National Bank Financial Equities Analysts Decrease Earnings Estimates for Hudbay Minerals Inc. (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Research analysts at National Bank Financial decreased their Q3 2024 earnings per share (EPS) estimates for shares of Hudbay Minerals in a note issued to investors on Monday, October 14th. National Bank Financial analyst S. Nagle now anticipates that the mining company will earn $0.01 per share for the quarter, down from their previous forecast of $0.03. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.49 per share.

Several other equities analysts have also weighed in on the stock. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. StockNews.com cut Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, Jefferies Financial Group raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. One equities 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 presently has a consensus rating of “Buy” and a consensus price target of $11.17.

Hudbay Minerals Trading Down 2.0 %

Shares of HBM opened at $8.95 on Wednesday. Hudbay Minerals has a 12-month low of $3.94 and a 12-month high of $10.49. The firm has a market capitalization of $3.52 billion, a P/E ratio of 38.91 and a beta of 1.77. The firm has a 50-day moving average price of $8.09 and a 200 day moving average price of $8.45. 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 Cuts Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 3rd were issued a $0.007 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a yield of 0.2%. Hudbay Minerals’s dividend payout ratio (DPR) is presently 4.35%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Register Financial Advisors LLC purchased a new stake in shares of Hudbay Minerals in the 1st quarter valued at $35,000. Banque Cantonale Vaudoise increased its stake in Hudbay Minerals by 38.7% during the first quarter. Banque Cantonale Vaudoise now owns 6,471 shares of the mining company’s stock worth $45,000 after purchasing an additional 1,806 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Hudbay Minerals during the third quarter worth about $53,000. Ballentine Partners LLC acquired a new stake in shares of Hudbay Minerals during the first quarter worth about $85,000. Finally, Ritholtz Wealth Management purchased a new position in shares of Hudbay Minerals in the second quarter valued at approximately $96,000. 57.82% of the stock is currently owned by institutional investors and hedge funds.

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.