Raymond James Comments on Hudbay Minerals Inc.’s Q2 2024 Earnings (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Analysts at Raymond James reduced their Q2 2024 EPS estimates for Hudbay Minerals in a research note issued to investors on Wednesday, April 17th. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.01 for the quarter, down from their previous forecast of $0.09. Raymond James currently has a “Outperform” rating and a $10.50 price target on the stock. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.42 per share. Raymond James also issued estimates for Hudbay Minerals’ Q4 2024 earnings at $0.16 EPS and FY2025 earnings at $0.83 EPS.

A number of other equities research analysts also recently commented on HBM. Bank of America raised shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Tuesday, April 9th. StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. Finally, Stifel Nicolaus began coverage on shares of Hudbay Minerals in a research report on Tuesday, March 26th. They issued a “buy” rating for the company. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $9.75.

Hudbay Minerals Price Performance

Shares of HBM opened at $7.67 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. Hudbay Minerals has a twelve month low of $3.94 and a twelve month high of $8.11. The company has a market capitalization of $2.69 billion, a P/E ratio of 38.35, a price-to-earnings-growth ratio of 0.79 and a beta of 1.95. The firm has a 50 day moving average of $6.63 and a 200 day moving average of $5.54.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Friday, February 23rd. The mining company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $602.20 million during the quarter, compared to the consensus estimate of $552.74 million. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The firm’s quarterly revenue was up 87.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 earnings per share.

Hudbay Minerals Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 5th were given a dividend of $0.0074 per share. This represents a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, March 4th. Hudbay Minerals’s payout ratio is 5.00%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. U S Global Investors Inc. purchased a new position in shares of Hudbay Minerals during the 3rd quarter valued at $29,000. Register Financial Advisors LLC purchased a new stake in Hudbay Minerals in the 1st quarter worth $35,000. Banque Cantonale Vaudoise lifted its stake in Hudbay Minerals by 38.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after purchasing an additional 1,806 shares in the last quarter. Ballentine Partners LLC purchased a new stake in Hudbay Minerals in the 1st quarter worth $85,000. Finally, Bank of Nova Scotia lifted its stake in Hudbay Minerals by 19.1% in the 3rd quarter. Bank of Nova Scotia now owns 24,843 shares of the mining company’s stock worth $121,000 after purchasing an additional 3,979 shares in the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

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.