HudBay Minerals (NYSE:HBM) Issues Quarterly Earnings Results

HudBay Minerals (NYSE:HBM) (TSE:HBM) announced its quarterly earnings data on Thursday. The mining company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01), Zacks reports. HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%.

Here are the key takeaways from HudBay Minerals’ conference call:

• Hudbay reported record third-quarter revenue of $766 million and adjusted EBITDA of $413 million, generating $202 million in free cash flow and ending the quarter with essentially zero net debt. The company reaffirmed 2026 production guidance and lowered its full-year cash-cost and sustaining-cost guidance.
• Operating improvements supported record throughput at Constancia and New Britannia, while Copper Mountain generated its first positive free cash flow since Hudbay acquired it. Management expects consolidated copper production to increase by more than 25% in 2027, though British Columbia costs are tracking toward the high end of guidance and production gains there are expected to be weighted to the second half.
• Hudbay and Mitsubishi made the final investment decision on Copper World, a roughly $2 billion project targeting first production in the second half of 2029. The company expects average annual production of 102,000 tons of copper over the first 10 years, with a financing plan that includes partner investment, a streaming deposit and planned project debt.
• The updated Snow Lake plan projects 37% more gold production over the next five years and extends reserve mine life to 2043. Hudbay also reported promising high-grade exploration results at Constancia that could support its production profile beyond 2030, but follow-up drilling is still underway.

HudBay Minerals Trading Down 1.4%

HBM stock traded down $0.32 on Thursday, reaching $21.62. The company’s stock had a trading volume of 6,368,589 shares, compared to its average volume of 5,393,240. HudBay Minerals has a 12-month low of $14.34 and a 12-month high of $32.15. The business has a fifty day simple moving average of $24.99 and a two-hundred day simple moving average of $24.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24. The firm has a market cap of $9.60 billion, a PE ratio of 12.72, a PEG ratio of 0.40 and a beta of 1.62.

Analyst Ratings Changes

A number of brokerages have weighed in on HBM. Citigroup restated a “positive” rating on shares of HudBay Minerals in a research report on Wednesday, July 15th. Weiss Ratings raised shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, July 30th. Wall Street Zen cut shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Sunday, October 25th. Finally, Barclays restated an “overweight” rating on shares of HudBay Minerals in a research note on Tuesday, October 6th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, HudBay Minerals has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

HudBay Minerals Company Profile

Hudbay Minerals, now known as Hudbay Inc., is a mining company focused on the discovery, development and operation of copper and other metal deposits. Its products include copper, zinc, gold, silver and molybdenum. The company operates the Constancia mine in Peru and mining and processing assets in Manitoba, Canada, including the Lalor mine. In British Columbia, Hudbay operates the Copper Mountain mine. It also advances copper exploration and development projects in the United States, including projects in Arizona.