HudBay Minerals (HBM) Stock Dips While Market Gains: Key Facts

HudBay Minerals (HBM) closed at $22.76 in the latest trading session, marking a -1.43% move from the prior day. This change lagged the S&P 500's daily gain of 0.26%. At the same time, the Dow added 0.6%, and the tech-heavy Nasdaq gained 0.25%. Shares of the mining company have appreciated by 21.59% over the course of the past month, outperforming the Basic Materials sector's gain of 8.62%, and the S&P 500's gain of 1.57%.The investment community will be paying close attention to the earnings performance of HudBay Minerals in its upcoming release. The company's earnings per share (EPS) are projected to be $0.3, reflecting a 66.67% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $709.37 million, indicating a 21.28% growth compared to the corresponding quarter of the prior year. For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.76 per share and a revenue of $2.2 billion, signifying shifts of +58.33% and 0%, respectively, from the last year. Investors should also take note of any recent adjustments to analyst estimates for HudBay Minerals. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, HudBay Minerals boasts a Zacks Rank of #3 (Hold). With respect to valuation, HudBay Minerals is currently being traded at a Forward P/E ratio of 17.66. For comparison, its industry has an average Forward P/E of 25.74, which means HudBay Minerals is trading at a discount to the group. The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 65, this industry ranks in the top 27% of all industries, numbering over 250. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Zacks Names #1 Semiconductor StockThis under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.See This Stock Now for Free >>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