Q3 EPS Estimate for Hudbay Minerals Decreased by Analyst

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

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

Hudbay Minerals Trading Up 0.3 %

NYSE HBM opened at $9.21 on Wednesday. Hudbay Minerals has a one year low of $3.94 and a one year high of $10.49. The company’s 50 day moving average price is $8.18 and its 200 day moving average price is $8.46. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.86. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 40.04 and a beta of 1.77.

Institutional Trading of Hudbay Minerals

A number of hedge funds have recently made changes to their positions in the company. Vontobel Holding Ltd. raised its stake in shares of Hudbay Minerals by 22.3% during the third quarter. Vontobel Holding Ltd. now owns 200,838 shares of the mining company’s stock valued at $1,847,000 after purchasing an additional 36,657 shares during the period. Creative Planning raised its stake in shares of Hudbay Minerals by 37.1% during the third quarter. Creative Planning now owns 29,142 shares of the mining company’s stock valued at $268,000 after purchasing an additional 7,881 shares during the period. Oliver Luxxe Assets LLC purchased a new stake in shares of Hudbay Minerals during the third quarter valued at approximately $1,187,000. Exchange Traded Concepts LLC purchased a new stake in shares of Hudbay Minerals during the third quarter valued at approximately $53,000. Finally, First Affirmative Financial Network purchased a new stake in shares of Hudbay Minerals during the third quarter valued at approximately $103,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.

Hudbay Minerals Cuts Dividend

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