FY2024 EPS Estimates for Hudbay Minerals Inc. Cut by Analyst (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Research analysts at Stifel Canada lowered their FY2024 earnings per share (EPS) estimates for shares of Hudbay Minerals in a note issued to investors on Thursday, August 22nd. Stifel Canada analyst C. Mcgill now forecasts that the mining company will post earnings per share of $0.65 for the year, down from their prior forecast of $0.72. Stifel Canada has a “Strong-Buy” rating on the stock. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.59 per share. Stifel Canada also issued estimates for Hudbay Minerals’ FY2025 earnings at $1.13 EPS, FY2026 earnings at $0.91 EPS and FY2027 earnings at $0.92 EPS.

HBM has been the topic of several other reports. National Bank Financial raised shares of Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 14th. 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, StockNews.com downgraded 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, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $10.75.

Hudbay Minerals Stock Performance

Hudbay Minerals stock opened at $8.17 on Monday. Hudbay Minerals has a 52 week low of $3.94 and a 52 week high of $10.49. The company has a current ratio of 1.40, a quick ratio of 1.00 and a debt-to-equity ratio of 0.61. The stock has a market cap of $3.22 billion, a P/E ratio of 35.52 and a beta of 1.83. The stock has a 50 day moving average of $8.37 and a 200-day moving average of $7.87.

Hedge Funds Weigh In On Hudbay Minerals

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its position in Hudbay Minerals by 122,794.2% during the 4th quarter. BNP Paribas Financial Markets now owns 126,581 shares of the mining company’s stock valued at $699,000 after purchasing an additional 126,478 shares during the period. Galibier Capital Management Ltd. acquired a new stake in shares of Hudbay Minerals in the 1st quarter worth about $12,604,000. Vanguard Group Inc. lifted its position in Hudbay Minerals by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock valued at $60,861,000 after purchasing an additional 272,635 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Hudbay Minerals by 88.8% during the 1st quarter. Russell Investments Group Ltd. now owns 281,015 shares of the mining company’s stock valued at $1,969,000 after purchasing an additional 132,142 shares during the period. Finally, Boston Partners grew its position in Hudbay Minerals by 29.1% in the 1st quarter. Boston Partners now owns 552,226 shares of the mining company’s stock worth $3,866,000 after purchasing an additional 124,376 shares during the last quarter. 57.82% of the stock is owned by institutional investors.

Hudbay Minerals Cuts Dividend

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

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.