HudBay Minerals (HBM) Surges 14.1%: Is This an Indication of Further Gains?

HudBay Minerals (HBM) shares ended the last trading session 14.1% higher at $6.95. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 13.6% loss over the past four weeks.Hudbay shares gained as copper futures for May delivery rose 6.3% to $4.40 per pound yesterday after U.S. President Trump paused his reciprocal tariff package for 90 days. Prices of the metal had tumbled when Trump had announced a slew of tariffs.  This mining company is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of -6.3%. Revenues are expected to be $525.73 million, up 0.1% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For HudBay Minerals, the consensus EPS estimate for the quarter has been revised 3.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on HBM going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>HudBay Minerals belongs to the Zacks Mining - Miscellaneous industry. Another stock from the same industry, McEwen (MUX), closed the last trading session 11.1% higher at $7.29. Over the past month, MUX has returned -9.5%.McEwen's consensus EPS estimate for the upcoming report has changed -14.3% over the past month to -$0.14. Compared to the company's year-ago EPS, this represents a change of +65.9%. McEwen currently boasts a Zacks Rank of #4 (Sell).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them 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 Report McEwen Mining Inc. (MUX): 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