Q2 EPS Estimates for HudBay Minerals Decreased by Scotiabank

Key Points

• Scotiabank trimmed its Q2 2026 EPS estimate for HudBay Minerals slightly to $0.39 from $0.40, while maintaining an Outperform rating on the stock.
• The bank also updated several longer-term forecasts, raising or revising earnings expectations through FY2029, which points to a constructive outlook for the mining company’s future profitability.
• HudBay Minerals remains broadly well regarded by analysts, with a consensus “Buy” rating and an average target price of $27.33, even as some short-term estimates were slightly reduced.

HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM - Investment analysts at Scotiabank cut their Q2 2026 earnings per share estimates for shares of HudBay Minerals in a research note issued on Wednesday, June 24th. Scotiabank analyst O. Wowkodaw now expects that the mining company will earn $0.39 per share for the quarter, down from their prior estimate of $0.40. Scotiabank currently has a "Outperform" rating on the stock. The consensus estimate for HudBay Minerals' current full-year earnings is $1.65 per share. Scotiabank also issued estimates for HudBay Minerals' Q3 2026 earnings at $0.42 EPS, Q4 2026 earnings at $0.42 EPS, FY2026 earnings at $1.62 EPS, Q1 2027 earnings at $0.47 EPS, Q2 2027 earnings at $0.47 EPS, Q3 2027 earnings at $0.47 EPS, Q4 2027 earnings at $0.47 EPS, FY2027 earnings at $1.87 EPS, FY2028 earnings at $1.63 EPS and FY2029 earnings at $2.96 EPS.

A number of other analysts also recently weighed in on the stock. Barclays began coverage on shares of HudBay Minerals in a report on Thursday, May 21st. They set an "overweight" rating and a $30.00 price target for the company. Wall Street Zen raised shares of HudBay Minerals from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Weiss Ratings downgraded shares of HudBay Minerals from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, June 8th. Finally, Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $27.33.

HudBay Minerals Price Performance

HBM stock opened at $23.33 on Monday. 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 has a 12 month low of $8.93 and a 12 month high of $32.15. The firm has a market cap of $9.27 billion, a P/E ratio of 14.05, a P/E/G ratio of 0.27 and a beta of 1.43. The company's 50-day moving average price is $25.89 and its two-hundred day moving average price is $23.73.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $684.73 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. HudBay Minerals's revenue for the quarter was up 27.3% compared to the same quarter last year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its holdings in HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company's stock worth $50,000 after acquiring an additional 3,733 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of HudBay Minerals by 144.2% during the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company's stock valued at $55,264,000 after acquiring an additional 4,299,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of HudBay Minerals by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company's stock valued at $3,337,000 after acquiring an additional 27,944 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of HudBay Minerals by 7.4% during the second quarter. Geode Capital Management LLC now owns 221,685 shares of the mining company's stock valued at $2,363,000 after acquiring an additional 15,235 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of HudBay Minerals by 5.4% during the second quarter. Creative Planning now owns 25,067 shares of the mining company's stock worth $266,000 after purchasing an additional 1,289 shares during the period. Institutional investors own 57.82% of the company's stock.

HudBay Minerals Announces Dividend

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

More HudBay Minerals News

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

• Positive Sentiment: Scotiabank maintained an Outperform rating on HudBay Minerals and raised several near- and medium-term earnings estimates, including FY2027 and FY2029, signaling confidence in the company’s longer-term profit outlook.
• Positive Sentiment: The bank also lifted quarterly EPS forecasts for multiple periods, including Q1 2027, Q2 2027, Q3 2027, and Q4 2027, which suggests improving expectations for future operating performance.
• Positive Sentiment: A separate report noted that HudBay Minerals now has a consensus analyst recommendation of “Buy”, which can reinforce bullish sentiment among investors. HudBay Minerals Inc NYSE: HBM Receives Consensus Recommendation of "Buy" from Analysts
• Neutral Sentiment: Scotiabank slightly trimmed FY2026 and FY2028 EPS estimates while lowering Q2 2026 and Q3 2026 forecasts modestly, indicating some short-term caution even as the broader outlook improved.

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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