HudBay Minerals (HBM) got here out with quarterly earnings of $0.02 per share, lacking the Zacks Consensus Estimate of $0.09 per share. This compares to lack of $0.15 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of -77.78%. 1 / 4 in the past, it was anticipated that this mining firm would submit earnings of $0.04 per share when it truly produced a lack of $0.06, delivering a shock of -250%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates two instances.
HudBay Minerals, which belongs to the Zacks Mining – Miscellaneous trade, posted revenues of $404.24 million for the quarter ended June 2021, surpassing the Zacks Consensus Estimate by 3.10%. This compares to year-ago revenues of $208.91 million. The corporate has topped consensus income estimates 3 times over the past 4 quarters.
The sustainability of the inventory’s fast worth motion primarily based on the recently-released numbers and future earnings expectations will principally rely on administration’s commentary on the earnings name.
HudBay Minerals shares have misplaced about 5.7% for the reason that starting of the yr versus the S&P 500’s acquire of 18.1%.
What’s Subsequent for HudBay Minerals?
Whereas HudBay Minerals has underperformed the market up to now this yr, the query that involves traders’ minds is: what’s subsequent for the inventory?
There are not any simple solutions to this key query, however one dependable measure that may assist traders tackle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified these days.
Empirical analysis exhibits a robust correlation between near-term inventory actions and traits in earnings estimate revisions. Buyers can observe such revisions by themselves or depend on a tried-and-tested ranking device just like the Zacks Rank, which has a powerful observe report of harnessing the facility of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for HudBay Minerals was unfavorable. Whereas the magnitude and course of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #4 (Promote) for the inventory. So, the shares are anticipated to underperform the market within the close to future. You possibly can see the entire record of in the present day’s Zacks #1 Rank (Sturdy Purchase) shares right here.
It is going to be attention-grabbing to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.10 on $396.46 million in revenues for the approaching quarter and $0.26 on $1.53 billion in revenues for the present fiscal yr.
Buyers must be aware of the truth that the outlook for the trade can have a fabric affect on the efficiency of the inventory as nicely. When it comes to the Zacks Trade Rank, Mining – Miscellaneous is at present within the backside 32% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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HudBay Minerals Inc (HBM): Free Inventory Evaluation Report
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.