FY2024 Earnings Estimate for Hudbay Minerals Inc. Issued By Raymond James (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM - Equities research analysts at Raymond James decreased their FY2024 earnings per share (EPS) estimates for shares of Hudbay Minerals in a note issued to investors on Monday, September 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.64 for the year, down from their previous forecast of $0.69. The consensus estimate for Hudbay Minerals' current full-year earnings is $0.52 per share.

Several other equities research analysts have also recently weighed in on HBM. Jefferies Financial Group upgraded shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a research report on Wednesday, August 14th. Stifel Canada raised Hudbay Minerals to a "strong-buy" rating in a research report on Monday, July 22nd. Finally, StockNews.com downgraded 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, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Hudbay Minerals presently has an average rating of "Buy" and an average target price of $10.88.

Hudbay Minerals Trading Up 7.7 %

Hudbay Minerals stock traded up $0.68 during mid-day trading on Thursday, hitting $9.43. 6,520,301 shares of the stock were exchanged, compared to its average volume of 3,125,676. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 40.98 and a beta of 1.77. Hudbay Minerals has a 12 month low of $3.94 and a 12 month high of $10.49. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.47. The firm's fifty day simple moving average is $7.73 and its two-hundred day simple moving average is $8.21.

Hudbay Minerals Cuts Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise boosted its position in Hudbay Minerals by 38.7% in 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Hudbay Minerals by 4.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,546 shares of the mining company's stock worth $674,000 after acquiring an additional 2,905 shares during the period. Ballentine Partners LLC boosted its stake in Hudbay Minerals by 32.7% in the second quarter. Ballentine Partners LLC now owns 16,171 shares of the mining company's stock valued at $146,000 after acquiring an additional 3,983 shares during the last quarter. Register Financial Advisors LLC bought a new position in shares of Hudbay Minerals during the 1st quarter valued at approximately $35,000. Finally, CIBC Asset Management Inc increased its stake in shares of Hudbay Minerals by 2.1% during the 4th quarter. CIBC Asset Management Inc now owns 351,911 shares of the mining company's stock worth $1,942,000 after purchasing an additional 7,161 shares during the last quarter. 57.82% of the stock is owned by institutional investors.

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.