HudBay Minerals (HBM) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - HudBay Minerals reported revenue of $485.77 million for the quarter ended September 2024, reflecting a 1.1% increase year-over-year and surpassing the Zacks Consensus Estimate by 3.88% [1] - The company achieved an EPS of $0.13, significantly higher than the $0.07 from the same quarter last year, resulting in an EPS surprise of 160% compared to the consensus estimate of $0.05 [1] Financial Performance Metrics - Copper production in Manitoba reached 3,398 tons, exceeding the average estimate of 2,654.43 tons [3] - Zinc production in Manitoba was 8,069 tons, above the average estimate of 7,732.65 tons [3] - Gold production in Manitoba totaled 62,468 ounces, surpassing the average estimate of 47,181.62 ounces [3] - Silver production in British Columbia was 55,963 ounces, below the average estimate of 89,248.26 ounces [3] - Copper production in British Columbia was 6,736 tons, lower than the average estimate of 8,394.13 tons [3] - Silver production in Manitoba reached 281,397 ounces, exceeding the average estimate of 219,848.7 ounces [3] Revenue Breakdown - Revenue from copper contracts was $261.30 million, which is a 21.8% decrease year-over-year and below the average estimate of $318.46 million [3] - Revenue from zinc contracts was $24.20 million, representing a 36% increase year-over-year and above the average estimate of $21.06 million [3] - Revenue from gold contracts was $176.40 million, reflecting a 37.4% increase year-over-year and exceeding the average estimate of $140.40 million [3] - Revenue from silver contracts was $12.70 million, which is a 23.3% increase year-over-year but below the average estimate of $20.93 million [3] - Revenue from molybdenum contracts was $16.80 million, a 25% decrease year-over-year and above the average estimate of $14.56 million [3] - Total revenue from contracts was $491.40 million, below the average estimate of $531.80 million [3] Stock Performance - HudBay Minerals' shares have declined by 4.3% over the past month, contrasting with a 3% increase in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]