Hudbay Minerals Inc (HBM) Expected to Announce Quarterly Sales of $319.61 Million

Analysts expect that Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) will report $319.61 million in sales for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Hudbay Minerals’ earnings, with the highest sales estimate coming in at $390.00 million and the lowest estimate coming in at $272.40 million. Hudbay Minerals posted sales of $414.14 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 22.8%. The company is scheduled to report its next earnings report after the market closes on Tuesday, February 19th.

On average, analysts expect that Hudbay Minerals will report full-year sales of $1.44 billion for the current financial year, with estimates ranging from $1.39 billion to $1.51 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.29 billion, with estimates ranging from $1.09 billion to $1.39 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Hudbay Minerals.

Several research firms have recently commented on HBM. Raymond James reiterated a “buy” rating on shares of Hudbay Minerals in a research note on Friday, November 2nd. ValuEngine upgraded Hudbay Minerals from a “sell” rating to a “hold” rating in a research note on Tuesday, January 22nd. Zacks Investment Research cut Hudbay Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. CIBC reiterated a “neutral” rating on shares of Hudbay Minerals in a research note on Sunday, January 20th. Finally, Royal Bank of Canada cut Hudbay Minerals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, December 12th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Hudbay Minerals has a consensus rating of “Buy” and a consensus price target of $6.92.

A number of institutional investors and hedge funds have recently made changes to their positions in HBM. BlackRock Inc. lifted its stake in Hudbay Minerals by 131.1% during the second quarter. BlackRock Inc. now owns 35,456 shares of the mining company’s stock worth $199,000 after purchasing an additional 20,113 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Hudbay Minerals during the third quarter worth $2,076,000. Intact Investment Management Inc. lifted its stake in Hudbay Minerals by 522.7% during the third quarter. Intact Investment Management Inc. now owns 1,133,300 shares of the mining company’s stock worth $7,378,000 after purchasing an additional 951,300 shares during the last quarter. Heathbridge Capital Management Ltd. lifted its stake in Hudbay Minerals by 0.8% during the third quarter. Heathbridge Capital Management Ltd. now owns 4,559,900 shares of the mining company’s stock worth $23,037,000 after purchasing an additional 37,650 shares during the last quarter. Finally, Usca Ria LLC lifted its stake in Hudbay Minerals by 38.1% during the third quarter. Usca Ria LLC now owns 68,029 shares of the mining company’s stock worth $344,000 after purchasing an additional 18,755 shares during the last quarter. Hedge funds and other institutional investors own 52.22% of the company’s stock.

Hudbay Minerals stock opened at $5.99 on Tuesday. The company has a market cap of $1.57 billion, a PE ratio of 10.51 and a beta of 2.83. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 1.98. Hudbay Minerals has a 52 week low of $3.44 and a 52 week high of $8.85.

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 four polymetallic mines, four ore concentrators, and a zinc production facility in northern Manitoba and Saskatchewan, Canada, as well as in Cusco, Peru; and a copper project in Arizona, the United States.

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

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