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

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Research analysts at Paradigm Capital reduced their Q1 2024 EPS estimates for shares of Hudbay Minerals in a 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 estimate of $0.12. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.40 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.

A number of other equities research analysts have also recently issued reports on the company. Raymond James raised their target price on Hudbay Minerals from $9.00 to $10.50 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Bank of America raised Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a report on Tuesday, April 9th. StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, March 29th. Finally, Stifel Nicolaus initiated coverage on Hudbay Minerals in a report on Tuesday, March 26th. They set a “buy” rating on the stock. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $9.75.

Hudbay Minerals Stock Performance

HBM stock opened at $8.13 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.87 and a current ratio of 1.25. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 0.82 and a beta of 1.95. Hudbay Minerals has a 1 year low of $3.94 and a 1 year high of $8.18. The stock’s fifty day moving average is $6.79 and its two-hundred day moving average is $5.60.

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

Hedge Funds Weigh In On Hudbay Minerals

A number of institutional investors have recently bought and sold shares of HBM. Galibier Capital Management Ltd. increased its stake in Hudbay Minerals by 43.5% in the 3rd quarter. Galibier Capital Management Ltd. now owns 516,942 shares of the mining company’s stock worth $2,527,000 after purchasing an additional 156,700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Hudbay Minerals by 23.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,986 shares of the mining company’s stock valued at $327,000 after acquiring an additional 12,748 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Hudbay Minerals by 6.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,290,344 shares of the mining company’s stock valued at $35,643,000 after acquiring an additional 467,872 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Hudbay Minerals by 9.0% in the 3rd quarter. TD Asset Management Inc now owns 953,290 shares of the mining company’s stock valued at $4,661,000 after acquiring an additional 78,493 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in Hudbay Minerals by 60.3% in the 3rd quarter. CIBC Asset Management Inc now owns 344,750 shares of the mining company’s stock worth $1,683,000 after buying an additional 129,733 shares during the period. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Cuts Dividend

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

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.