Raymond James Brokers Raise Earnings Estimates for Hudbay Minerals Inc. (TSE:HBM)

Hudbay Minerals Inc. (TSE:HBM - Free Report) NYSE: HBM - Equities researchers at Raymond James boosted their Q2 2024 earnings per share (EPS) estimates for Hudbay Minerals in a report issued on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings per share of $0.11 for the quarter, up from their previous forecast of $0.01. The consensus estimate for Hudbay Minerals' current full-year earnings is $0.68 per share. Raymond James also issued estimates for Hudbay Minerals' Q3 2024 earnings at $0.14 EPS, Q4 2024 earnings at $0.33 EPS and FY2024 earnings at $0.67 EPS.

A number of other research firms also recently issued reports on HBM. Bank of America lifted their price objective on Hudbay Minerals from C$8.50 to C$12.25 in a research note on Tuesday, April 9th. Stifel Nicolaus set a C$11.25 price target on Hudbay Minerals and gave the stock a "buy" rating in a research report on Tuesday, March 26th. Canaccord Genuity Group upped their price objective on Hudbay Minerals from C$10.50 to C$13.00 and gave the stock a "buy" rating in a research note on Wednesday, April 17th. Eight Capital upped their price objective on Hudbay Minerals from C$12.00 to C$14.50 and gave the stock a "buy" rating in a research note on Monday. Finally, National Bankshares increased their price target on Hudbay Minerals from C$8.50 to C$8.75 and gave the company a "sector perform" rating in a research note on Monday, February 26th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, Hudbay Minerals presently has a consensus rating of "Moderate Buy" and an average target price of C$11.06.

Hudbay Minerals Stock Performance

Shares of TSE HBM traded up C$0.50 during trading on Thursday, hitting C$11.10. The company had a trading volume of 2,381,573 shares, compared to its average volume of 1,245,048. The stock has a 50 day simple moving average of C$9.15 and a 200 day simple moving average of C$7.56. The firm has a market capitalization of C$3.89 billion, a P/E ratio of 37.00, a price-to-earnings-growth ratio of 3.97 and a beta of 1.96. Hudbay Minerals has a 12 month low of C$5.46 and a 12 month high of C$11.20. The company has a debt-to-equity ratio of 62.93, a quick ratio of 0.85 and a current ratio of 1.25.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM last announced its earnings results on Friday, February 23rd. The mining company reported C$0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.15 by C$0.12. Hudbay Minerals had a return on equity of 3.68% and a net margin of 3.93%. The business had revenue of C$819.90 million for the quarter, compared to analysts' expectations of C$710.46 million.

Insider Buying and Selling at Hudbay Minerals

In other news, Senior Officer Mark Zachary Gupta sold 4,915 shares of Hudbay Minerals stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$9.45, for a total value of C$46,446.75. In other news, Senior Officer Luis Alfonso Santivanez Silva sold 19,499 shares of the company's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of C$6.01, for a total transaction of C$117,188.99. Also, Senior Officer Mark Zachary Gupta sold 4,915 shares of the business's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$9.45, for a total value of C$46,446.75. Company insiders own 0.07% of the company's stock.

Hudbay Minerals Announces Dividend

The firm also recently announced a 1 dividend, which was paid on Tuesday, March 5th. Shareholders of record on Friday, March 22nd were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, March 22nd. This represents a yield of 0.13%. Hudbay Minerals's dividend payout ratio is currently 6.67%.

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.