Canada's Hudbay Q2 adjusted EPS misses on shipment delays
HBM•Analyst coverage and valuation
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell".
- The average consensus recommendation for the specialty mining & metals peer group is "buy".
- Wall Street's median 12-month price target for Hudbay Minerals Inc is C$42.25, about 37.4% above its July 28 closing price of C$30.76.
- The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago.
Quarterly results missed estimates
Canada copper and gold miner Hudbay Minerals reported second-quarter revenue and adjusted earnings per share that missed analyst expectations.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Miss | $631.30 mln | $640.23 mln (6 Analysts) |
| Q2 Adjusted EPS | Miss | $0.28 | $0.30 (13 Analysts) |
| Q2 EPS | $0.34 | ||
| Q2 Net Earnings attributable | $138.10 mln | ||
| Q2 Adjusted EBITDA | $321.20 mln | ||
| Q2 Net Debt | -$80.50 mln |
Shipment delays weighed on sales volumes
Lower results were due to delayed Peru shipments from temporary port closures, which hurt sales volumes in the quarter.
- - Lower sales volumes in Q2 due to delayed copper concentrate shipments from temporary port closures in Peru.
