TSX: HUT The company is known by its full name, Hut 8 Mining Company. HC Wainwright’s equity research analysts updated their forecasts for Hut 8 Mining’s quarterly earnings per share in 2022 for the fourth quarter in a research note distributed to investors on February 8.
The updated forecast was for the fourth quarter of the year.
M. Colonnese, an analyst working for HC Wainwright, has revised his earlier forecast of the company’s quarterly profits per share, moving it from $0.16 to $0.15.
M. Colonnese made the previous forecast.
At this juncture, HC Wainwright views the stock as being in a “neutral” position. Financial analysts agree that Hut 8 Mining will report a loss of $0.52 per share for the entire year.
This forecast is based on the current market environment. HC Wainwright projected that Hut 8 Mining would have earnings of $0.12 per share in the first quarter of 2023, earnings of $0.11 per share in the second quarter of 2023, earnings of $0.10 per share in the third quarter of 2023, earnings of $0.09 per share in the fourth quarter of 2023, and earnings of $0.41 per share for the full fiscal year of 2023.
In a separate piece of news, a report by DA Davidson that was released on November 3 rated Hut 8 Mining as “neutral,” which is a downgrade from the “buy” recommendation previously held.
On Friday morning, the price of a share of Hut 8 Mining was 2.47 Canadian dollars when the trading day began. With a price-to-earnings ratio of -10.12 and an estimated value of 484.66 million Canadian dollars, the company is not a good investment.
The company has a simple moving average of the past 200 days that comes in at 2.36 Canadian dollars, while the same metric for its competitors comes in at 1.84 Canadian dollars. Hut 8 Mining can be purchased for anywhere between $1.08 and $10.53 per unit annually.
The quick ratio is 1.26, the current ratio is 9.57, and the debt-to-equity ratio is 10.16.
All of these numbers are about the company’s liquidity.
These numbers should be interpreted in light of the company’s liquidity.
On November 10, or the 10th of this month, Hut 8 Mining (TSE: HUT) announced its most recent quarterly earnings.
The company announced a loss of $0.14 per share for the period, which was significantly lower than the consensus estimate of $0.01 per share provided by industry analysts.
The revenue for the quarter came in at 31.67 million Canadian dollars, which was below the consensus projection of 37.30 million Canadian dollars for the quarter’s revenue.
The Hut 8 Mining Corp.
Is the name of a mining company that operates in the region known as North America.
The company has a sizeable amount of bitcoin mining activity that it participates in.
In addition, it owns and manages 51 BlockBox locations in Medicine Hat, which is located in the province of Alberta. Furthermore, it owns and manages 38 BlockBox locations in Drumheller, which is also located in Alberta.
In 2011, the Hut 8 Mining Corp. of Canada was established, and it currently conducts its business operations from its headquarters in Toronto.
