Trading Report: Today: Raymond James Financial Equities Analysts Reduce Earnings Estimates for HudBay Minerals Inc. (HBM)

Today: Raymond James Financial Equities Analysts Reduce Earnings Estimates for HudBay Minerals Inc. (HBM)

HudBay Minerals Inc. (NYSE:HBM) – Research analysts at Raymond James Financial lowered their Q3 2016 earnings estimates for shares of HudBay Minerals in a report released on Thursday. Raymond James Financial analyst A. Terentiew now forecasts that the brokerage will post earnings per share of $0.04 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.

A number of other equities analysts have also weighed in on HBM. Zacks Investment Research raised HudBay Minerals from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a research note on Wednesday, October 5th. TD Securities reaffirmed a “hold” rating and issued a $7.50 price objective on shares of HudBay Minerals in a research note on Thursday, August 4th. BMO Capital Markets lowered HudBay Minerals from an “outperform” rating to a “market perform” rating and set a $7.50 price objective for the company. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Credit Suisse Group AG lowered HudBay Minerals from an “outperform” rating to a “neutral” rating in a research note on Thursday, July 28th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $7.50 price objective (down previously from $8.00) on shares of HudBay Minerals in a research note on Monday, September 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. HudBay Minerals has an average rating of “Buy” and a consensus price target of $7.04.

HudBay Minerals (NYSE:HBM) opened at 3.8099 on Monday. 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 $3.90 and a 200-day moving average price of $4.30. The stock’s market capitalization is $900.02 million.

HudBay Minerals (NYSE:HBM) last announced its quarterly earnings results 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. The company earned $247 million during the quarter, compared to analysts’ expectations of $249.18 million. HudBay Minerals had a positive return on equity of 0.50% and a negative net margin of 26.09%. HudBay Minerals’s revenue for the quarter was up 63.7% on a year-over-year basis. During the same period last year, the firm earned ($0.24) earnings per share.

The business also recently disclosed a semiannual dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were paid a $0.0076 dividend. This represents a dividend yield of 0.3%. This is a positive change from HudBay Minerals’s previous semiannual dividend of $0.01. The ex-dividend date of this dividend was Wednesday, September 7th. HudBay Minerals’s dividend payout ratio (DPR) is presently -1.63%.

Several large investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its stake 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 valued at $656,000 after buying an additional 39,136 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake 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 raised its stake 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 raised its stake 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 acquired a new stake in shares of HudBay Minerals during the second quarter worth about $389,000. 66.87% of the stock is owned by institutional investors and hedge funds.

HudBay Minerals Company Profile

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