Analysts Offer Predictions for Hudbay Minerals Inc.’s Q4 2024 Earnings (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Equities research analysts at Raymond James increased their Q4 2024 EPS estimates for Hudbay Minerals in a report released on Monday, April 22nd. Raymond James analyst F. Hamed now expects that the mining company will post earnings of $0.24 per share for the quarter, up from their prior forecast of $0.16. Raymond James has a “Outperform” rating and a $10.50 price objective on the stock. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.44 per share.

Several other research firms also recently weighed in on HBM. Bank of America upgraded Hudbay Minerals from a “neutral” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Tuesday, April 9th. Stifel Nicolaus started coverage on shares of Hudbay Minerals in a research note on Tuesday, March 26th. They issued a “buy” rating on the stock. Finally, StockNews.com upgraded Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, March 29th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $9.75.

Hudbay Minerals Price Performance

Shares of HBM stock opened at $7.73 on Wednesday. The stock has a 50 day moving average price of $6.68 and a 200 day moving average price of $5.57. Hudbay Minerals has a 52-week low of $3.94 and a 52-week high of $8.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.87 and a current ratio of 1.25. The firm has a market capitalization of $2.71 billion, a P/E ratio of 38.63, a P/E/G ratio of 0.75 and a beta of 1.95.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings data on Friday, February 23rd. The mining company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Hudbay Minerals had a net margin of 3.95% and a return on equity of 3.86%. The company had revenue of $602.20 million for the quarter, compared to analyst estimates of $552.74 million. During the same period in the prior year, the company posted $0.01 EPS. The firm’s revenue for the quarter was up 87.5% on a year-over-year basis.

Hudbay Minerals Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 5th were given a dividend of $0.0074 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a yield of 0.3%. Hudbay Minerals’s dividend payout ratio (DPR) is presently 5.00%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Letko Brosseau & Associates Inc. raised its holdings in Hudbay Minerals by 0.7% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 16,569,958 shares of the mining company’s stock worth $91,609,000 after purchasing an additional 114,266 shares in the last quarter. L1 Capital Pty Ltd lifted its position in Hudbay Minerals by 15.1% during the third quarter. L1 Capital Pty Ltd now owns 16,299,356 shares of the mining company’s stock valued at $79,378,000 after acquiring an additional 2,141,437 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Hudbay Minerals by 28.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,375,985 shares of the mining company’s stock valued at $51,836,000 after acquiring an additional 2,085,641 shares in the last quarter. Invesco Ltd. increased its position in shares of Hudbay Minerals by 60.2% during the third quarter. Invesco Ltd. now owns 6,998,581 shares of the mining company’s stock worth $34,083,000 after purchasing an additional 2,630,780 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Hudbay Minerals by 33.8% during the 4th quarter. Mackenzie Financial Corp now owns 5,014,948 shares of the mining company’s stock valued at $27,604,000 after purchasing an additional 1,266,717 shares during the last quarter. 57.82% of the stock is owned by institutional investors.

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.