Q1 2024 EPS Estimates for Hudbay Minerals Inc. (NYSE:HBM) Lowered by Analyst

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Stock analysts at Raymond James cut their Q1 2024 EPS estimates for Hudbay Minerals in a report released on Wednesday, April 17th. Raymond James analyst F. Hamed now anticipates that the mining company will earn $0.07 per share for the quarter, down from their previous estimate of $0.08. Raymond James currently has a “Outperform” rating and a $10.50 target price on the stock. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.44 per share. Raymond James also issued estimates for Hudbay Minerals’ Q3 2024 earnings at $0.04 EPS and FY2024 earnings at $0.28 EPS.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data 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. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The firm had revenue of $602.20 million for the quarter, compared to analyst estimates of $552.74 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. The business’s quarterly revenue was up 87.5% compared to the same quarter last year.

A number of other research firms have also weighed in on HBM. Bank of America upgraded shares of Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a report on Tuesday, April 9th. Stifel Nicolaus assumed coverage on shares of Hudbay Minerals in a report on Tuesday, March 26th. They issued a “buy” rating on the stock. Finally, StockNews.com upgraded shares of 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, the company has an average rating of “Buy” and a consensus target price of $9.75.

Hudbay Minerals Price Performance

Shares of NYSE HBM opened at $7.88 on Friday. The firm’s 50-day moving average price is $6.53 and its 200-day moving average price is $5.48. Hudbay Minerals has a 1-year low of $3.94 and a 1-year high of $8.11. The firm has a market capitalization of $2.77 billion, a P/E ratio of 39.40, a P/E/G ratio of 0.75 and a beta of 1.95. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61.

Hudbay Minerals Cuts Dividend

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

Institutional Investors Weigh In On Hudbay Minerals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Galibier Capital Management Ltd. purchased a new stake in Hudbay Minerals in the 1st quarter valued at about $12,604,000. Register Financial Advisors LLC bought a new position in shares of Hudbay Minerals during the 1st quarter valued at approximately $35,000. Counterpoint Mutual Funds LLC bought a new position in shares of Hudbay Minerals during the 1st quarter valued at approximately $130,000. Ballentine Partners LLC bought a new position in shares of Hudbay Minerals during the 1st quarter valued at approximately $85,000. Finally, Banque Cantonale Vaudoise grew its position in shares of Hudbay Minerals by 38.7% during the 1st 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 during the period. Hedge funds and other institutional investors own 57.82% of the company’s stock.

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.