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In the latest market close, HudBay Minerals (HBM) reached $8.29, with a +1.72% movement compared to the previous day. The stock lagged the S&P 500's daily gain of 1.77%. On the other hand, the Dow registered a gain of 1.42%, and the technology-centric Nasdaq increased by 2.28%.
Heading into today, shares of the mining company had gained 14.79% over the past month, outpacing the Basic Materials sector's loss of 0.29% and the S&P 500's loss of 5.73% in that time.
Market participants will be closely following the financial results of HudBay Minerals in its upcoming release. On that day, HudBay Minerals is projected to report earnings of $0.16 per share, which would represent no growth from the year-ago period. Alongside, our most recent consensus estimate is anticipating revenue of $529.47 million, indicating a 0.85% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.56 per share and a revenue of $2.09 billion, signifying shifts of +16.67% and +3.62%, respectively, from the last year.
Any recent changes to analyst estimates for HudBay Minerals should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, 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 24.01% lower within the past month. HudBay Minerals presently features a Zacks Rank of #3 (Hold).
Looking at valuation, HudBay Minerals is presently trading at a Forward P/E ratio of 14.55. For comparison, its industry has an average Forward P/E of 12.8, which means HudBay Minerals is trading at a premium to the group.
We can also see that HBM currently has a PEG ratio of 0.49. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Mining - Miscellaneous industry had an average PEG ratio of 0.49.