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We recently compiled a list of the 10 Stocks Plummet on Wednesday. In this article, we are going to take a look at where Hudbay Minerals Inc. (NYSE:HBM) stands against the other stocks.
The stock market ended firmer on Wednesday, with all major indices finishing in the green territory as investors weighed news of President Donald Trump’s imposition of a new round of tariffs while digesting minutes of the Federal Reserve.
The Dow Jones rose by 0.16 percent, the S&P 500 increased by 0.24 percent, while the tech-heavy Nasdaq eked out a 0.07 percent gain.
Ten companies bucked a broader market optimism, posting heavy losses, mostly due to disappointing earnings performance last year.
To come up with Wednesday’s worst performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
An aerial view of a copper mine, showing the intricate workings of heavy machinery.
Hudbay Minerals Inc. (NYSE:HBM)
Hudbay Minerals Inc. (NYSE:HBM) dropped for a second day on Wednesday, losing 13.62 percent to finish at $7.74 apiece following mixed earnings results last year, coupled with weak outlook guidance for 2025.
In its earnings release, Hudbay Minerals Inc. (NYSE:HBM) said attributable net income declined by 30.9 percent to $21.2 million in the fourth quarter of 2024 from $30.7 million in the same period last year, as revenues dipped 2.87 percent to $584.9 million from $602.2 million.
However, attributable net income for full-year 2024 increased by 15.5 percent to $76.7 million from $66.4 million in 2023, as revenues grew by 19.6 percent to $2.02 billion from $1.69 billion.
For this year, Hudbay Minerals Inc. (NYSE:HBM) said it expects consolidated copper production to remain stable with 2024 levels at 133,000 tons, but consolidated gold production would be lower than in 2024.
Overall HBM ranks 4th on our list of the stocks that plummeted on Wednesday. While we acknowledge the potential of HBM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than HBM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.
Disclosure: None. This article is originally published at Insider Monkey.