Hudbay Minerals Q3 EPS Estimate Lowered by Raymond James

Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM - Analysts at Raymond James cut their Q3 2024 EPS estimates for Hudbay Minerals in a note issued to investors on Wednesday, October 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.06 for the quarter, down from their previous forecast of $0.12. The consensus estimate for Hudbay Minerals' current full-year earnings is $0.49 per share. Raymond James also issued estimates for Hudbay Minerals' Q4 2024 earnings at $0.28 EPS.

Several other analysts have also recently commented on HBM. Stifel Canada upgraded shares of Hudbay Minerals to a "strong-buy" rating in a report on Monday, July 22nd. Jefferies Financial Group upgraded shares of Hudbay Minerals from a "hold" rating to a "buy" rating in a report on Wednesday, August 14th. Finally, StockNews.com cut shares of Hudbay Minerals from a "buy" rating to a "hold" rating in a report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $11.17.

Hudbay Minerals Trading Down 0.3 %

Shares of Hudbay Minerals stock traded down $0.02 during trading on Monday, hitting $9.60. The stock had a trading volume of 2,201,938 shares, compared to its average volume of 3,108,045. The stock has a 50 day simple moving average of $8.42 and a 200 day simple moving average of $8.56. The company has a market capitalization of $3.78 billion, a PE ratio of 41.72 and a beta of 1.77. The company has a quick ratio of 1.49, a current ratio of 1.86 and a debt-to-equity ratio of 0.47. Hudbay Minerals has a 1 year low of $3.94 and a 1 year high of $10.49.

Hedge Funds Weigh In On Hudbay Minerals

Institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC bought a new position in shares of Hudbay Minerals in the third quarter valued at approximately $53,000. Clear Harbor Asset Management LLC bought a new stake in Hudbay Minerals in the 3rd quarter valued at $92,000. Ritholtz Wealth Management acquired a new stake in shares of Hudbay Minerals in the 2nd quarter valued at $96,000. Armistice Capital LLC acquired a new stake in shares of Hudbay Minerals in the 2nd quarter valued at $97,000. Finally, Liontrust Investment Partners LLP acquired a new stake in shares of Hudbay Minerals in the 2nd quarter valued at $100,000. Institutional investors own 57.82% of the company's stock.

Hudbay Minerals Cuts Dividend

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

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.