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HudBay Minerals (HBM) Stock Falls Amid Market Uptick: What Investors Need to Know
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HudBay Minerals (HBM - Free Report) closed the latest trading day at $9.58, indicating a -0.42% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.27%. Meanwhile, the Dow gained 0.65%, and the Nasdaq, a tech-heavy index, added 0.26%.
Prior to today's trading, shares of the mining company had gained 3.66% over the past month. This has outpaced the Basic Materials sector's loss of 3.73% and the S&P 500's gain of 2% in that time.
Investors will be eagerly watching for the performance of HudBay Minerals in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 13, 2024. The company is forecasted to report an EPS of $0.05, showcasing a 28.57% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $470.43 million, indicating a 2.09% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.48 per share and a revenue of $2.04 billion, indicating changes of +108.7% and +20.73%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for HudBay Minerals. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 8.9% lower within the past month. Right now, HudBay Minerals possesses a Zacks Rank of #3 (Hold).
In terms of valuation, HudBay Minerals is currently trading at a Forward P/E ratio of 20.15. This signifies a premium in comparison to the average Forward P/E of 16.72 for its industry.
The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 177, positioning it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow HBM in the coming trading sessions, be sure to utilize Zacks.com.
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HudBay Minerals (HBM) Stock Falls Amid Market Uptick: What Investors Need to Know
HudBay Minerals (HBM - Free Report) closed the latest trading day at $9.58, indicating a -0.42% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.27%. Meanwhile, the Dow gained 0.65%, and the Nasdaq, a tech-heavy index, added 0.26%.
Prior to today's trading, shares of the mining company had gained 3.66% over the past month. This has outpaced the Basic Materials sector's loss of 3.73% and the S&P 500's gain of 2% in that time.
Investors will be eagerly watching for the performance of HudBay Minerals in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 13, 2024. The company is forecasted to report an EPS of $0.05, showcasing a 28.57% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $470.43 million, indicating a 2.09% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.48 per share and a revenue of $2.04 billion, indicating changes of +108.7% and +20.73%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for HudBay Minerals. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 8.9% lower within the past month. Right now, HudBay Minerals possesses a Zacks Rank of #3 (Hold).
In terms of valuation, HudBay Minerals is currently trading at a Forward P/E ratio of 20.15. This signifies a premium in comparison to the average Forward P/E of 16.72 for its industry.
The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 177, positioning it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow HBM in the coming trading sessions, be sure to utilize Zacks.com.