Zacks: Brokerages Expect Hudbay Minerals Inc (NYSE:HBM) Will Post Quarterly Sales of $319.83 Million

Equities analysts forecast that Hudbay Minerals Inc (NYSE:HBM) (TSE:HBM) will post sales of $319.83 million for the current fiscal quarter, Zacks Investment Research reports. Thirteen analysts have made estimates for Hudbay Minerals’ earnings, with the lowest sales estimate coming in at $287.90 million and the highest estimate coming in at $364.30 million. Hudbay Minerals posted sales of $351.77 million during the same quarter last year, which would indicate a negative year over year growth rate of 9.1%. The firm is scheduled to issue its next earnings results on Tuesday, February 18th.

According to Zacks, analysts expect that Hudbay Minerals will report full-year sales of $1.23 billion for the current year, with estimates ranging from $1.20 billion to $1.26 billion. For the next financial year, analysts forecast that the business will report sales of $1.23 billion, with estimates ranging from $1.11 billion to $1.37 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Hudbay Minerals.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last issued its earnings results on Monday, November 11th. The mining company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The firm had revenue of $291.28 million during the quarter, compared to the consensus estimate of $295.75 million. Hudbay Minerals had a negative return on equity of 0.71% and a negative net margin of 27.35%. The company’s quarterly revenue was down 19.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 EPS.

HBM has been the topic of several recent analyst reports. Zacks Investment Research upgraded Hudbay Minerals from a “strong sell” rating to a “hold” rating in a research note on Friday, October 18th. CIBC reissued a “hold” rating and issued a $5.00 target price on shares of Hudbay Minerals in a report on Friday, September 6th. Scotiabank cut Hudbay Minerals from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, November 12th. Finally, ValuEngine downgraded Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Hudbay Minerals has an average rating of “Hold” and an average price target of $7.55.

Shares of NYSE HBM opened at $3.46 on Friday. Hudbay Minerals has a twelve month low of $2.99 and a twelve month high of $7.83. The firm has a market cap of $930.13 million, a P/E ratio of 8.87 and a beta of 3.01. The company has a 50 day moving average of $3.54 and a 200 day moving average of $4.11. The company has a quick ratio of 1.61, a current ratio of 2.09 and a debt-to-equity ratio of 0.56.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brave Asset Management Inc. purchased a new stake in Hudbay Minerals in the third quarter worth approximately $38,000. Cubist Systematic Strategies LLC purchased a new position in shares of Hudbay Minerals in the 2nd quarter worth $73,000. Bank of Nova Scotia purchased a new position in shares of Hudbay Minerals in the 2nd quarter worth $77,000. Marshall Wace North America L.P. bought a new stake in shares of Hudbay Minerals in the second quarter worth $222,000. Finally, ARP Americas LP bought a new stake in shares of Hudbay Minerals in the second quarter worth $225,000. 62.89% of the stock is owned by hedge funds and other institutional investors.

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.

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

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