Raymond James Comments on Hudbay Minerals Inc.’s Q1 2024 Earnings (TSE:HBM)

Hudbay Minerals Inc. (TSE:HBMFree Report) (NYSE:HBM) – Equities researchers at Raymond James decreased their Q1 2024 earnings per share (EPS) estimates for Hudbay Minerals in a note issued to investors on Tuesday, March 19th. Raymond James analyst F. Hamed now forecasts that the mining company will earn $0.11 per share for the quarter, down from their prior estimate of $0.18. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.71 per share. Raymond James also issued estimates for Hudbay Minerals’ Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.14 EPS and Q4 2024 earnings at $0.15 EPS.

Hudbay Minerals (TSE:HBMGet Free Report) (NYSE:HBM) last posted its quarterly earnings data on Friday, February 23rd. The mining company reported C$0.27 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.15 by C$0.12. The business had revenue of C$819.90 million for the quarter, compared to analyst estimates of C$710.46 million. Hudbay Minerals had a return on equity of 3.68% and a net margin of 3.93%.

A number of other research analysts have also recently issued reports on the stock. National Bankshares increased their target price on shares of Hudbay Minerals from C$8.50 to C$8.75 and gave the company a “sector perform” rating in a report on Monday, February 26th. TD Securities lifted their price target on shares of Hudbay Minerals from C$10.00 to C$10.50 and gave the company a “buy” rating in a report on Friday, December 8th. Scotiabank raised their target price on shares of Hudbay Minerals from C$10.50 to C$11.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Bank of America raised their target price on shares of Hudbay Minerals from C$6.75 to C$8.50 in a research note on Tuesday, January 2nd. Finally, CIBC boosted their price objective on shares of Hudbay Minerals from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Hudbay Minerals presently has a consensus rating of “Moderate Buy” and a consensus target price of C$9.50.

Check Out Our Latest Research Report on HBM

Hudbay Minerals Stock Performance

TSE HBM opened at C$9.34 on Thursday. The company has a debt-to-equity ratio of 62.93, a current ratio of 1.25 and a quick ratio of 0.85. Hudbay Minerals has a 1 year low of C$5.46 and a 1 year high of C$9.50. The company has a market capitalization of C$3.28 billion, a PE ratio of 31.13, a P/E/G ratio of 3.97 and a beta of 1.96. The company has a fifty day moving average of C$7.83 and a two-hundred day moving average of C$6.96.

Insider Buying and Selling at Hudbay Minerals

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

Hudbay Minerals Announces Dividend

The company also recently declared a 1 dividend, which was paid on Tuesday, March 5th. Investors of record on Friday, March 22nd were issued a dividend of $0.02 per share. This represents a yield of 0.13%. The ex-dividend date of this dividend was Friday, March 22nd. Hudbay Minerals’s dividend payout ratio is currently 6.67%.

About Hudbay Minerals

(Get Free Report)

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.

See Also

Earnings History and Estimates for Hudbay Minerals (TSE:HBM)

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