HudBay Minerals (HBM) closed at $10.56 in the latest trading session, marking a -1.31% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.52%. Meanwhile, the Dow gained 1%, and the Nasdaq, a tech-heavy index, added 0.52%.
Shares of the mining company have appreciated by 18.23% over the course of the past month, outperforming the Basic Materials sector's gain of 4.06%, and the S&P 500's gain of 5.95%.
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The investment community will be closely monitoring the performance of HudBay Minerals in its forthcoming earnings report. Simultaneously, our latest consensus estimate expects the revenue to be $551.91 million, showing a 29.7% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $0.67 per share and a revenue of $2.2 billion, demonstrating changes of +39.58% and +8.86%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for HudBay Minerals. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.02% higher within the past month. 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 15.88. For comparison, its industry has an average Forward P/E of 18.51, which means HudBay Minerals is trading at a discount to the group.
Investors should also note that HBM has a PEG ratio of 0.31 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Mining – Miscellaneous industry had an average PEG ratio of 0.65.
The Mining – Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 152, finds itself in the bottom 39% echelons of all 250+ industries.
