In the latest trading session, HudBay Minerals (HBM) closed at $7.27, marking a +1.54% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.47%. Meanwhile, the Dow gained 0.13%, and the Nasdaq, a tech-heavy index, added 0.51%.

Shares of the mining company witnessed a loss of 21.92% over the previous month, trailing the performance of the Basic Materials sector with its loss of 3.94% and the S&P 500's loss of 4.45%.

The investment community will be paying close attention to the earnings performance of HudBay Minerals in its upcoming release. The company is slated to reveal its earnings on August 13, 2024. In that report, analysts expect HudBay Minerals to post earnings of $0.06 per share. This would mark year-over-year growth of 185.71%. In the meantime, our current consensus estimate forecasts the revenue to be $460.38 million, indicating a 47.48% growth compared to the corresponding quarter of the prior year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.59 per share and a revenue of $2.09 billion, indicating changes of +156.52% and +23.94%, respectively, from the former year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for HudBay Minerals. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

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, the Zacks Consensus EPS estimate has moved 0.33% lower. HudBay Minerals is holding a Zacks Rank of #3 (Hold) right now.

With respect to valuation, HudBay Minerals is currently being traded at a Forward P/E ratio of 12.09. This indicates a discount in contrast to its industry's Forward P/E of 12.62.

The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 176, positioning it in the bottom 31% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.

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