HudBay Minerals (HBM) closed the most recent trading day at $21.56, moving +2.13% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.65%. Meanwhile, the Dow gained 0.48%, and the Nasdaq, a tech-heavy index, added 0.82%.
The mining company's stock has climbed by 13.37% in the past month, exceeding the Basic Materials sector's gain of 7.44% and the S&P 500's gain of 1.15%.
The investment community will be paying close attention to the earnings performance of HudBay Minerals in its upcoming release. The company is expected to report EPS of $0.3, up 66.67% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $701.15 million, reflecting a 19.87% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.76 per share and revenue of $2.2 billion, indicating changes of +58.33% and 0%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for HudBay Minerals. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.6% lower. HudBay Minerals presently features a Zacks Rank of #3 (Hold).
In the context of valuation, HudBay Minerals is at present trading with a Forward P/E ratio of 16.15. This signifies a discount in comparison to the average Forward P/E of 23.35 for its industry.
The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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HudBay Minerals Inc (HBM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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