Q2 2024 EPS Estimates for Hudbay Minerals Inc. Lowered by Raymond James (TSE:HBM)

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) – Research analysts at Raymond James cut their Q2 2024 earnings per share estimates for Hudbay Minerals in a research report issued to clients and 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 $0.12. Raymond James currently has a “Outperform” rating and a $11.50 target price 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’ Q4 2024 earnings at $0.22 EPS and FY2025 earnings at $1.15 EPS.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its quarterly earnings data on Friday, February 23rd. The mining company reported C$0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.15 by C$0.12. The firm 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%.

Several other research firms have also recently issued reports on HBM. National Bankshares lifted their price objective on shares of Hudbay Minerals from C$8.50 to C$8.75 and gave the company a “sector perform” rating in a research report on Monday, February 26th. CIBC upped their price target on shares of Hudbay Minerals from C$11.00 to C$13.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Scotiabank upped 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 report on Tuesday, February 6th. Canaccord Genuity Group raised their price target on Hudbay Minerals from C$10.50 to C$13.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, Bank of America raised their target price on shares of Hudbay Minerals from C$8.50 to C$12.25 in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$10.85.

Hudbay Minerals Stock Performance

TSE HBM opened at C$10.55 on Monday. The business has a 50-day moving average price of C$9.08 and a 200-day moving average price of C$7.54. The firm has a market cap of C$3.70 billion, a price-to-earnings ratio of 35.17, a price-to-earnings-growth ratio of 3.97 and a beta of 1.96. Hudbay Minerals has a twelve month low of C$5.46 and a twelve month 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.

Insider Transactions at Hudbay Minerals

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

Hudbay Minerals Dividend Announcement

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

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.