Hudbay Minerals Inc (NYSE:HBM) Expected to Post Quarterly Sales of $322.56 Million

Brokerages expect that Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) will post $322.56 million in sales for the current fiscal quarter, according to Zacks Investment Research. Thirteen analysts have provided estimates for Hudbay Minerals’ earnings. The highest sales estimate is $354.59 million and the lowest is $302.25 million. Hudbay Minerals posted sales of $362.65 million in the same quarter last year, which suggests a negative year over year growth rate of 11.1%. The business is scheduled to issue its next quarterly earnings results on Wednesday, October 30th.

According to Zacks, analysts expect that Hudbay Minerals will report full year sales of $1.25 billion for the current year, with estimates ranging from $1.21 billion to $1.32 billion. For the next financial year, analysts forecast that the firm will report sales of $1.30 billion, with estimates ranging from $1.21 billion to $1.53 billion. Zacks’ sales 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 quarterly earnings data on Thursday, August 8th. The mining company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.10). The firm had revenue of $329.40 million for the quarter, compared to analysts’ expectations of $310.63 million. Hudbay Minerals had a negative net margin of 3.61% and a positive return on equity of 1.51%. Hudbay Minerals’s revenue was down 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS.

HBM has been the subject of a number of recent research reports. ValuEngine upgraded shares of Hudbay Minerals from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Credit Suisse Group lowered their price objective on shares of Hudbay Minerals from $11.50 to $8.75 and set an “outperform” rating for the company in a report on Tuesday, August 6th. TheStreet lowered shares of Hudbay Minerals from a “c” rating to a “d+” rating in a report on Wednesday, May 29th. Raymond James restated a “hold” rating and issued a $10.50 price objective on shares of Hudbay Minerals in a report on Wednesday, May 8th. Finally, Barclays restated an “average” rating and issued a $8.00 price objective on shares of Hudbay Minerals in a report on Sunday, August 4th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Hudbay Minerals currently has a consensus rating of “Hold” and an average target price of $8.35.

Shares of HBM traded up $0.01 during mid-day trading on Wednesday, reaching $3.28. The company’s stock had a trading volume of 691,682 shares, compared to its average volume of 914,624. The stock has a market cap of $858.27 million, a PE ratio of 8.41, a P/E/G ratio of 15.82 and a beta of 2.89. The company has a current ratio of 2.31, a quick ratio of 2.14 and a debt-to-equity ratio of 0.48. Hudbay Minerals has a 52 week low of $3.14 and a 52 week high of $7.83. The company’s fifty day moving average price is $4.62 and its two-hundred day moving average price is $5.79.

The company also recently declared a Semi-Annual dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be issued a dividend of $0.008 per share. The ex-dividend date of this dividend is Thursday, September 5th. Hudbay Minerals’s dividend payout ratio is currently 5.13%.

A number of large investors have recently bought and sold shares of the stock. Letko Brosseau & Associates Inc. raised its holdings in Hudbay Minerals by 0.7% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 35,465,873 shares of the mining company’s stock valued at $192,426,000 after buying an additional 245,440 shares during the last quarter. Waterton Global Resource Management Inc. increased its position in Hudbay Minerals by 6.5% during the 2nd quarter. Waterton Global Resource Management Inc. now owns 33,649,698 shares of the mining company’s stock valued at $182,045,000 after purchasing an additional 2,066,581 shares during the period. Norges Bank purchased a new position in Hudbay Minerals during the 4th quarter valued at $30,291,000. Vanguard Group Inc. increased its position in Hudbay Minerals by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 6,371,000 shares of the mining company’s stock valued at $34,468,000 after purchasing an additional 137,274 shares during the period. Finally, Heathbridge Capital Management Ltd. increased its position in Hudbay Minerals by 4.9% during the 2nd quarter. Heathbridge Capital Management Ltd. now owns 5,112,715 shares of the mining company’s stock valued at $27,698,000 after purchasing an additional 239,715 shares during the period. Institutional investors own 62.92% 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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