Hudbay Minerals Inc. (NYSE:HBM) to Post FY2024 Earnings of $0.64 Per Share, Raymond James Forecasts

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Equities research analysts at Raymond James decreased their FY2024 earnings per share estimates for shares of Hudbay Minerals in a note issued to investors on Monday, September 23rd. Raymond James analyst F. Hamed now expects that the mining company will post earnings of $0.64 per share for the year, down from their previous estimate of $0.69. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.52 per share.

Several other research firms also recently issued reports on HBM. Jefferies Financial Group raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, StockNews.com lowered Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Hudbay Minerals has an average rating of “Buy” and a consensus price target of $10.88.

Hudbay Minerals Price Performance

Shares of HBM stock opened at $9.28 on Thursday. The stock’s 50-day simple moving average is $7.76 and its 200-day simple moving average is $8.23. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 40.35 and a beta of 1.77. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.86. Hudbay Minerals has a fifty-two week low of $3.94 and a fifty-two week high of $10.49.

Institutional Trading of Hudbay Minerals

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise grew its holdings in shares of Hudbay Minerals by 38.7% in the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock valued at $45,000 after purchasing an additional 1,806 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Hudbay Minerals by 4.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company’s stock valued at $674,000 after acquiring an additional 2,905 shares during the period. Ballentine Partners LLC lifted its holdings in shares of Hudbay Minerals by 32.7% in the 2nd quarter. Ballentine Partners LLC now owns 16,171 shares of the mining company’s stock worth $146,000 after acquiring an additional 3,983 shares during the last quarter. Register Financial Advisors LLC purchased a new position in shares of Hudbay Minerals during the 1st quarter worth approximately $35,000. Finally, CIBC Asset Management Inc increased its holdings in Hudbay Minerals by 2.1% in the 4th quarter. CIBC Asset Management Inc now owns 351,911 shares of the mining company’s stock valued at $1,942,000 after purchasing an additional 7,161 shares during the last quarter. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Cuts Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 3rd were issued a $0.007 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a yield of 0.2%. Hudbay Minerals’s payout ratio is 4.35%.

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.