We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Mining Stocks Earnings Roster for Feb 22: LUNMF, SLCA & More
Read MoreHide Full Article
Metal prices increased 10% in the fourth quarter, marking it the third consecutive quarter of gains. The gain chiefly came on the back of strong demand led by credit stimulus in China as well as supply constraints. Expectations of higher infrastructure investment and increased optimism for the global economy following the U.S. elections also helped the cause of metals. Consequently, the mining industry seems to have regained its ground in 2016 after a harrowing 2015 that bore the brunt of crash in the commodity prices. The turnaround can primarily be attributed to the commodity upturn that helped renew interest in the industry.
As per the Zacks Industry classification, the mining industry is grouped under the Basic Material sector – one of the 16 broad Zacks sectors. Per the latest Earnings Preview, so far 85% of the companies in the sector (87.3% of total market capitalization) have reported their fourth-quarter results, putting up a 1.8% increase in earnings on the scoreboard. Taking into account all the companies that are yet to report, a 4% increase in earnings is projected for the quarter despite a 3.2% drop in revenues. The Basic sector is one of the 12 broader Zacks sectors that are expected to log positive growth this quarter.
Let’s see what’s in store for these miners that are set to report quarterly numbers on Feb 22.
Diversified base metals mining company, Lundin Mining Corporation (LUNMF - Free Report) is scheduled to report fourth-quarter 2016 results, after the market closes. The company had reported a loss per share of 2 cents in the third quarter, narrower than the prior-year quarter. Further, its top line had improved year over year on the back of higher metal prices.
Recently the company released its 2016 production results. While it met annual production guidance for copper and nickel, zinc production was marginally below the most recent guidance.
Our proven model does not conclusively show that Lundin Mining is likely to beat estimates this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Leading producer of commercial silica used in the oil and gas industry, and in a wide range of industrial applications, U.S. Silica Holdings, Inc. (SLCA - Free Report) is set to release fourth-quarter 2016 results after the closing bell. In the third quarter, the company posted a loss of 13 cents per share, wide compared with a net income of 4 cents in the prior-year quarter. Moreover, revenues dipped 11% year over year.
U.S. Silica has a fairly decent surprise history. The company has beaten the Zacks Consensus Estimate in three of the four trailing quarters, with an average positive earnings surprise of 6.83%.
The Zacks Consensus Estimate for the quarter is pegged at a loss of 10 cents, narrower than the year-ago quarter’s loss of 14 cents per share. Though a Zacks Rank #2 increases the predictive power of ESP, the company’s negative ESP of 20% makes a beat unlikely this quarter. (Read more: U.S. Silica to Post Q4 Earnings: What's in Store?).
Hudbay Minerals Inc. (HBM - Free Report) , an integrated mining company producing copper concentrate (containing copper, gold and silver) and zinc metal, will also report fourth-quarter 2016 results, after the market closes. The company reported an earnings per share of 9 cents, an improvement from the loss per share 5 cents in the prior-year quarter. Revenues also improved 15% in the quarter.
The company posted better-than-expected results in one of the four preceding quarters, while recording in-line results in one and lagging in the other two. Average earnings surprise was a negative 40.39%.
The cost reduction initiatives announced on Feb 24, 2016 are on track to meet company targets for 2016. Based on these efforts and operating results to date, Hudbay anticipates meeting all of its production and operating cost guidance. Though a Zacks Rank #1 increases the predictive power of ESP, the company’s ESP of 0.00% makes surprise prediction difficult.
Silver producer, First Majestic Silver Corp. (AG - Free Report) is engaged in the production, development, exploration, and acquisition of silver mines in Mexico. The company will report fourth-quarter 2016 results before the market opens. In the last reported quarter, the company delivered an impressive increase of 139% in earnings per share while revenues improved 20%.
First Majestic Silver Corp. Price and EPS Surprise
First Majestic Silver has notably delivered a positive earnings surprise of 16.67% on average in the last four quarters.
First Majestic’s production in fourth-quarter 2016 totaled 4.4 million equivalent ounces of silver, a sequential drop of 3%. The Zacks Consensus Estimate for the quarter is pegged at 4 cents per share, reflecting a 300% year-over-year growth.
First Majestic’s Rank #4 (Sell) and negative earnings ESP of 75.00% makes a beat unlikely this quarter.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Mining Stocks Earnings Roster for Feb 22: LUNMF, SLCA & More
Metal prices increased 10% in the fourth quarter, marking it the third consecutive quarter of gains. The gain chiefly came on the back of strong demand led by credit stimulus in China as well as supply constraints. Expectations of higher infrastructure investment and increased optimism for the global economy following the U.S. elections also helped the cause of metals. Consequently, the mining industry seems to have regained its ground in 2016 after a harrowing 2015 that bore the brunt of crash in the commodity prices. The turnaround can primarily be attributed to the commodity upturn that helped renew interest in the industry.
As per the Zacks Industry classification, the mining industry is grouped under the Basic Material sector – one of the 16 broad Zacks sectors. Per the latest Earnings Preview, so far 85% of the companies in the sector (87.3% of total market capitalization) have reported their fourth-quarter results, putting up a 1.8% increase in earnings on the scoreboard. Taking into account all the companies that are yet to report, a 4% increase in earnings is projected for the quarter despite a 3.2% drop in revenues. The Basic sector is one of the 12 broader Zacks sectors that are expected to log positive growth this quarter.
Let’s see what’s in store for these miners that are set to report quarterly numbers on Feb 22.
Diversified base metals mining company, Lundin Mining Corporation (LUNMF - Free Report) is scheduled to report fourth-quarter 2016 results, after the market closes. The company had reported a loss per share of 2 cents in the third quarter, narrower than the prior-year quarter. Further, its top line had improved year over year on the back of higher metal prices.
Recently the company released its 2016 production results. While it met annual production guidance for copper and nickel, zinc production was marginally below the most recent guidance.
Lundin Mining Corp. Price and EPS Surprise
Lundin Mining Corp. Price and EPS Surprise | Lundin Mining Corp. Quote
Our proven model does not conclusively show that Lundin Mining is likely to beat estimates this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Though Lundin Mining’s Zacks Rank #3 increases the predictive power of the ESP, its 0.00% ESP makes surprise prediction difficult. You can see the complete list of today’s Zacks #1 Rank stocks here.
Leading producer of commercial silica used in the oil and gas industry, and in a wide range of industrial applications, U.S. Silica Holdings, Inc. (SLCA - Free Report) is set to release fourth-quarter 2016 results after the closing bell. In the third quarter, the company posted a loss of 13 cents per share, wide compared with a net income of 4 cents in the prior-year quarter. Moreover, revenues dipped 11% year over year.
U.S. Silica Holdings, Inc. Price and EPS Surprise
U.S. Silica Holdings, Inc. Price and EPS Surprise | U.S. Silica Holdings, Inc. Quote
U.S. Silica has a fairly decent surprise history. The company has beaten the Zacks Consensus Estimate in three of the four trailing quarters, with an average positive earnings surprise of 6.83%.
The Zacks Consensus Estimate for the quarter is pegged at a loss of 10 cents, narrower than the year-ago quarter’s loss of 14 cents per share. Though a Zacks Rank #2 increases the predictive power of ESP, the company’s negative ESP of 20% makes a beat unlikely this quarter. (Read more: U.S. Silica to Post Q4 Earnings: What's in Store?).
Hudbay Minerals Inc. (HBM - Free Report) , an integrated mining company producing copper concentrate (containing copper, gold and silver) and zinc metal, will also report fourth-quarter 2016 results, after the market closes. The company reported an earnings per share of 9 cents, an improvement from the loss per share 5 cents in the prior-year quarter. Revenues also improved 15% in the quarter.
HudBay Minerals Inc Price and EPS Surprise
HudBay Minerals Inc Price and EPS Surprise | HudBay Minerals Inc Quote
The company posted better-than-expected results in one of the four preceding quarters, while recording in-line results in one and lagging in the other two. Average earnings surprise was a negative 40.39%.
The cost reduction initiatives announced on Feb 24, 2016 are on track to meet company targets for 2016. Based on these efforts and operating results to date, Hudbay anticipates meeting all of its production and operating cost guidance. Though a Zacks Rank #1 increases the predictive power of ESP, the company’s ESP of 0.00% makes surprise prediction difficult.
Silver producer, First Majestic Silver Corp. (AG - Free Report) is engaged in the production, development, exploration, and acquisition of silver mines in Mexico. The company will report fourth-quarter 2016 results before the market opens. In the last reported quarter, the company delivered an impressive increase of 139% in earnings per share while revenues improved 20%.
First Majestic Silver Corp. Price and EPS Surprise
First Majestic Silver Corp. Price and EPS Surprise | First Majestic Silver Corp. Quote
First Majestic Silver has notably delivered a positive earnings surprise of 16.67% on average in the last four quarters.
First Majestic’s production in fourth-quarter 2016 totaled 4.4 million equivalent ounces of silver, a sequential drop of 3%. The Zacks Consensus Estimate for the quarter is pegged at 4 cents per share, reflecting a 300% year-over-year growth.
First Majestic’s Rank #4 (Sell) and negative earnings ESP of 75.00% makes a beat unlikely this quarter.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>