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

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

HBM has been the subject of a number of other research reports. Jefferies Financial Group upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. Finally, StockNews.com cut shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. One equities research 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $10.88.

Hudbay Minerals Trading Down 1.7 %

Hudbay Minerals stock opened at $9.28 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.86 and a quick ratio of 1.49. The stock has a market capitalization of $3.65 billion, a PE ratio of 40.35 and a beta of 1.77. The business’s fifty day moving average is $7.76 and its 200 day moving average is $8.23. Hudbay Minerals has a one year low of $3.94 and a one year high of $10.49.

Hudbay Minerals Cuts Dividend

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

Institutional Investors Weigh In On Hudbay Minerals

Several institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in Hudbay Minerals by 122,794.2% during the fourth quarter. BNP Paribas Financial Markets now owns 126,581 shares of the mining company’s stock valued at $699,000 after acquiring an additional 126,478 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Hudbay Minerals in the fourth quarter valued at $186,000. TD Asset Management Inc increased its position in Hudbay Minerals by 2.8% in the fourth quarter. TD Asset Management Inc now owns 979,801 shares of the mining company’s stock worth $5,417,000 after purchasing an additional 26,511 shares during the last quarter. Letko Brosseau & Associates Inc. raised its stake in Hudbay Minerals by 0.7% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 16,569,958 shares of the mining company’s stock valued at $91,609,000 after purchasing an additional 114,266 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in Hudbay Minerals by 2.1% during the fourth 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. 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.