Raymond James Lowers Earnings Estimates for Hudbay Minerals

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Raymond James reduced their Q3 2024 earnings per share estimates for shares of Hudbay Minerals in a report released on Wednesday, October 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will earn $0.06 per share for the quarter, down from their previous estimate of $0.12. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.49 per share. Raymond James also issued estimates for Hudbay Minerals’ Q4 2024 earnings at $0.28 EPS.

Several other equities analysts have also recently commented on HBM. Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Stifel Canada upgraded Hudbay Minerals to a “strong-buy” rating in a research report on Monday, July 22nd. Finally, StockNews.com downgraded 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 issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $11.17.

Hudbay Minerals Trading Up 0.9 %

NYSE HBM opened at $9.62 on Monday. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 41.83 and a beta of 1.77. 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 12 month low of $3.94 and a 12 month high of $10.49. The company’s fifty day moving average price is $8.42 and its two-hundred day moving average price is $8.56.

Institutional Investors Weigh In On Hudbay Minerals

A number of hedge funds have recently added to or reduced their stakes in HBM. Exchange Traded Concepts LLC acquired a new stake in shares of Hudbay Minerals in the 3rd quarter worth about $53,000. Clear Harbor Asset Management LLC acquired a new stake in shares of Hudbay Minerals in the third quarter valued at approximately $92,000. Ritholtz Wealth Management bought a new stake in shares of Hudbay Minerals during the second quarter valued at approximately $96,000. Armistice Capital LLC acquired a new position in shares of Hudbay Minerals during the second quarter worth approximately $97,000. Finally, Liontrust Investment Partners LLP bought a new position in Hudbay Minerals in the 2nd quarter worth approximately $100,000. 57.82% of the stock is currently owned by institutional investors.

Hudbay Minerals Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Friday, September 20th. Investors 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 yield of 0.2%. Hudbay Minerals’s 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.