Raymond James Equities Analysts Cut Earnings Estimates for Hudbay Minerals Inc. (TSE:HBM)

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) – Stock analysts at Raymond James dropped their Q1 2024 earnings per share estimates for shares of Hudbay Minerals in a research report issued on Wednesday, April 17th. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings per share of $0.10 for the quarter, down from their prior forecast of $0.11. Raymond James currently has a “Outperform” rating and a $11.50 price objective on the stock. 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 $0.06 EPS and FY2024 earnings at $0.39 EPS.

HBM has been the subject of a number of other reports. Scotiabank raised their price objective on Hudbay Minerals from C$10.50 to C$11.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Stifel Nicolaus set a C$11.25 target price on Hudbay Minerals and gave the stock a “buy” rating in a research note on Tuesday, March 26th. CIBC raised their target price on Hudbay Minerals from C$11.00 to C$13.00 and gave the company an “outperform” rating in a report on Wednesday. National Bankshares boosted their price target on shares of Hudbay Minerals from C$8.50 to C$8.75 and gave the stock a “sector perform” rating in a research note on Monday, February 26th. Finally, BMO Capital Markets dropped their price objective on shares of Hudbay Minerals from C$9.50 to C$8.50 and set an “outperform” rating for the company in a report on Friday, December 22nd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$10.48.

Hudbay Minerals Price Performance

HBM stock opened at C$10.85 on Friday. Hudbay Minerals has a 52-week low of C$5.46 and a 52-week high of C$11.05. The company has a quick ratio of 0.85, a current ratio of 1.25 and a debt-to-equity ratio of 62.93. The stock has a market cap of C$3.81 billion, a price-to-earnings ratio of 36.17, a price-to-earnings-growth ratio of 3.97 and a beta of 1.96. The business has a fifty day moving average of C$8.86 and a two-hundred day moving average of C$7.43.

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

Insider Activity at Hudbay Minerals

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

Hudbay Minerals Dividend Announcement

The business also recently declared a 1 dividend, which was paid on Tuesday, March 5th. Investors of record on Friday, March 22nd were given a $0.02 dividend. The ex-dividend date was Friday, March 22nd. This represents a yield of 0.13%. Hudbay Minerals’s dividend payout ratio (DPR) is presently 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.