Earnings Estimates Moving Higher for HudBay Minerals (HBM): Time to Buy? - Tale of the Tape

HudBay Minerals, Inc. (HBM) is a Mining company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on HBM’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that HudBay Minerals could be a solid choice for investors.

Current Quarter Estimates for HBM

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HudBay Minerals, Inc.

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NYSE9:55 AM EDT

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In the past 30 days, 3 estimates have gone higher for HudBay Minerals while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 6 cents a share 30 days ago, to 10 today, a move of 40.0%.

Current Year Estimates for HBM

Meanwhile, HudBay Minerals’ current year figures are also looking quite promising, with 4 estimates moving higher in the past month, compared to just 1 lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 49 cents per share 30 days ago to 66 cents per share today, an increase of 34.7%.

Bottom Line

The stock has also started to move higher lately, adding 11.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.

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