TORONTO, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. ("Hudbay" or the "Company") (TSX, NYSE: HBM) is pleased to announce that it has received an Aquifer Protection Permit for the Copper World project ("Copper World") from the Arizona Department of Environmental Quality ("ADEQ"). The company proactively engaged with the ADEQ, ensuring a transparent and thorough permitting process by providing comprehensive and detailed information. The issuance of this permit is a key milestone in the advancement ...

l 100 Print r Monty Rakusen Applied Materials (NASDAQ:AMAT) sells equipment, services and software to the semiconductor and display markets. I think the company is well positioned in the overall semiconductor equipment market, particularly in capturing the growth in HBM, DRAM and advanced packaging. The energy-efficient computing could potentially serve as a long-term growth tailwind for Applied Materials, in my view. I am initiating a 'Buy' rating with a one-year price target of $220 per share. High-bandwi ...

Management's Discussion and Analysis of Results of Operations and Financial Condition For the three and six months ended June 30, 2024 August 12, 2024 TABLE OF CONTENTS Pag e INTRODUCTION This Management's Discussion and Analysis ("MD&A") dated August 12, 2024 is intended to supplement Hudbay Minerals Inc.'s unaudited condensed consolidated interim financial statements and related notes for the three and six months ended June 30, 2024 and 2023 (the "consolidated interim financial statements"). The consolida ...

Financial Data and Key Metrics Changes - Consolidated copper production was 29,000 tons and gold production was 59,000 ounces in Q2 2024, aligning with production expectations for the year [5] - Consolidated cash costs were $1.14 per pound of copper, with improved guidance for 2024 now ranging from $0.90 to $1.10 per pound, down from $1.05 to $1.25 per pound [7][10] - Adjusted EBITDA for the quarter was $145 million, lower than the previous quarter, but trailing 12-month adjusted EBITDA increased to $824 million from $407 million a year ago [8] Business Line Data and Key Metrics Changes - Peru operations produced 19,000 tons of copper and 11,000 ounces of gold, with total ore mined increasing by 38% compared to the prior quarter [11][12] - Manitoba operations achieved production of 43,000 ounces of gold and 2,600 tons of copper, with a decrease in total ore mined by 5% due to production interruptions [15][16] - British Columbia produced 6,700 tons of copper and 4,500 ounces of gold, with cash costs at $2.67 per pound of copper, a 23% decrease from the prior quarter [19] Market Data and Key Metrics Changes - The company expects stronger production in the second half of 2024, with copper production likely below the midpoint of guidance and gold production above the midpoint [6] - The regulatory change in Peru allows mining companies to increase throughput by up to 10%, potentially enhancing future production at Constancia [13] Company Strategy and Development Direction - The company is focused on advancing growth initiatives, including the Copper World project, which has significant copper exposure and attractive project economics [24] - The 3-P plan aims to sanction Copper World, with ongoing efforts to secure necessary permits and engage potential joint venture partners [25][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving production guidance and highlighted strong cost control measures that have improved cash cost guidance [4][7] - The management noted that investor interest has increased, particularly following the successful equity offering, and they anticipate continued positive cash flow generation [58] Other Important Information - The company has reduced net debt by over $550 million in the past 12 months, with a net debt to adjusted EBITDA ratio of 0.8x as of June 30 [10] - Exploration activities are ongoing, with a focus on extending known mineralization and identifying new deposits in Manitoba [26][27] Q&A Session Summary Question: What kind of grade is expected in Peru in the second half of the year? - Management expects grades to increase towards Q4, with Q3 grades slightly higher than Q2 [35][36] Question: Can drilling at Maria Reyna begin immediately after receiving the EIA permit? - Additional steps are required, typically taking about 12 months after the EIA award to start drilling [38] Question: What is the outlook for the new BRIT expansion in Manitoba? - The expansion involves low capital outlay and is focused on throughput enhancements rather than major capital allocation [40][41] Question: What is the current posture on potential acquisitions? - The company remains disciplined in evaluating assets that fit their strategic and financial criteria, focusing on Tier 1 mining jurisdictions [50][52] Question: Were there any strong arguments against the Copper World project during the public comment period? - Comments were generally supportive, with a significant number received in favor of the project [53] Question: Will the permitting process be affected by the upcoming election? - Management is confident that the permitting process will proceed without delays related to the political landscape [54][55] Question: Why does the company trade at a discount to peers? - Investors are awaiting outcomes from the Copper World permitting process, which may contribute to the valuation delta [57][58]

For the quarter ended June 2024, HudBay Minerals (HBM) reported revenue of $425.52 million, up 36.3% over the same period last year. EPS came in at $0.00, compared to -$0.07 in the year-ago quarter. The reported revenue represents a surprise of -7.57% over the Zacks Consensus Estimate of $460.38 million. With the consensus EPS estimate being $0.06, the EPS surprise was -100.00%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall S ...

Company Performance - HudBay Minerals reported break-even quarterly earnings per share, compared to a loss of $0.07 per share a year ago, representing an earnings surprise of -100% [1] - The company posted revenues of $425.52 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 7.57%, but showing an increase from year-ago revenues of $312.17 million [2] - Over the last four quarters, HudBay Minerals has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Movement and Outlook - HudBay Minerals shares have increased by approximately 33.3% since the beginning of the year, outperforming the S&P 500's gain of 12.1% [3] - The company's earnings outlook, including current consensus earnings expectations for upcoming quarters, will be crucial for future stock performance [4] - The current consensus EPS estimate for the coming quarter is $0.11 on revenues of $505.7 million, and for the current fiscal year, it is $0.59 on revenues of $2.09 billion [7] Industry Context - The Mining - Miscellaneous industry, to which HudBay Minerals belongs, is currently ranked in the bottom 34% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact HudBay's stock performance [5][6]

TORONTO, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. ("Hudbay" or the "company") (TSX, NYSE: HBM) today released its second quarter 2024 financial results. All amounts are in U.S. dollars, unless otherwise noted. All production and cost amounts reflect the Copper Mountain mine on a 100% basis, with Hudbay owning a 75% interest in the mine. "The continued execution of our operational plans in the second quarter has positioned us well to achieve our 2024 production guidance, and our exposure to gol ...

In the latest trading session, HudBay Minerals (HBM) closed at $7.27, marking a +1.54% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.47%. Meanwhile, the Dow gained 0.13%, and the Nasdaq, a tech-heavy index, added 0.51%. Shares of the mining company witnessed a loss of 21.92% over the previous month, trailing the performance of the Basic Materials sector with its loss of 3.94% and the S&P 500's loss of 4.45%. The investment community will be paying close a ...

Analysts on Wall Street project that HudBay Minerals (HBM) will announce quarterly earnings of $0.06 per share in its forthcoming report, representing an increase of 185.7% year over year. Revenues are projected to reach $460.38 million, increasing 47.5% from the same quarter last year. The current level reflects a downward revision of 7.7% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial pr ...

HudBay Minerals (HBM) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on August 13, 2024, might help the stock move higher if these key numbers are better than ...