In This Article:
In the latest trading session, HudBay Minerals (HBM) closed at $8.74, marking a -0.79% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.54%. At the same time, the Dow lost 1.63%, and the tech-heavy Nasdaq lost 1.63%.
The mining company's shares have seen a decrease of 3.72% over the last month, surpassing the Basic Materials sector's loss of 10.98% and falling behind the S&P 500's loss of 2.2%.
Market participants will be closely following the financial results of HudBay Minerals in its upcoming release. The company is forecasted to report an EPS of $0.26, showcasing a 30% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $630.75 million, up 4.74% from the year-ago period.
Any recent changes to analyst estimates for HudBay Minerals should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 2.49% lower within the past month. At present, HudBay Minerals boasts a Zacks Rank of #3 (Hold).
In the context of valuation, HudBay Minerals is at present trading with a Forward P/E ratio of 9.83. For comparison, its industry has an average Forward P/E of 12.35, which means HudBay Minerals is trading at a discount to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 142, finds itself in the bottom 44% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.