Raymond James Weighs in on Hudbay Minerals Inc.’s FY2024 Earnings (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Raymond James reduced 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 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.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a 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 lowered shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. One analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Hudbay Minerals has an average rating of “Buy” and a consensus target price of $10.88.

Hudbay Minerals Trading Up 7.7 %

Shares of NYSE:HBM opened at $9.43 on Thursday. The business’s 50-day moving average is $7.73 and its 200 day moving average is $8.21. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.86 and a quick ratio of 1.49. Hudbay Minerals has a 1 year low of $3.94 and a 1 year high of $10.49. The firm has a market capitalization of $3.71 billion, a P/E ratio of 40.98 and a beta of 1.77.

Institutional Investors Weigh In On Hudbay Minerals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC purchased a new stake in shares of Hudbay Minerals in the first quarter worth about $35,000. Banque Cantonale Vaudoise lifted its holdings in 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 acquiring an additional 1,806 shares during the period. Ballentine Partners LLC purchased a new stake in Hudbay Minerals in the 1st quarter worth approximately $85,000. Ritholtz Wealth Management acquired a new stake in shares of Hudbay Minerals during the 2nd quarter worth approximately $96,000. Finally, Armistice Capital LLC purchased a new position in shares of Hudbay Minerals during the 2nd quarter valued at approximately $97,000. 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. Investors 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 yield of 0.2%. Hudbay Minerals’s dividend payout ratio 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.