Brokerages Expect Hudbay Minerals Inc (HBM) Will Announce Earnings of $0.02 Per Share

Wall Street brokerages forecast that Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) will report earnings per share of $0.02 for the current quarter, Zacks Investment Research reports. Fourteen analysts have provided estimates for Hudbay Minerals’ earnings. The lowest EPS estimate is ($0.06) and the highest is $0.12. Hudbay Minerals reported earnings of $0.17 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 88.2%. The business is expected to issue its next quarterly earnings report on Wednesday, May 1st.

According to Zacks, 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 financial year, analysts anticipate that the firm will report earnings of $0.46 per share, with EPS estimates ranging from $0.01 to $1.27. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Hudbay Minerals.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Tuesday, February 19th. The mining company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Hudbay Minerals had a net margin of 5.80% and a return on equity of 4.73%. The business had revenue of $351.77 million during the quarter, compared to analyst estimates of $306.75 million. During the same period in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue was down 17.1% compared to the same quarter last year.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research report on Wednesday, December 26th. BMO Capital Markets assumed coverage on Hudbay Minerals in a research report on Tuesday, January 8th. They issued an “outperform” rating for the company. CIBC restated a “neutral” rating on shares of Hudbay Minerals in a research report on Sunday, January 20th. ValuEngine upgraded Hudbay Minerals from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. Finally, Canaccord Genuity cut Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Wednesday, February 20th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Hudbay Minerals currently has a consensus rating of “Buy” and a consensus target price of $7.81.

A number of large investors have recently modified their holdings of HBM. Norges Bank bought a new position in Hudbay Minerals in the fourth quarter worth approximately $30,291,000. Letko Brosseau & Associates Inc. grew its holdings in shares of Hudbay Minerals by 13.9% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 36,116,358 shares of the mining company’s stock valued at $170,824,000 after buying an additional 4,404,357 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Hudbay Minerals by 78.1% during the third quarter. Mackenzie Financial Corp now owns 3,093,574 shares of the mining company’s stock valued at $15,623,000 after buying an additional 1,356,699 shares during the last quarter. Man Group plc grew its holdings in shares of Hudbay Minerals by 175.9% during the third quarter. Man Group plc now owns 1,887,289 shares of the mining company’s stock valued at $9,549,000 after buying an additional 1,203,146 shares during the last quarter. Finally, Hexavest Inc. boosted its holdings in Hudbay Minerals by 357.7% in the first quarter. Hexavest Inc. now owns 1,529,690 shares of the mining company’s stock valued at $10,935,000 after purchasing an additional 1,195,479 shares during the last quarter. 66.14% of the stock is owned by institutional investors.

HBM opened at $7.27 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.36 and a quick ratio of 2.00. The stock has a market cap of $1.90 billion, a P/E ratio of 18.64, a P/E/G ratio of 6.79 and a beta of 2.90. Hudbay Minerals has a twelve month low of $3.44 and a twelve month high of $7.83.

The business also recently declared a Semi-Annual dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were paid a dividend of $0.008 per share. This represents a dividend yield of 0.24%. The ex-dividend date of this dividend was Thursday, March 7th. Hudbay Minerals’s dividend payout ratio is presently 5.13%.

Hudbay Minerals Company Profile

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.

See Also: Trading signals using Bollinger bands

Get a free copy of the Zacks research report on Hudbay Minerals (HBM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Hudbay Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudbay Minerals and related companies with MarketBeat.com's FREE daily email newsletter.