Hudbay Minerals Inc. (NYSE:HBM) to Post Q1 2022 Earnings of $0.15 Per Share, Raymond James Forecasts

Hudbay Minerals Inc. (NYSE:HBMGet Rating) (TSE:HBM) – Research analysts at Raymond James decreased their Q1 2022 earnings estimates for shares of Hudbay Minerals in a research report issued on Tuesday, April 19th. Raymond James analyst F. Hamed now anticipates that the mining company will earn $0.15 per share for the quarter, down from their previous forecast of $0.18. Raymond James also issued estimates for Hudbay Minerals’ Q1 2023 earnings at $0.34 EPS, Q2 2023 earnings at $0.35 EPS, Q3 2023 earnings at $0.35 EPS and Q4 2023 earnings at $0.35 EPS.

Hudbay Minerals (NYSE:HBMGet Rating) (TSE:HBM) last posted its quarterly earnings results on Wednesday, February 23rd. The mining company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. The company had revenue of $425.17 million for the quarter, compared to the consensus estimate of $440.81 million. Hudbay Minerals had a positive return on equity of 3.83% and a negative net margin of 16.27%. The firm’s quarterly revenue was up 31.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) EPS.

Other research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Friday, January 28th. StockNews.com downgraded Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus raised their price objective on Hudbay Minerals from C$15.00 to C$16.50 in a research note on Thursday, March 17th. Scotiabank raised their price objective on Hudbay Minerals from C$12.00 to C$12.50 in a research note on Tuesday. Finally, National Bank Financial dropped their price objective on Hudbay Minerals from C$13.00 to C$12.50 in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $13.64.

HBM stock opened at $6.51 on Thursday. The business’s fifty day moving average is $7.79 and its 200-day moving average is $7.34. The company has a quick ratio of 0.98, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. The company has a market cap of $1.70 billion, a P/E ratio of -7.00, a price-to-earnings-growth ratio of 0.36 and a beta of 2.08. Hudbay Minerals has a twelve month low of $5.22 and a twelve month high of $9.60.

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC bought a new position in shares of Hudbay Minerals in the 1st quarter valued at about $880,000. Wells Fargo & Company MN grew its holdings in shares of Hudbay Minerals by 428.1% in the 2nd quarter. Wells Fargo & Company MN now owns 85,005 shares of the mining company’s stock valued at $566,000 after acquiring an additional 68,908 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Hudbay Minerals in the 3rd quarter valued at about $108,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Hudbay Minerals in the 3rd quarter valued at about $81,000. Finally, Versor Investments LP bought a new position in shares of Hudbay Minerals in the 3rd quarter valued at about $208,000. Hedge funds and other institutional investors own 66.94% of the company’s stock.

The company also recently announced a Semi-Annual dividend, which was paid on Friday, March 25th. Shareholders of record on Tuesday, March 8th were issued a dividend of $0.008 per share. This represents a yield of 0.2%. The ex-dividend date of this dividend was Monday, March 7th. This is a boost from Hudbay Minerals’s previous Semi-Annual dividend of $0.01. Hudbay Minerals’s dividend payout ratio is -2.15%.

About Hudbay Minerals (Get Rating)

Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; silver/gold doré; molybdenum concentrates; and zinc metals.

See Also

Earnings History and Estimates for Hudbay Minerals (NYSE:HBM)

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