Paradigm Capital Comments on Hudbay Minerals Inc.’s Q1 2024 Earnings (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Research analysts at Paradigm Capital decreased their Q1 2024 earnings per share (EPS) estimates for shares of Hudbay Minerals in a research report issued on Tuesday, April 23rd. Paradigm Capital analyst J. Woolley now forecasts that the mining company will earn $0.07 per share for the quarter, down from their prior forecast of $0.12. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.41 per share. Paradigm Capital also issued estimates for Hudbay Minerals’ Q2 2024 earnings at $0.05 EPS, Q3 2024 earnings at $0.08 EPS, Q4 2024 earnings at $0.10 EPS, Q3 2025 earnings at $0.19 EPS and FY2025 earnings at $0.82 EPS.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $602.20 million during the quarter, compared to the consensus estimate of $552.74 million. Hudbay Minerals had a return on equity of 3.86% and a net margin of 3.95%. The business’s revenue for the quarter was up 87.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 EPS.

A number of other research firms also recently commented on HBM. Bank of America upgraded Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Tuesday, April 9th. Raymond James increased their price target on Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Stifel Nicolaus assumed coverage on Hudbay Minerals in a report on Tuesday, March 26th. They issued a “buy” rating for the company. Finally, StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, March 29th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Hudbay Minerals has a consensus rating of “Buy” and an average price target of $9.75.

Hudbay Minerals Trading Up 6.3 %

HBM stock opened at $8.63 on Friday. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 43.15, a PEG ratio of 0.86 and a beta of 1.95. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $6.85 and a 200-day simple moving average of $5.63. Hudbay Minerals has a 52 week low of $3.94 and a 52 week high of $8.65.

Hudbay Minerals Cuts Dividend

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

Institutional Trading of Hudbay Minerals

Large investors have recently modified their holdings of the business. Register Financial Advisors LLC acquired a new stake in shares of Hudbay Minerals during the first quarter valued at about $35,000. Banque Cantonale Vaudoise grew its stake in shares of Hudbay Minerals by 38.7% during the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after acquiring an additional 1,806 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Hudbay Minerals during the first quarter valued at about $85,000. Bank of Nova Scotia lifted its position in shares of Hudbay Minerals by 19.1% during the third 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 during the last quarter. Finally, Shell Asset Management Co. lifted its position in shares of Hudbay Minerals by 38.6% during the third quarter. Shell Asset Management Co. now owns 26,189 shares of the mining company’s stock worth $128,000 after purchasing an additional 7,300 shares during the last quarter. 57.82% of the stock is currently owned by institutional investors and hedge funds.

About Hudbay Minerals

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.