursday, February 18th. The mining company reported ($0.06) earnings per share for the quarter, topping the Zacks' consensus estimate of ($0.08) by $0.02. Hudbay Minerals had a negative return on equity of 7.32% and a negative net margin of 14.02%. The company had revenue of $322.29 million for the quarter, compared to analyst estimates of $289.07 million.

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada upgraded shares of Hudbay Minerals from a "sector perform" rating to an "outperform" rating in a research report on Wednesday, March 31st. Barclays downgraded shares of Hudbay Minerals from an "overweight" rating to an "equal weight" rating and set a $8.00 price target for the company. in a report on Wednesday, January 6th. Raymond James raised Hudbay Minerals from a "market perform" rating to an "outperform" rating in a research note on Tuesday. Stifel Nicolaus upped their price target on Hudbay Minerals from $12.00 to $13.25 and gave the company a "buy" rating in a research note on Wednesday, March 31st. Finally, Bank of America upgraded Hudbay Minerals from an "underperform" rating to a "buy" rating and increased their price target for the stock from $10.60 to $12.20 in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Hudbay Minerals currently has an average rating of "Buy" and a consensus target price of $11.20.

NYSE HBM opened at $7.91 on Thursday. The business's fifty day simple moving average is $7.18 and its 200-day simple moving average is $6.19. The company has a quick ratio of 1.81, a current ratio of 2.21 and a debt-to-equity ratio of 0.72. The firm has a market cap of $2.07 billion, a PE ratio of -13.41 and a beta of 2.57. Hudbay Minerals has a 52 week low of $1.86 and a 52 week high of $8.39.

The firm also recently declared a semi-annual dividend, which was paid on Friday, March 26th. Stockholders of record on Tuesday, March 9th were given a dividend of $0.0079 per share. This represents a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, March 8th. This is a boost from Hudbay Minerals's previous semi-annual dividend of $0.01.

A number of institutional investors and hedge funds have recently made changes to their positions in HBM. Exane Derivatives acquired a new stake in Hudbay Minerals during the 4th quarter worth approximately $34,000. Van ECK Associates Corp raised its stake in shares of Hudbay Minerals by 55.6% in the fourth quarter. Van ECK Associates Corp now owns 4,850 shares of the mining company's stock valued at $34,000 after acquiring an additional 1,734 shares in the last quarter. Waratah Capital Advisors Ltd. purchased a new position in Hudbay Minerals in the fourth quarter valued at $83,000. Dynamic Technology Lab Private Ltd acquired a new position in Hudbay Minerals during the 4th quarter worth $89,000. Finally, ExodusPoint Capital Management LP purchased a new stake in Hudbay Minerals during the 3rd quarter worth about $82,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; molybdenum concentrates; and zinc metals.

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