Raymond James Financial Equities Analysts Cut Earnings Estimates for HudBay Minerals Inc. (HBM)
HudBay Minerals Inc. (NYSE:HBM) – Stock analysts at Raymond James Financial decreased their Q3 2017 earnings estimates for HudBay Minerals in a report released on Thursday. Raymond James Financial analyst A. Terentiew now forecasts that the firm will earn $0.10 per share for the quarter, down from their prior estimate of $0.12. Raymond James Financial also issued estimates for HudBay Minerals’ Q4 2017 earnings at $0.12 EPS.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded HudBay Minerals from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research report on Wednesday, October 5th. TD Securities restated a “hold” rating and set a $7.50 target price on shares of HudBay Minerals in a research report on Thursday, August 4th. BMO Capital Markets downgraded HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 target price for the company. in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Credit Suisse Group AG downgraded HudBay Minerals from an “outperform” rating to a “neutral” rating in a research report on Thursday, July 28th. Finally, Scotiabank restated an “outperform” rating and set a $7.50 target price (down previously from $8.00) on shares of HudBay Minerals in a research report on Monday, September 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $7.04.
Shares of HudBay Minerals (NYSE:HBM) traded down 0.26% during midday trading on Friday, reaching $3.80. The company had a trading volume of 104,226 shares. The firm’s market cap is $897.68 million. HudBay Minerals has a 52-week low of $1.56 and a 52-week high of $5.57. The company’s 50-day moving average is $3.92 and its 200-day moving average is $4.30.
HudBay Minerals (NYSE:HBM) last announced its quarterly earnings data on Wednesday, July 27th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.07. The business 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%. The firm’s revenue was up 63.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.24) earnings per share.
A number of hedge funds and other institutional investors have recently bought and sold shares of HBM. BlackRock Fund Advisors boosted its position in HudBay Minerals by 1.1% in the first quarter. BlackRock Fund Advisors now owns 49,772 shares of the mining company’s stock valued at $183,000 after buying an additional 535 shares in the last quarter. A.R.T. Advisors LLC boosted its position in HudBay Minerals by 285.8% in the second quarter. A.R.T. Advisors LLC now owns 47,653 shares of the mining company’s stock valued at $227,000 after buying an additional 35,300 shares in the last quarter. Acadian Asset Management LLC purchased a new position in HudBay Minerals during the second quarter valued at $382,000. Flow Traders U.S. LLC purchased a new position in HudBay Minerals during the second quarter valued at $389,000. Finally, PineBridge Investments L.P. boosted its position in HudBay Minerals by 16.2% in the second quarter. PineBridge Investments L.P. now owns 65,773 shares of the mining company’s stock valued at $406,000 after buying an additional 9,160 shares in the last quarter. 66.87% of the stock is owned by hedge funds and other institutional investors.
The firm also recently announced a semiannual dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 9th were paid a $0.0076 dividend. This represents a yield of 0.3%. This is a boost from HudBay Minerals’s previous semiannual dividend of $0.01. The ex-dividend date of this dividend was Wednesday, September 7th. HudBay Minerals’s payout ratio is presently -1.63%.
About HudBay Minerals
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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