HudBay Minerals Inc. (NYSE:HBM) – Stock analysts at Raymond James Financial cut their Q3 2016 earnings 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 prior estimate 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.
HudBay Minerals (NYSE:HBM) last announced its quarterly earnings data on Wednesday, July 27th. The mining company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.07. HudBay Minerals had a negative net margin of 26.09% and a positive return on equity of 0.50%. The firm earned $247 million during the quarter, compared to analyst estimates of $249.18 million. During the same period last year, the business posted ($0.24) EPS. The company’s revenue was up 63.7% on a year-over-year basis.
Several other brokerages have also recently weighed in on HBM. Zacks Investment Research cut HudBay Minerals from a “buy” rating to a “sell” rating in a report on Monday. RBC Capital Markets restated an “outperform” rating and set a $8.00 target price (up from $7.50) on shares of HudBay Minerals in a report on Wednesday, August 3rd. BMO Capital Markets upgraded HudBay Minerals from a “market perform” rating to an “outperform” rating and set a $7.00 target price for the company in a report on Thursday, September 29th. Credit Suisse Group AG cut HudBay Minerals from an “outperform” rating to a “neutral” rating in a report on Thursday, July 28th. Finally, Scotiabank restated an “outperform” rating and set a $8.00 target price on shares of HudBay Minerals in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. HudBay Minerals currently has an average rating of “Hold” and an average target price of $7.04.
Shares of HudBay Minerals (NYSE:HBM) opened at 3.85 on Monday. The firm’s market cap is $909.49 million. HudBay Minerals has a 52 week low of $1.56 and a 52 week high of $5.57. The firm has a 50-day moving average price of $3.89 and a 200-day moving average price of $4.31.
A number of hedge funds and other institutional investors have recently bought and sold shares of HBM. Legal & General Group Plc raised its position in 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 during the period. Cubist Systematic Strategies LLC raised its position in 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 during the period. AQR Capital Management LLC raised its position in 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 during the period. Capital Research Global Investors raised its position in 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 during the period. Finally, Flow Traders U.S. LLC bought a new position in HudBay Minerals during the second quarter worth $389,000. 66.87% of the stock is owned by institutional investors.
The company also recently announced a semiannual dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were given a $0.0076 dividend. The ex-dividend date was Wednesday, September 7th. This represents a dividend yield of 0.3%. This is a positive change from HudBay Minerals’s previous semiannual dividend of $0.01. HudBay Minerals’s dividend payout ratio is currently -1.63%.
HudBay Minerals Company Profile
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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