Raymond James Weighs in on Hudbay Minerals Inc.’s Q2 2021 Earnings (NYSE:HBM)


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Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Equities research analysts at Raymond James issued their Q2 2021 EPS estimates for shares of Hudbay Minerals in a report released on Monday, April 5th. Raymond James analyst F. Hamed forecasts that the mining company will post earnings of $0.05 per share for the quarter. Raymond James currently has a “Outperform” rating on the stock. Raymond James also issued estimates for Hudbay Minerals’ Q3 2021 earnings at $0.09 EPS, Q4 2021 earnings at $0.19 EPS, FY2021 earnings at $0.42 EPS and FY2022 earnings at $0.75 EPS.

A number of other equities research analysts also recently commented on the stock. Canaccord Genuity reiterated a “buy” rating on shares of Hudbay Minerals in a report on Wednesday. Scotiabank increased their price objective on shares of Hudbay Minerals from $12.00 to $12.50 and gave the company an “outperform” rating in a research note on Tuesday, March 30th. CIBC upped their target price on shares of Hudbay Minerals from $10.75 to $13.00 and gave the company an “outperform” rating in a research note on Monday, March 1st. Stifel Nicolaus increased their price target on shares of Hudbay Minerals from $12.00 to $13.25 and gave the stock a “buy” rating in a research report on Wednesday, March 31st. Finally, Royal Bank of Canada raised Hudbay Minerals from a “sector perform” rating to an “outperform” rating in a report on Wednesday, March 31st. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $11.20.

Shares of HBM stock opened at $7.91 on Thursday. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -13.41 and a beta of 2.57. The company has a current ratio of 2.21, a quick ratio of 1.81 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $7.18 and a 200 day moving average price of $6.19. Hudbay Minerals has a twelve month low of $1.86 and a twelve month high of $8.39.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in shares of Hudbay Minerals by 36.5% during the fourth 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 Hudbay Minerals in the 4th quarter valued at about $5,717,000. Jane Street Group LLC boosted its stake in 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 purchasing an additional 191,714 shares during the period. Morgan Stanley boosted its stake in 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 purchasing an additional 1,750,052 shares during the period. Finally, Paloma Partners Management Co bought a new position in Hudbay Minerals in the 4th quarter worth about $835,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

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

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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