Scotiabank Forecasts Increased Earnings for HudBay Minerals

Key Points

• Scotiabank raised its FY2030 earnings estimate for HudBay Minerals to $2.44 per share from $1.03 and maintained an Outperform rating, signaling a much stronger long-term outlook.
• HudBay recently topped quarterly expectations, reporting $0.40 EPS versus $0.34 expected and revenue of $757.3 million, well above analyst forecasts.
• Wall Street sentiment remains upbeat overall, with the stock carrying a Buy consensus and a target price of $27.33, while shares were trading around $23.68.

HudBay Minerals Inc (NYSE:HBM - Free Report) TSE: HBM - Equities researchers at Scotiabank boosted their FY2030 earnings estimates for shares of HudBay Minerals in a research report issued on Wednesday, June 24th. Scotiabank analyst O. Wowkodaw now expects that the mining company will earn $2.44 per share for the year, up from their prior estimate of $1.03. Scotiabank has a "Outperform" rating on the stock. The consensus estimate for HudBay Minerals' current full-year earnings is $1.65 per share.

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

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

HudBay Minerals Price Performance

Shares of NYSE HBM opened at $23.68 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20. HudBay Minerals has a 1-year low of $8.93 and a 1-year high of $32.15. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 0.27 and a beta of 1.43. The business has a 50-day moving average of $25.86 and a 200-day moving average of $23.77.

Institutional Trading of HudBay Minerals

A number of hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its stake 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 valued at $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% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company's stock valued at $55,264,000 after purchasing an additional 4,299,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 worth $3,337,000 after purchasing an additional 27,944 shares during the last quarter. Geode Capital Management LLC lifted its position 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 worth $2,363,000 after purchasing an additional 15,235 shares during the last quarter. Finally, Creative Planning grew its stake in HudBay Minerals by 5.4% in 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 in the last quarter. Institutional investors and hedge funds own 57.82% of the company's stock.

HudBay Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Tuesday, June 9th were paid 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 dividend payout ratio is 1.81%.

HudBay Minerals News Summary

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

• Positive Sentiment: HudBay Minerals has been outperforming the broader market, which may be supporting investor sentiment in the shares. HudBay Minerals (HBM) Outperforms Broader Market: What You Need to Know
• Positive Sentiment: Scotiabank raised its FY2030 EPS estimate for HudBay Minerals to $2.44 from $1.03 and kept an Outperform rating, signaling stronger long-term earnings potential.
• Neutral Sentiment: National Bank Financial published multiple earnings estimates for HudBay Minerals across 2026-2030, broadly projecting steady quarterly earnings and moderate long-term profitability.
• Negative Sentiment: National Bank Financial’s FY2026 EPS estimate of $1.57 and FY2029 estimate of $1.31 are below the current consensus of $1.65, which could be viewed as a slight valuation headwind.
• Negative Sentiment: Scotiabank also flagged a more cautious view on near-term Q2 earnings, suggesting some uncertainty around immediate results. Scotiabank Has Negative View of HudBay Minerals Q2 Earnings

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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