Hudbay Minerals Inc. (NYSE:HBM) Expected to Announce Quarterly Sales of $332.44 Million


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Brokerages expect that Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) will post $332.44 million in sales for the current quarter, Zacks Investment Research reports. Fourteen analysts have issued estimates for Hudbay Minerals’ earnings. The highest sales estimate is $362.42 million and the lowest is $272.36 million. Hudbay Minerals posted sales of $245.11 million during the same quarter last year, which suggests a positive year over year growth rate of 35.6%. The company is expected to issue its next earnings results on Thursday, May 13th.

According to Zacks, analysts expect that Hudbay Minerals will report full-year sales of $1.42 billion for the current fiscal year, with estimates ranging from $1.23 billion to $1.57 billion. For the next year, analysts anticipate that the firm will report sales of $1.52 billion, with estimates ranging from $1.32 billion to $1.80 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Hudbay Minerals.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Thursday, February 18th. The mining company reported ($0.06) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The firm had revenue of $322.29 million for the quarter, compared to analyst estimates of $289.07 million. Hudbay Minerals had a negative return on equity of 7.32% and a negative net margin of 14.02%.

Several research analysts have weighed in on HBM shares. CIBC boosted their price target on Hudbay Minerals from $10.75 to $13.00 and gave the stock an “outperform” rating in a research report on Monday, March 1st. Bank of America raised Hudbay Minerals from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $10.60 to $12.20 in a report on Tuesday. Royal Bank of Canada raised Hudbay Minerals from a “sector perform” rating to an “outperform” rating in a report on Wednesday, March 31st. TD Securities boosted their target price on Hudbay Minerals from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Friday, February 19th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Hudbay Minerals in a report on Wednesday. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $11.20.

NYSE:HBM opened at $7.91 on Thursday. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -13.41 and a beta of 2.57. Hudbay Minerals has a twelve month low of $1.86 and a twelve month high of $8.39. The stock’s 50 day moving average price is $7.18 and its two-hundred day moving average price is $6.19. The company has a quick ratio of 1.81, a current ratio of 2.21 and a debt-to-equity ratio of 0.72.

The company also recently declared a semi-annual dividend, which was paid on Friday, March 26th. Investors of record on Tuesday, March 9th were paid a $0.0079 dividend. The ex-dividend date of this dividend was Monday, March 8th. This is an increase from Hudbay Minerals’s previous semi-annual dividend of $0.01. This represents a yield of 0.2%.

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Hudbay Minerals by 36.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 383,864 shares of the mining company’s stock valued at $2,687,000 after acquiring an additional 102,589 shares during the period. Norges Bank bought a new stake in shares of Hudbay Minerals during the 4th quarter valued at $5,717,000. Jane Street Group LLC lifted its position in shares of Hudbay Minerals by 401.9% during the 4th quarter. Jane Street Group LLC now owns 239,418 shares of the mining company’s stock valued at $1,676,000 after acquiring an additional 191,714 shares during the period. Morgan Stanley lifted its position in shares of Hudbay Minerals by 233.9% during the 4th quarter. Morgan Stanley now owns 2,498,140 shares of the mining company’s stock valued at $17,487,000 after acquiring an additional 1,750,052 shares during the period. Finally, Paloma Partners Management Co bought a new stake in shares of Hudbay Minerals during the 4th quarter valued at $835,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Hudbay Minerals Company Profile

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; molybdenum concentrates; and zinc metals.

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

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