Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) – Analysts at Raymond James raised their Q1 2020 EPS estimates for Hudbay Minerals in a research note issued on Tuesday, November 12th. Raymond James analyst F. Hamed now expects that the mining company will post earnings per share of $0.10 for the quarter, up from their prior estimate of $0.06. Raymond James also issued estimates for Hudbay Minerals’ Q2 2020 earnings at $0.08 EPS, Q3 2020 earnings at $0.08 EPS, Q4 2020 earnings at $0.08 EPS, FY2020 earnings at $0.33 EPS and FY2021 earnings at $0.24 EPS.
Several other equities research analysts also recently weighed in on HBM. Scotiabank downgraded shares of Hudbay Minerals from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, November 12th. Zacks Investment Research raised shares of Hudbay Minerals from a “strong sell” rating to a “hold” rating in a research note on Friday, October 18th. Barclays reissued an “average” rating and issued a $8.00 target price on shares of Hudbay Minerals in a research note on Sunday, August 4th. CIBC reaffirmed a “hold” rating and issued a $5.00 price target on shares of Hudbay Minerals in a research note on Friday, September 6th. Finally, Credit Suisse Group reduced their price target on shares of Hudbay Minerals from $11.50 to $8.75 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.55.
Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Monday, November 11th. The mining company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.02). Hudbay Minerals had a negative net margin of 27.35% and a negative return on equity of 0.71%. The firm had revenue of $291.28 million during the quarter, compared to analysts’ expectations of $295.75 million. During the same period in the prior year, the company posted $0.09 EPS. The company’s revenue was down 19.7% compared to the same quarter last year.
Hedge funds have recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. boosted its stake in Hudbay Minerals by 63.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 687,236 shares of the mining company’s stock worth $3,722,000 after purchasing an additional 268,000 shares in the last quarter. Acadian Asset Management LLC lifted its position in Hudbay Minerals by 29.2% in the second quarter. Acadian Asset Management LLC now owns 765,590 shares of the mining company’s stock valued at $4,153,000 after buying an additional 173,090 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Hudbay Minerals in the second quarter valued at about $162,000. Letko Brosseau & Associates Inc. lifted its position in Hudbay Minerals by 7.1% in the third quarter. Letko Brosseau & Associates Inc. now owns 37,994,123 shares of the mining company’s stock valued at $137,169,000 after buying an additional 2,528,250 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Hudbay Minerals by 2.2% in the second quarter. Vanguard Group Inc. now owns 6,371,000 shares of the mining company’s stock valued at $34,468,000 after buying an additional 137,274 shares during the last quarter. 63.99% of the stock is currently owned by institutional investors.
Hudbay Minerals Company Profile
Hudbay Minerals Inc, an integrated mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.
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