Equities Analysts Set Expectations for Hudbay Minerals Inc.’s Q2 2024 Earnings (TSE:HBM)

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) – Investment analysts at Raymond James upped their Q2 2024 earnings per share estimates for shares of Hudbay Minerals in a research report issued to clients and investors on Monday, April 22nd. Raymond James analyst F. Hamed now expects that the mining company will post earnings of $0.11 per share for the quarter, up from their prior forecast of $0.01. 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 $0.14 EPS, Q4 2024 earnings at $0.33 EPS and FY2024 earnings at $0.67 EPS.

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

A number of other research analysts also recently weighed in on HBM. Canaccord Genuity Group lifted their price target on Hudbay Minerals from C$10.50 to C$13.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Bank of America lifted their price target on Hudbay Minerals from C$8.50 to C$12.25 in a report on Tuesday, April 9th. CIBC lifted their price target on Hudbay Minerals from C$11.00 to C$13.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. National Bankshares lifted their price target on Hudbay Minerals from C$8.50 to C$8.75 and gave the company a “sector perform” rating in a report on Monday, February 26th. Finally, Stifel Nicolaus set a C$11.25 price objective on Hudbay Minerals and gave the company a “buy” rating in a research report on Tuesday, March 26th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$11.06.

Hudbay Minerals Stock Performance

Shares of HBM stock opened at C$10.60 on Thursday. Hudbay Minerals has a 1-year low of C$5.46 and a 1-year high of C$11.05. The company has a current ratio of 1.25, a quick ratio of 0.85 and a debt-to-equity ratio of 62.93. The company has a market capitalization of C$3.72 billion, a price-to-earnings ratio of 35.33, a P/E/G ratio of 3.97 and a beta of 1.96. The stock’s fifty day simple moving average is C$9.08 and its 200-day simple moving average is C$7.54.

Hudbay Minerals Dividend Announcement

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

Insiders Place Their Bets

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