HudBay Minerals (HBM) Beats Stock Market Upswing: What Investors Need to Know

HudBay Minerals (HBM) closed at $15.74 in the latest trading session, marking a +1.88% move from the prior day. This move outpaced the S&P 500's daily gain of 0.01%. Elsewhere, the Dow saw an upswing of 0.51%, while the tech-heavy Nasdaq depreciated by 0.28%. The mining company's stock has climbed by 24.6% in the past month, exceeding the Basic Materials sector's gain of 5.58% and the S&P 500's gain of 4.83%.Investors will be eagerly watching for the performance of HudBay Minerals in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.19, showcasing a 46.15% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $558.33 million, reflecting a 14.94% rise from the equivalent quarter last year. For the full year, the Zacks Consensus Estimates project earnings of $0.84 per share and a revenue of $2.28 billion, demonstrating changes of +75% and +12.97%, respectively, from the preceding year. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for HudBay Minerals. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 1.56% higher within the past month. HudBay Minerals is currently a Zacks Rank #3 (Hold). In the context of valuation, HudBay Minerals is at present trading with a Forward P/E ratio of 18.47. This valuation marks a discount compared to its industry average Forward P/E of 18.68. We can also see that HBM currently has a PEG ratio of 0.37. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Mining - Miscellaneous industry currently had an average PEG ratio of 2.29 as of yesterday's close. The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 41% 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. Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report HudBay Minerals Inc (HBM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks