Hudbay Minerals FY2024 EPS Estimate Reduced by Raymond James

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Stock analysts at Raymond James lowered their FY2024 EPS estimates for shares of Hudbay Minerals in a report issued on Wednesday, October 23rd. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings per share of $0.51 for the year, down from their prior estimate of $0.64. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.49 per share.

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

Hudbay Minerals Trading Up 0.9 %

Shares of NYSE:HBM opened at $9.62 on Friday. Hudbay Minerals has a 12-month low of $3.94 and a 12-month high of $10.49. The business has a 50 day moving average of $8.42 and a 200-day moving average of $8.56. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.47. The stock has a market cap of $3.79 billion, a PE ratio of 41.83 and a beta of 1.77.

Institutional Investors Weigh In On Hudbay Minerals

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Hudbay Minerals by 3.2% during the first quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock worth $60,861,000 after buying an additional 272,635 shares in the last quarter. Condire Management LP increased its stake in shares of Hudbay Minerals by 4.2% in the first quarter. Condire Management LP now owns 4,226,553 shares of the mining company’s stock valued at $29,586,000 after buying an additional 169,310 shares during the period. Donald Smith & CO. Inc. boosted its position in Hudbay Minerals by 31.9% during the 3rd quarter. Donald Smith & CO. Inc. now owns 3,748,780 shares of the mining company’s stock worth $34,451,000 after buying an additional 906,417 shares during the period. Dimensional Fund Advisors LP grew its holdings in Hudbay Minerals by 24.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,545,340 shares of the mining company’s stock worth $32,084,000 after acquiring an additional 702,170 shares during the last quarter. Finally, TD Asset Management Inc increased its position in 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 valued at $26,294,000 after acquiring an additional 1,935,709 shares during the period. Institutional investors and hedge funds own 57.82% of the company’s stock.

Hudbay Minerals Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.007 per share. This represents a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, September 3rd. 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.