In the latest close session, HudBay Minerals (HBM) was down 1.19% at $10.83. This change lagged the S&P 500's 0.83% gain on the day. Meanwhile, the Dow experienced a rise of 0.77%, and the technology-dominated Nasdaq saw an increase of 1.02%.
The stock of mining company has risen by 16.97% in the past month, leading the Basic Materials sector's gain of 5.33% and the S&P 500's gain of 4.99%.
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Analysts and investors alike will be keeping a close eye on the performance of HudBay Minerals in its upcoming earnings disclosure. Alongside, our most recent consensus estimate is anticipating revenue of $551.91 million, indicating a 29.7% upward movement from the same quarter last year.
HBM's full-year Zacks Consensus Estimates are calling for earnings of $0.68 per share and revenue of $2.21 billion. These results would represent year-over-year changes of +41.67% and +9.2%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for HudBay Minerals. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 2.72% rise in the Zacks Consensus EPS estimate. HudBay Minerals is currently a Zacks Rank #1 (Strong Buy).
Investors should also note HudBay Minerals's current valuation metrics, including its Forward P/E ratio of 16.15. This represents a discount compared to its industry average Forward P/E of 17.79.
One should further note that HBM currently holds a PEG ratio of 0.31. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Mining – Miscellaneous was holding an average PEG ratio of 0.69 at yesterday's closing price.
The Mining – Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 37% of all 250+ industries.
