Q3 2024 Earnings Estimate for Hudbay Minerals Inc. Issued By Stifel Canada (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Stifel Canada reduced their Q3 2024 earnings per share estimates for Hudbay Minerals in a research note issued on Tuesday, October 15th. Stifel Canada analyst C. Mcgill now expects that the mining company will post earnings of $0.07 per share for the quarter, down from their prior estimate of $0.13. Stifel Canada currently has a “Strong-Buy” rating on the stock. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.49 per share. Stifel Canada also issued estimates for Hudbay Minerals’ FY2024 earnings at $0.61 EPS.

Other analysts have also issued reports about the stock. Jefferies Financial Group raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. StockNews.com lowered shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $11.17.

Hudbay Minerals Trading Up 2.7 %

Shares of NYSE HBM opened at $9.20 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. Hudbay Minerals has a one year low of $3.94 and a one year high of $10.49. The business has a 50-day moving average price of $8.14 and a two-hundred day moving average price of $8.46. The firm has a market capitalization of $3.62 billion, a PE ratio of 39.98 and a beta of 1.77.

Hudbay Minerals Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.007 per share. The ex-dividend date was Tuesday, September 3rd. This represents a dividend yield of 0.2%. Hudbay Minerals’s dividend payout ratio is 4.35%.

Institutional Investors Weigh In On Hudbay Minerals

Several large investors have recently made changes to their positions in the company. Galibier Capital Management Ltd. bought a new position in Hudbay Minerals during the first quarter valued at approximately $12,604,000. Vanguard Group Inc. increased its stake in shares of Hudbay Minerals by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 8,694,436 shares of the mining company’s stock worth $60,861,000 after purchasing an additional 272,635 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Hudbay Minerals by 46.3% during the 1st quarter. BNP Paribas Financial Markets now owns 185,166 shares of the mining company’s stock valued at $1,296,000 after purchasing an additional 58,585 shares in the last quarter. Boston Partners raised its holdings in shares of Hudbay Minerals by 29.1% during the 1st quarter. Boston Partners now owns 552,226 shares of the mining company’s stock valued at $3,866,000 after purchasing an additional 124,376 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Hudbay Minerals by 88.8% in the 1st quarter. Russell Investments Group Ltd. now owns 281,015 shares of the mining company’s stock valued at $1,969,000 after purchasing an additional 132,142 shares during the last quarter. Institutional investors own 57.82% of the company’s stock.

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.