Scotiabank Reduces Earnings Estimates for HudBay Minerals

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) – Scotiabank lowered their FY2027 EPS estimates for HudBay Minerals in a report issued on Thursday, February 26th. Scotiabank analyst O. Wowkodaw now expects that the mining company will post earnings per share of $1.71 for the year, down from their prior estimate of $1.72. Scotiabank has a “Outperform” rating on the stock. The consensus estimate for HudBay Minerals’ current full-year earnings is $0.79 per share.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Friday, February 20th. The mining company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.18). The firm had revenue of $732.90 million for the quarter, compared to analyst estimates of $730.13 million. HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 earnings per share.

HBM has been the topic of a number of other research reports. National Bank Financial lowered shares of HudBay Minerals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 28th. Wall Street Zen downgraded HudBay Minerals from a “buy” rating to a “hold” rating in a report on Sunday. UBS Group started coverage on HudBay Minerals in a research report on Thursday, January 8th. They issued a “buy” rating on the stock. Zacks Research downgraded HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Citigroup lifted their price objective on HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $26.00.

HudBay Minerals Trading Up 1.0%

NYSE HBM opened at $28.32 on Monday. The company has a market cap of $11.24 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 0.39 and a beta of 1.27. HudBay Minerals has a twelve month low of $5.95 and a twelve month high of $28.74. The company has a quick ratio of 0.78, a current ratio of 0.95 and a debt-to-equity ratio of 0.18. The business’s fifty day moving average is $23.71 and its 200 day moving average is $18.17.

Hedge Funds Weigh In On HudBay Minerals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Waterfront Wealth Inc. boosted its position in HudBay Minerals by 1.0% during the fourth quarter. Waterfront Wealth Inc. now owns 39,451 shares of the mining company’s stock worth $783,000 after acquiring an additional 399 shares during the last quarter. Strong Tower Advisory Services lifted its stake in shares of HudBay Minerals by 0.6% during the 4th quarter. Strong Tower Advisory Services now owns 94,762 shares of the mining company’s stock worth $1,881,000 after purchasing an additional 587 shares during the period. Vontobel Holding Ltd. boosted its holdings in shares of HudBay Minerals by 0.6% during the fourth quarter. Vontobel Holding Ltd. now owns 126,090 shares of the mining company’s stock worth $2,503,000 after purchasing an additional 738 shares during the last quarter. Savant Capital LLC grew its position in shares of HudBay Minerals by 2.4% in the third quarter. Savant Capital LLC now owns 32,010 shares of the mining company’s stock valued at $485,000 after purchasing an additional 760 shares during the period. Finally, Allworth Financial LP increased its stake in HudBay Minerals by 107.9% in the third quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after purchasing an additional 1,033 shares during the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

HudBay Minerals Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, March 27th. Shareholders of record on Tuesday, March 10th will be paid a $0.01 dividend. This represents a yield of 8.0%. The ex-dividend date is Tuesday, March 10th. HudBay Minerals’s dividend payout ratio is presently 0.70%.

HudBay Minerals Company Profile

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.