HudBay Minerals (HBM) Flat As Market Sinks: What You Should Know

The latest trading session saw HudBay Minerals (HBM) ending at $9.06, denoting no adjustment from its last day's close. This change was narrower than the S&P 500's daily loss of 0.28%. On the other hand, the Dow registered a loss of 0.61%, and the technology-centric Nasdaq decreased by 0.33%.Heading into today, shares of the mining company had lost 3.62% over the past month, lagging the Basic Materials sector's loss of 3.57% and the S&P 500's gain of 0.41% in that time.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 November 13, 2024. In that report, analysts expect HudBay Minerals to post earnings of $0.05 per share. This would mark a year-over-year decline of 28.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $470.43 million, down 2.09% from the year-ago period.HBM's full-year Zacks Consensus Estimates are calling for earnings of $0.48 per share and revenue of $2.04 billion. These results would represent year-over-year changes of +108.7% and +20.73%, respectively.Investors should also pay attention to any latest changes in analyst estimates for HudBay Minerals. 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.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 8.76% downward. HudBay Minerals currently has a Zacks Rank of #3 (Hold).In terms of valuation, HudBay Minerals is currently trading at a Forward P/E ratio of 18.97. For comparison, its industry has an average Forward P/E of 16.93, which means HudBay Minerals is trading at a premium to the group.The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 170, this industry ranks in the bottom 33% of all industries, numbering over 250.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow HBM in the coming trading sessions, be sure to utilize Zacks.com.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks