Zacks: Brokerages Expect Hudbay Minerals Inc (NYSE:HBM) Will Post Quarterly Sales of $254.07 Million

Equities research analysts predict that Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) will report sales of $254.07 million for the current quarter, Zacks reports. Fourteen analysts have provided estimates for Hudbay Minerals’ earnings, with the highest sales estimate coming in at $298.38 million and the lowest estimate coming in at $214.51 million. Hudbay Minerals reported sales of $291.28 million during the same quarter last year, which indicates a negative year-over-year growth rate of 12.8%. The firm is expected to announce its next quarterly earnings report on Monday, November 9th.

On average, analysts expect that Hudbay Minerals will report full year sales of $984.79 million for the current fiscal year, with estimates ranging from $903.15 million to $1.05 billion. For the next year, analysts expect that the company will report sales of $1.27 billion, with estimates ranging from $1.13 billion to $1.45 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Hudbay Minerals.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Tuesday, August 11th. The mining company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.07. Hudbay Minerals had a negative return on equity of 7.04% and a negative net margin of 37.79%. The company had revenue of $208.91 million for the quarter, compared to analyst estimates of $188.95 million. During the same period in the previous year, the company posted ($0.21) earnings per share. The firm’s revenue was down 36.6% on a year-over-year basis.

HBM has been the topic of several analyst reports. Scotiabank boosted their target price on Hudbay Minerals from $4.25 to $5.00 and gave the stock a “sector perform” rating in a report on Thursday, August 13th. Raymond James boosted their target price on Hudbay Minerals from $6.00 to $6.50 and gave the stock a “market perform” rating in a report on Thursday, September 24th. Barclays upped their price target on Hudbay Minerals from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Stifel Nicolaus raised Hudbay Minerals to a “buy” rating and set a $7.00 price target on the stock in a report on Wednesday, August 12th. Finally, CIBC upped their price target on Hudbay Minerals from $5.00 to $5.50 and gave the company a “neutral” rating in a report on Thursday, August 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $5.54.

Hudbay Minerals stock traded down $0.03 during mid-day trading on Monday, hitting $4.20. The company had a trading volume of 848,905 shares, compared to its average volume of 1,467,549. The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average price is $4.27 and its two-hundred day moving average price is $3.02. Hudbay Minerals has a 12 month low of $1.23 and a 12 month high of $4.82. The company has a market capitalization of $1.11 billion, a PE ratio of -2.71 and a beta of 2.77.

The company also recently disclosed a semi-annual dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were given a dividend of $0.0075 per share. This represents a yield of 0.4%. The ex-dividend date was Thursday, September 3rd. Hudbay Minerals’s dividend payout ratio (DPR) is presently -5.26%.

A number of institutional investors have recently bought and sold shares of HBM. Virtu Financial LLC purchased a new stake in Hudbay Minerals during the second quarter valued at $41,000. BlackRock Inc. purchased a new stake in Hudbay Minerals in the first quarter worth about $51,000. Franklin Resources Inc. increased its position in Hudbay Minerals by 22.3% in the first quarter. Franklin Resources Inc. now owns 33,465 shares of the mining company’s stock worth $63,000 after buying an additional 6,095 shares in the last quarter. UBS Group AG increased its position in Hudbay Minerals by 107.4% in the second quarter. UBS Group AG now owns 23,617 shares of the mining company’s stock worth $72,000 after buying an additional 12,230 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Hudbay Minerals by 75.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,099 shares of the mining company’s stock worth $85,000 after buying an additional 12,040 shares in the last quarter. Institutional investors own 64.26% of the company’s stock.

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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