Hudbay Minerals Inc. Expected to Post Q3 2024 Earnings of $0.01 Per Share (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Investment analysts at National Bank Financial reduced their Q3 2024 earnings per share (EPS) estimates for shares of Hudbay Minerals in a note issued to investors on Monday, October 14th. National Bank Financial analyst S. Nagle now expects that the mining company will post earnings of $0.01 per share for the quarter, down from their previous forecast of $0.03. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.49 per share.

Several other research firms have also recently commented on HBM. StockNews.com cut shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Finally, Stifel Canada raised Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Stock Down 2.0 %

HBM stock opened at $8.95 on Wednesday. The company’s 50 day moving average price is $8.09 and its 200 day moving average price is $8.45. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 38.91 and a beta of 1.77. Hudbay Minerals has a fifty-two week low of $3.94 and a fifty-two week high of $10.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.86.

Institutional Trading of Hudbay Minerals

A number of hedge funds have recently added to or reduced their stakes in the stock. Regal Partners Ltd acquired a new position in shares of Hudbay Minerals during the 2nd quarter worth $22,956,000. Artemis Investment Management LLP purchased a new position in shares of Hudbay Minerals in the 3rd quarter worth $20,907,000. TD Asset Management Inc raised its holdings in shares of Hudbay Minerals by 199.4% in the 2nd quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock worth $26,294,000 after purchasing an additional 1,935,709 shares during the period. Galibier Capital Management Ltd. acquired a new position in Hudbay Minerals during the first quarter valued at approximately $12,604,000. Finally, Cubist Systematic Strategies LLC boosted its position in Hudbay Minerals by 2,521.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,752,685 shares of the mining company’s stock worth $15,861,000 after purchasing an additional 1,685,836 shares during the period. 57.82% of the stock is owned by institutional investors and hedge funds.

Hudbay Minerals Cuts Dividend

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