Brokers Issue Forecasts for Hudbay Minerals Inc.’s FY2024 Earnings (TSE:HBM)

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) – Research analysts at Raymond James cut their FY2024 EPS estimates for shares of Hudbay Minerals in a note issued to investors on Monday, September 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.87 for the year, down from their prior forecast of $0.95.

Several other research analysts also recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Hudbay Minerals from C$18.00 to C$16.00 and set an “outperform” rating on the stock in a report on Tuesday, September 10th. Jefferies Financial Group upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating and set a C$14.00 price target on the stock in a research report on Wednesday, August 14th. Stifel Nicolaus boosted their target price on shares of Hudbay Minerals from C$15.00 to C$16.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Stifel Canada raised shares of Hudbay Minerals to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, Eight Capital upped their target price on shares of Hudbay Minerals from C$14.50 to C$18.00 in a research note on Thursday, July 11th. Twelve equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$15.34.

Hudbay Minerals Stock Performance

Shares of HBM opened at C$12.54 on Thursday. The company has a market capitalization of C$4.94 billion, a PE ratio of 33.89, a price-to-earnings-growth ratio of 3.97 and a beta of 1.82. Hudbay Minerals has a one year low of C$5.46 and a one year high of C$14.33. The company has a debt-to-equity ratio of 49.37, a current ratio of 1.87 and a quick ratio of 0.85. The company’s fifty day moving average price is C$10.60 and its 200 day moving average price is C$11.23.

Hudbay Minerals Dividend Announcement

The company also recently declared a 1 dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, September 20th were paid a $0.02 dividend. This represents a yield of 0.09%. The ex-dividend date was Friday, September 20th. Hudbay Minerals’s dividend payout ratio is currently 5.41%.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.