Raymond James Forecasts Reduced Earnings for Hudbay Minerals

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) – Research analysts at Raymond James cut their Q3 2024 earnings per share estimates for Hudbay Minerals in a research report issued to clients and investors on Wednesday, October 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.08 for the quarter, down from their previous forecast of $0.16. The consensus estimate for Hudbay Minerals’ current full-year earnings is $1.12 per share. Raymond James also issued estimates for Hudbay Minerals’ Q4 2024 earnings at $0.39 EPS.

Other research analysts have also recently issued research reports about the stock. Canaccord Genuity Group lowered their target price on shares of Hudbay Minerals from C$16.00 to C$15.00 in a research note on Monday, July 22nd. Scotiabank upped their price objective on Hudbay Minerals from C$14.50 to C$15.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. National Bankshares lifted their target price on Hudbay Minerals from C$15.50 to C$16.75 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Eight Capital upped their price target on Hudbay Minerals from C$14.50 to C$18.00 in a research note on Thursday, July 11th. Finally, Jefferies Financial Group raised their target price on shares of Hudbay Minerals from C$14.00 to C$15.00 in a research note on Friday, October 4th. Twelve research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$15.54.

Hudbay Minerals Price Performance

Shares of TSE:HBM opened at C$13.37 on Monday. The firm’s 50 day simple moving average is C$11.44 and its two-hundred day simple moving average is C$11.70. The company has a debt-to-equity ratio of 49.37, a current ratio of 1.87 and a quick ratio of 0.85. The company has a market capitalization of C$5.26 billion, a P/E ratio of 36.14, a P/E/G ratio of 3.97 and a beta of 1.83. Hudbay Minerals has a 1-year low of C$5.46 and a 1-year high of C$14.33.

Hudbay Minerals Announces Dividend

The company also recently disclosed a 1 dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, September 20th were given a dividend of $0.02 per share. This represents a yield of 0.09%. The ex-dividend date was Friday, September 20th. Hudbay Minerals’s dividend payout ratio (DPR) is 5.41%.

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.