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

Core Viewpoint - HudBay Minerals is facing a challenging earnings outlook with expected declines in both earnings per share and revenue for the upcoming report on November 13, 2024 [2][3]. Group 1: Recent Performance - HudBay Minerals' stock closed at $9.06, unchanged from the previous day, while the S&P 500, Dow, and Nasdaq experienced losses of 0.28%, 0.61%, and 0.33% respectively [1]. - Over the past month, HudBay Minerals' shares have decreased by 3.62%, underperforming the Basic Materials sector's loss of 3.57% and the S&P 500's gain of 0.41% [1]. Group 2: Earnings Expectations - Analysts anticipate HudBay Minerals will report earnings of $0.05 per share, reflecting a year-over-year decline of 28.57% [2]. - The Zacks Consensus Estimate for revenue is projected at $470.43 million, down 2.09% from the previous year [2]. Group 3: Full-Year Estimates - For the full year, Zacks Consensus Estimates predict earnings of $0.48 per share and revenue of $2.04 billion, indicating year-over-year increases of 108.7% and 20.73% respectively [3]. - Recent changes in analyst estimates are crucial as they often indicate shifts in business trends, with positive revisions suggesting optimism about the company's profitability [3]. Group 4: Valuation Metrics - HudBay Minerals is currently trading at a Forward P/E ratio of 18.97, which is higher than the industry average of 16.93, indicating a premium valuation [6]. - The Mining - Miscellaneous industry, part of the Basic Materials sector, has a Zacks Industry Rank of 170, placing it in the bottom 33% of over 250 industries [6]. Group 5: Analyst Ratings - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), currently rates HudBay Minerals at 3 (Hold) [5]. - Over the past month, the Zacks Consensus EPS estimate has decreased by 8.76%, reflecting a cautious outlook from analysts [5].