Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) – Equities researchers at Raymond James issued their Q2 2021 earnings per share (EPS) estimates for Hudbay Minerals in a research note issued on Monday, April 5th. Raymond James analyst F. Hamed anticipates that the mining company will post earnings of $0.05 per share for the quarter. Raymond James has a “Outperform” rating on the stock. Raymond James also issued estimates for Hudbay Minerals’ Q3 2021 earnings at $0.09 EPS, Q4 2021 earnings at $0.19 EPS, FY2021 earnings at $0.42 EPS and FY2022 earnings at $0.75 EPS.

A number of other research analysts have also recently weighed in on HBM. Bank of America upgraded Hudbay Minerals from an “underperform” rating to a “buy” rating and lifted their target price for the company from $10.60 to $12.20 in a report on Tuesday. Stifel Nicolaus upped their target price on Hudbay Minerals from $12.00 to $13.25 and gave the stock a “buy” rating in a research report on Wednesday, March 31st. Scotiabank raised their target price on Hudbay Minerals from $12.00 to $12.50 and gave the company an “outperform” rating in a report on Tuesday, March 30th. CIBC boosted their price target on Hudbay Minerals from $10.75 to $13.00 and gave the stock an “outperform” rating in a research report on Monday, March 1st. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Hudbay Minerals in a research report on Wednesday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Hudbay Minerals presently has a consensus rating of “Buy” and a consensus target price of $11.20.

Hudbay Minerals stock opened at $7.91 on Thursday. The stock has a fifty day moving average price of $7.18 and a 200 day moving average price of $6.19. Hudbay Minerals has a 52 week low of $1.86 and a 52 week high of $8.39. The firm has a market capitalization of $2.07 billion, a P/E ratio of -13.41 and a beta of 2.57. The company has a current ratio of 2.21, a quick ratio of 1.81 and a debt-to-equity ratio of 0.72.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its quarterly earnings results on Thursday, February 18th. The mining company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Hudbay Minerals had a negative return on equity of 7.32% and a negative net margin of 14.02%. The company had revenue of $322.29 million for the quarter, compared to analyst estimates of $289.07 million.

A number of hedge funds have recently made changes to their positions in HBM. Morgan Stanley increased its stake in Hudbay Minerals by 233.9% during the fourth quarter. Morgan Stanley now owns 2,498,140 shares of the mining company’s stock valued at $17,487,000 after purchasing an additional 1,750,052 shares during the last quarter. Barometer Capital Management Inc. acquired a new position in shares of Hudbay Minerals in the 4th quarter valued at about $8,376,000. Norges Bank bought a new stake in shares of Hudbay Minerals during the 4th quarter valued at about $5,717,000. Matarin Capital Management LLC acquired a new stake in Hudbay Minerals during the third quarter worth about $1,565,000. Finally, ETF Managers Group LLC boosted its position in Hudbay Minerals by 26.2% during the 4th quarter. ETF Managers Group LLC now owns 1,774,007 shares of the mining company’s stock worth $12,578,000 after acquiring an additional 368,397 shares during the period. 67.37% of the stock is owned by institutional investors.

The business also recently disclosed a semi-annual dividend, which was paid on Friday, March 26th. Shareholders of record on Tuesday, March 9th were paid a dividend of $0.0079 per share. This represents a yield of 0.2%. This is an increase from Hudbay Minerals’s previous semi-annual dividend of $0.01. The ex-dividend date of this dividend was Monday, March 8th.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; molybdenum concentrates; and zinc metals.

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