National Bank Financial Weighs in on Hudbay Minerals Inc.’s Q3 2024 Earnings (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Stock analysts at National Bank Financial reduced their Q3 2024 EPS estimates for Hudbay Minerals in a research report issued 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 forecast of $0.03. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.49 per share.

Other equities research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research 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 upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. One research 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 company’s stock. According to MarketBeat.com, Hudbay Minerals has a consensus rating of “Buy” and an average price target of $11.17.

Hudbay Minerals Stock Up 2.7 %

HBM stock opened at $9.20 on Wednesday. Hudbay Minerals has a 12-month low of $3.94 and a 12-month high of $10.49. 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 company has a market cap of $3.62 billion, a price-to-earnings ratio of 39.98 and a beta of 1.77. The company has a 50 day moving average of $8.14 and a two-hundred day moving average of $8.46.

Institutional Trading of Hudbay Minerals

Institutional investors have recently bought and sold shares of the business. Regal Partners Ltd bought a new stake in Hudbay Minerals during the 2nd quarter worth about $22,956,000. Artemis Investment Management LLP bought a new position in Hudbay Minerals in the 3rd quarter valued at about $20,907,000. TD Asset Management Inc boosted its position in shares of Hudbay Minerals by 199.4% during the 2nd quarter. TD Asset Management Inc now owns 2,906,301 shares of the mining company’s stock worth $26,294,000 after acquiring an additional 1,935,709 shares in the last quarter. Galibier Capital Management Ltd. acquired a new stake in shares of Hudbay Minerals in the 1st quarter valued at $12,604,000. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of 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 buying an additional 1,685,836 shares in the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.

Hudbay Minerals Cuts Dividend

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