Analysts Expect Hudbay Minerals Inc (HBM) Will Announce Earnings of $0.05 Per Share

Brokerages expect Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) to report earnings of $0.05 per share for the current fiscal quarter, Zacks Investment Research reports. Thirteen analysts have issued estimates for Hudbay Minerals’ earnings, with estimates ranging from $0.00 to $0.17. Hudbay Minerals reported earnings per share of $0.09 during the same quarter last year, which would indicate a negative year over year growth rate of 44.4%. The firm is expected to issue its next earnings results on Tuesday, July 30th.

On average, analysts expect that Hudbay Minerals will report full year earnings of $0.20 per share for the current fiscal year, with EPS estimates ranging from ($0.06) to $0.64. For the next fiscal year, analysts anticipate that the business will report earnings of $0.45 per share, with EPS estimates ranging from $0.01 to $1.27. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Hudbay Minerals.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Monday, May 6th. The mining company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. The business had revenue of $292.30 million during the quarter, compared to analysts’ expectations of $314.70 million. Hudbay Minerals had a net margin of 2.22% and a return on equity of 3.07%. The company’s quarterly revenue was down 24.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 earnings per share.

HBM has been the subject of a number of recent research reports. Credit Suisse Group upgraded shares of Hudbay Minerals from a “neutral” rating to an “outperform” rating in a research report on Monday, March 11th. ValuEngine upgraded shares of Hudbay Minerals from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. Canaccord Genuity cut shares of Hudbay Minerals from a “buy” rating to a “hold” rating in a research report on Wednesday, February 20th. CIBC reissued a “neutral” rating on shares of Hudbay Minerals in a report on Sunday, January 20th. Finally, Raymond James lowered shares of Hudbay Minerals from an “outperform” rating to a “market perform” rating in a report on Thursday, February 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Hudbay Minerals currently has an average rating of “Hold” and an average price target of $8.05.

Shares of NYSE HBM opened at $5.07 on Monday. The stock has a market capitalization of $1.32 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 4.49 and a beta of 2.82. The company has a quick ratio of 2.14, a current ratio of 2.64 and a debt-to-equity ratio of 0.48. Hudbay Minerals has a 52 week low of $3.44 and a 52 week high of $7.83.

Institutional investors and hedge funds have recently made changes to their positions in the stock. New York State Common Retirement Fund purchased a new stake in shares of Hudbay Minerals in the fourth quarter valued at about $33,000. Ramsey Quantitative Systems purchased a new stake in shares of Hudbay Minerals in the fourth quarter valued at about $60,000. National Asset Management Inc. purchased a new stake in shares of Hudbay Minerals in the fourth quarter valued at about $60,000. Wells Fargo & Company MN grew its holdings in shares of Hudbay Minerals by 357.4% in the first quarter. Wells Fargo & Company MN now owns 8,562 shares of the mining company’s stock valued at $61,000 after purchasing an additional 6,690 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in Hudbay Minerals during the first quarter worth about $79,000. 67.69% of the stock is owned by hedge funds and other institutional investors.

About Hudbay Minerals

Hudbay Minerals Inc, an integrated 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; and zinc metal. The company owns three polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and copper projects in Arizona and Nevada, the United States.

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

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