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Why HudBay Minerals (HBM) Dipped More Than Broader Market Today
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In the latest close session, HudBay Minerals (HBM - Free Report) was down 1.22% at $26.68. This change lagged the S&P 500's daily loss of 0.25%. On the other hand, the Dow registered a loss of 0.86%, and the technology-centric Nasdaq increased by 0.24%.
Prior to today's trading, shares of the mining company had lost 0.04% was narrower than the Basic Materials sector's loss of 8.47% and the S&P 500's loss of 0.42%.
The investment community will be closely monitoring the performance of HudBay Minerals in its forthcoming earnings report. The company's upcoming EPS is projected at $0.34, signifying a 1,033.33% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $769.13 million, indicating a 121.78% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.4 per share and a revenue of $2.88 billion, representing changes of +108.96% and +30.32%, respectively, from the prior year.
Any recent changes to analyst estimates for HudBay Minerals should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 11.31% decrease. As of now, HudBay Minerals holds a Zacks Rank of #3 (Hold).
Looking at valuation, HudBay Minerals is presently trading at a Forward P/E ratio of 19.32. This denotes a premium relative to the industry average Forward P/E of 19.17.
One should further note that HBM currently holds a PEG ratio of 0.46. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Mining - Miscellaneous was holding an average PEG ratio of 0.95 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 189, putting it in the bottom 24% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
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Why HudBay Minerals (HBM) Dipped More Than Broader Market Today
In the latest close session, HudBay Minerals (HBM - Free Report) was down 1.22% at $26.68. This change lagged the S&P 500's daily loss of 0.25%. On the other hand, the Dow registered a loss of 0.86%, and the technology-centric Nasdaq increased by 0.24%.
Prior to today's trading, shares of the mining company had lost 0.04% was narrower than the Basic Materials sector's loss of 8.47% and the S&P 500's loss of 0.42%.
The investment community will be closely monitoring the performance of HudBay Minerals in its forthcoming earnings report. The company's upcoming EPS is projected at $0.34, signifying a 1,033.33% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $769.13 million, indicating a 121.78% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.4 per share and a revenue of $2.88 billion, representing changes of +108.96% and +30.32%, respectively, from the prior year.
Any recent changes to analyst estimates for HudBay Minerals should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 11.31% decrease. As of now, HudBay Minerals holds a Zacks Rank of #3 (Hold).
Looking at valuation, HudBay Minerals is presently trading at a Forward P/E ratio of 19.32. This denotes a premium relative to the industry average Forward P/E of 19.17.
One should further note that HBM currently holds a PEG ratio of 0.46. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Mining - Miscellaneous was holding an average PEG ratio of 0.95 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 189, putting it in the bottom 24% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.