Raymond James Weighs in on Hudbay Minerals Inc.’s Q1 2024 Earnings (TSE:HBM)

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) – Raymond James lowered their Q1 2024 earnings per share estimates for shares of Hudbay Minerals in a research report issued on Wednesday, April 17th. Raymond James analyst F. Hamed now forecasts that the mining company will earn $0.10 per share for the quarter, down from their prior estimate of $0.11. Raymond James currently has a “Outperform” rating and a $11.50 target price on the stock. The consensus estimate for Hudbay Minerals’ current full-year earnings is $0.68 per share. Raymond James also issued estimates for Hudbay Minerals’ Q3 2024 earnings at $0.06 EPS and FY2024 earnings at $0.39 EPS.

A number of other analysts also recently weighed in on the stock. CIBC increased their price target on shares of Hudbay Minerals from C$11.00 to C$13.00 and gave the company an “outperform” rating in a research report on Wednesday. Stifel Nicolaus set a C$11.25 price target on shares of Hudbay Minerals and gave the company a “buy” rating in a report on Tuesday, March 26th. BMO Capital Markets lowered their price target on Hudbay Minerals from C$9.50 to C$8.50 and set an “outperform” rating for the company in a report on Friday, December 22nd. Canaccord Genuity Group raised their price target on Hudbay Minerals from C$10.50 to C$13.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Bank of America increased their target price on Hudbay Minerals from C$8.50 to C$12.25 in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$10.48.

Hudbay Minerals Trading Up 3.5 %

TSE:HBM opened at C$10.85 on Friday. The firm has a market capitalization of C$3.81 billion, a price-to-earnings ratio of 36.17, a PEG ratio of 3.97 and a beta of 1.96. Hudbay Minerals has a 1-year low of C$5.46 and a 1-year high of C$11.05. The business’s 50-day moving average price is C$8.86 and its two-hundred day moving average price is C$7.43. The company has a current ratio of 1.25, a quick ratio of 0.85 and a debt-to-equity ratio of 62.93.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its quarterly earnings data on Friday, February 23rd. The mining company reported C$0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.15 by C$0.12. Hudbay Minerals had a net margin of 3.93% and a return on equity of 3.68%. The firm had revenue of C$819.90 million for the quarter, compared to analysts’ expectations of C$710.46 million.

Insider Activity

In other news, Senior Officer Mark Zachary Gupta sold 4,915 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$9.45, for a total value of C$46,446.75. In other Hudbay Minerals news, Senior Officer Mark Zachary Gupta sold 4,915 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$9.45, for a total transaction of C$46,446.75. Also, Senior Officer Luis Alfonso Santivanez Silva sold 19,499 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of C$6.01, for a total transaction of C$117,188.99. Insiders own 0.07% of the company’s stock.

Hudbay Minerals Announces Dividend

The company also recently declared a 1 dividend, which was paid on Tuesday, March 5th. Shareholders of record on Friday, March 22nd were paid a $0.02 dividend. This represents a yield of 0.13%. The ex-dividend date of this dividend was Friday, March 22nd. Hudbay Minerals’s dividend payout ratio is currently 6.67%.

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.