Scotiabank Has Negative View of HudBay Minerals Q2 Earnings

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) – Scotiabank cut their Q2 2026 earnings per share (EPS) estimates for shares of HudBay Minerals in a report issued on Wednesday, June 24th. Scotiabank analyst O. Wowkodaw now forecasts that the mining company will post earnings of $0.39 per share for the quarter, down from their prior estimate of $0.40. Scotiabank currently has a “Outperform” rating on the stock. The consensus estimate for HudBay Minerals’ current full-year earnings is $1.65 per share. Scotiabank also issued estimates for HudBay Minerals’ Q3 2026 earnings at $0.42 EPS, Q4 2026 earnings at $0.42 EPS, FY2026 earnings at $1.62 EPS, Q1 2027 earnings at $0.47 EPS, Q2 2027 earnings at $0.47 EPS, Q3 2027 earnings at $0.47 EPS, Q4 2027 earnings at $0.47 EPS, FY2027 earnings at $1.87 EPS, FY2028 earnings at $1.63 EPS and FY2029 earnings at $2.96 EPS.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings data on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $757.30 million during the quarter, compared to the consensus estimate of $684.73 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The firm’s revenue was up 27.3% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share.

Several other research firms have also issued reports on HBM. Wall Street Zen upgraded shares of HudBay Minerals from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Barclays began coverage on shares of HudBay Minerals in a research report on Thursday, May 21st. They set an “overweight” rating and a $30.00 price objective for the company. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of HudBay Minerals in a research note on Tuesday, April 21st. Finally, Weiss Ratings lowered shares of HudBay Minerals from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, HudBay Minerals has a consensus rating of “Buy” and a consensus target price of $27.33.

HudBay Minerals Stock Performance

Shares of HBM stock opened at $23.33 on Monday. The business’s 50 day simple moving average is $25.89 and its 200 day simple moving average is $23.73. HudBay Minerals has a one year low of $8.93 and a one year high of $32.15. The stock has a market capitalization of $9.27 billion, a PE ratio of 14.05, a PEG ratio of 0.27 and a beta of 1.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20.

HudBay Minerals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Tuesday, June 9th were paid a dividend of $0.01 per share. The ex-dividend date was Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. HudBay Minerals’s payout ratio is 1.81%.

Institutional Trading of HudBay Minerals

Several institutional investors and hedge funds have recently modified their holdings of HBM. FIL Ltd grew its holdings in HudBay Minerals by 202.0% during the fourth quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock worth $658,010,000 after buying an additional 22,169,339 shares in the last quarter. Vanguard Group Inc. lifted its stake in HudBay Minerals by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 16,198,255 shares of the mining company’s stock valued at $245,355,000 after acquiring an additional 373,399 shares in the last quarter. Invesco Ltd. lifted its stake in HudBay Minerals by 0.4% during the 3rd quarter. Invesco Ltd. now owns 11,391,356 shares of the mining company’s stock valued at $172,693,000 after acquiring an additional 46,948 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in HudBay Minerals by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 11,334,474 shares of the mining company’s stock worth $171,832,000 after acquiring an additional 348,278 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in HudBay Minerals by 10.4% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,502,218 shares of the mining company’s stock worth $159,111,000 after acquiring an additional 986,278 shares during the last quarter. 57.82% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about HudBay Minerals

Here are the key news stories impacting HudBay Minerals this week:

• Positive Sentiment: Scotiabank maintained an Outperform rating on HudBay Minerals and raised several near- and medium-term earnings estimates, including FY2027 and FY2029, signaling confidence in the company’s longer-term profit outlook.
• Positive Sentiment: The bank also lifted quarterly EPS forecasts for multiple periods, including Q1 2027, Q2 2027, Q3 2027, and Q4 2027, which suggests improving expectations for future operating performance.
• Positive Sentiment: A separate report noted that HudBay Minerals now has a consensus analyst recommendation of “Buy”, which can reinforce bullish sentiment among investors. HudBay Minerals Inc (NYSE:HBM) Receives Consensus Recommendation of “Buy” from Analysts
• Neutral Sentiment: Scotiabank slightly trimmed FY2026 and FY2028 EPS estimates while lowering Q2 2026 and Q3 2026 forecasts modestly, indicating some short-term caution even as the broader outlook improved.

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.