Raymond James Financial Equities Analysts Reduce Earnings Estimates for HudBay Minerals Inc. (HBM)
HudBay Minerals Inc. (NYSE:HBM) – Research analysts at Raymond James Financial lowered their Q3 2016 earnings estimates for shares of HudBay Minerals in a report released on Thursday. Raymond James Financial analyst A. Terentiew now forecasts that the brokerage will post earnings per share of $0.04 for the quarter, down from their prior estimate of $0.07. Raymond James Financial also issued estimates for HudBay Minerals’ Q4 2016 earnings at $0.03 EPS, Q1 2017 earnings at $0.08 EPS, Q2 2017 earnings at $0.08 EPS and FY2017 earnings at $0.38 EPS.
A number of other equities analysts have also weighed in on HBM. Zacks Investment Research raised HudBay Minerals from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a research note on Wednesday, October 5th. TD Securities reaffirmed a “hold” rating and issued a $7.50 price objective on shares of HudBay Minerals in a research note on Thursday, August 4th. BMO Capital Markets lowered HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 price objective for the company. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Credit Suisse Group AG lowered HudBay Minerals from an “outperform” rating to a “neutral” rating in a research note on Thursday, July 28th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $7.50 price objective (down previously from $8.00) on shares of HudBay Minerals in a research note on Monday, September 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. HudBay Minerals has an average rating of “Buy” and a consensus price target of $7.04.
HudBay Minerals (NYSE:HBM) opened at 3.8099 on Monday. HudBay Minerals has a 52 week low of $1.56 and a 52 week high of $5.57. The firm has a 50-day moving average price of $3.90 and a 200-day moving average price of $4.30. The stock’s market capitalization is $900.02 million.
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HudBay Minerals (NYSE:HBM) last announced its quarterly earnings results on Wednesday, July 27th. The mining company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.07. The company earned $247 million during the quarter, compared to analysts’ expectations of $249.18 million. HudBay Minerals had a positive return on equity of 0.50% and a negative net margin of 26.09%. HudBay Minerals’s revenue for the quarter was up 63.7% on a year-over-year basis. During the same period last year, the firm earned ($0.24) earnings per share.
The business also recently disclosed a semiannual dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were paid a $0.0076 dividend. This represents a dividend yield of 0.3%. This is a positive change from HudBay Minerals’s previous semiannual dividend of $0.01. The ex-dividend date of this dividend was Wednesday, September 7th. HudBay Minerals’s dividend payout ratio (DPR) is presently -1.63%.
Several large investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its stake in HudBay Minerals by 39.5% in the second quarter. Legal & General Group Plc now owns 138,126 shares of the mining company’s stock valued at $656,000 after buying an additional 39,136 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of HudBay Minerals by 37.5% in the second quarter. Cubist Systematic Strategies LLC now owns 111,200 shares of the mining company’s stock worth $529,000 after buying an additional 30,314 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of HudBay Minerals by 654.5% in the second quarter. AQR Capital Management LLC now owns 333,424 shares of the mining company’s stock worth $1,584,000 after buying an additional 289,235 shares in the last quarter. Capital Research Global Investors raised its stake in shares of HudBay Minerals by 11.2% in the second quarter. Capital Research Global Investors now owns 11,100,000 shares of the mining company’s stock worth $53,011,000 after buying an additional 1,115,000 shares in the last quarter. Finally, Flow Traders U.S. LLC acquired a new stake in shares of HudBay Minerals during the second quarter worth about $389,000. 66.87% of the stock is owned by institutional investors and hedge funds.
HudBay Minerals Company Profile
HudBay Minerals Inc is a Canada-based mining company. The Company is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. The Company is focused on the discovery, production and marketing of base and precious metals. The Company has assets in North and South America.
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