Hudbay Minerals Inc (HBM) said after close Wednesday that it earned $0.07 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $480.5 million, missing estimates by $58.3 million.
In the same quarter a year ago, the company lost $0.05 per share on revenue of $346.2 million.
The stock is up 5.62% to $4.42 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Hudbay Minerals Inc has performed a little below average during the past few months. Before the report, Hudbay Minerals Inc received a Long-Term Technical Rank by InvestorsObserver of 29, putting it in the bottom half of stocks. The firm set a 52-week low on May 31, 2023 at $4.12 and set a 52-week high on January 18, 2023 at $6.34.
Hudbay Minerals Inc is a Canadian mining company with its operations, property developments, and exploration activities across the United States. The major mines that Hudbay operates are located in Manitoba, Canada, Arizona, United States; and Peru. The company is principally focused on the discovery, production, and marketing of base and precious metals. Hudbay produces copper concentrate, which contains copper, gold, and silver, as well as zinc metal. More than half the company's revenue is attributable to the copper business. The company sells copper concentrates to smelters across Asia, America, and Europe, and sells Zinc metal, the next biggest source of revenue, to industrial customers across North America.
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Hudbay Minerals Inc Up 5.62% To $4.42 After Earnings Miss
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