HudBay Minerals Inc. (NYSE:HBM) – Equities researchers at Raymond James Financial decreased their Q3 2016 earnings per share (EPS) estimates for HudBay Minerals in a research note issued to investors on Thursday. Raymond James Financial analyst A. Terentiew now anticipates that the firm will post earnings of $0.04 per share for the quarter, down from their previous forecast 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.

HBM has been the subject of a number of other reports. Scotiabank reissued an “outperform” rating and set a $7.50 target price (down from $8.00) on shares of HudBay Minerals in a research note on Monday, September 19th. BMO Capital Markets cut shares of HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 price target for the company. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Barclays PLC reaffirmed an “underweight” rating on shares of HudBay Minerals in a research note on Wednesday, August 3rd. TD Securities reaffirmed a “hold” rating and set a $7.50 price target on shares of HudBay Minerals in a research note on Thursday, August 4th. Finally, Credit Suisse Group AG cut shares of HudBay Minerals from an “outperform” rating to a “neutral” rating in a research note on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $7.04.

Earnings History and Estimates for HudBay Minerals (NYSE:HBM)

HudBay Minerals (NYSE:HBM) opened at 4.15 on Monday. The firm’s market capitalization is $980.36 million. The company’s 50-day moving average is $3.88 and its 200 day moving average is $4.31. HudBay Minerals has a 1-year low of $1.56 and a 1-year high of $5.57.

HudBay Minerals (NYSE:HBM) last released its earnings results on Wednesday, July 27th. The mining company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.07. The company had revenue of $247 million for the quarter, compared to analyst estimates of $249.18 million. HudBay Minerals had a negative net margin of 26.09% and a positive return on equity of 0.50%. HudBay Minerals’s revenue for the quarter was up 63.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.24) earnings per share.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc boosted its position in shares of HudBay Minerals by 39.5% in the second quarter. Legal & General Group Plc now owns 138,126 shares of the mining company’s stock worth $656,000 after buying an additional 39,136 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position 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 boosted its position 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 boosted its position 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 purchased a new position in shares of HudBay Minerals during the second quarter worth approximately $389,000. Hedge funds and other institutional investors own 66.87% of the company’s stock.

The firm also recently disclosed 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%. The ex-dividend date of this dividend was Wednesday, September 7th. This is an increase from HudBay Minerals’s previous semiannual dividend of $0.01. HudBay Minerals’s dividend payout ratio is -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.

5 Day Chart for NYSE:HBM

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