TSE:HBM
Hudbay Minerals (HBM.TO)
Financials 
Technical Analysis 
Jul 5, 2026, 12:00 amThis summary was created by AI, based on 12 opinions in the last 12 months.
Hudbay Minerals (HBM-T) has garnered mixed but generally optimistic reviews from experts regarding its prospects within the copper market. Many analysts agree that the demand for copper remains strong, fueled by global needs and particularly from China, despite potential geopolitical risks in Peru and the cyclical nature of commodities. While some express concerns over recent price movements and recommend caution, others highlight the company's growth potential and solid operational framework, especially in Arizona. The company's management is acknowledged for successfully turning operations around, with an expansion plan aiming for a significant production increase. However, experts disagree on the timing for further investment, with some suggesting to wait for a pullback while others view it as a good long-term hold.
Tough to answer whether to buy. Impressive beat last quarter, much stronger outlook, markedly higher output in Manitoba, affirmed production guidance, positive free cashflow for 5th consecutive quarter. Nice growth. Not pricey at 18.5x 2025 earnings.
Depends on your view of copper. If you think it's going higher (partly due to Trump and partly to lackluster China), then the better view is yes, buy. He's a copper bull over time.
Owns a bit of this, instead of FCX, because it's in Canada and he understands it. Quality of assets not at the standard of FCX, but it's in a safe jurisdiction and he likes management.
Bruce Murray;fill-opacity:1;'/%3e%3cpath%20d='M31%2018.6001V30H8V18.6001L14.1334%2022.4334L19.4999%2014L24.8669%2022.4334L31%2018.6001Z'%20fill='%23EE5432'%20style='fill:%23EE5432;fill:color(display-p3%200.9340%200.3310%200.1956);fill-opacity:1;'/%3e%3c/svg%3e){kind=small}
Premium content
One of his primary holdings right now in the mining sector. Well positioned, given the demand for copper being what it is. Last quarter was probably one of their best ever. Gold production was better than hoped. A good place to look if you want a mid-cap mining company.
Michael SprungPremium contentWe reiterate this Canadian producer of copper and gold with holdings extending into South America as a TOP PICK. We like that cash reserves are growing, while debt is retired. It trades at 11x earnings and 1.5x book. We recommend trailing up the stop (from $9) to $10, looking to achieve $16 -- upside potential of 27%. Yield 0.1%
(Analysts’ price target is $16.40)Premium contentHBM focuses on copper, gold and zinc production with primary production in Peru and Canada. It has benefited from both rising production and prices. Management has used the growing free cash flow to de-lever its balance sheet, while growing cash reserves. We recommend setting a stop-loss at $9, looking to achieve $16 -- upside potential of 28%. Yield 0.1%
(Analysts’ price target is $15.82)Copper's been all over the place, and really down lately on a weaker China. Whole copper complex trades at a premium because they know there's this thirst for copper amid shortages. Materially paid down debt. Trades at discount (4.8) to large-cap peers (5.6). He models 40% EPS at a 31 PE.
Was risky, de-risked to a large extent. Copper's not for the faint of heart. A whippy player, but a winner if it continues to execute well and copper does well.
He wanted exposure to EV and HBM produces copper (for EVs). This has worked veryw ell.
Ross Healy
Huge rally. Has now come down in RSI ranking, along with other metal producers. So far, looks like a correction within an uptrend, holding above the early May low of $11-11.50. Last couple of days, price of copper has started to pick back up again, starting to stabilize, and may see stocks do the same.
It is a top copper play and added copper production at the right point in the cycle. However there is political risk in Peru where it has substantial holdings.
John Zechner'%20fill='%23ffffff'%3e%3cg%20id='Pager'%20transform='translate(423.000000,%201755.000000)'%3e%3cpath%20d='M243.295367,17.286474%20C243.68919,16.9045087%20244.327703,16.9045087%20244.721525,17.286474%20L249,21.4361302%20L253.278475,17.286474%20C253.672297,16.9045087%20254.31081,16.9045087%20254.704633,17.286474%20C255.098456,17.6684393%20255.098456,18.2877274%20254.704633,18.6696927%20L249.35654,23.856763%20C249.159628,24.0477457%20248.840372,24.0477457%20248.64346,23.856763%20L243.295367,18.6696927%20C242.901544,18.2877274%20242.901544,17.6684393%20243.295367,17.286474%20Z'%20id='Path'%20transform='translate(249.000000,%2020.500000)%20scale(-1,%201)%20rotate(-90.000000)%20translate(-249.000000,%20-20.500000)%20'%3e%3c/path%3e%3c/g%3e%3c/g%3e%3c/g%3e%3c/svg%3e)
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Our PAST TOP PICK with HBM has triggered its stop at $11. To remain disciplined, we recommend covering the position at this time. This will result in a net investment loss of 12%, when combined with our previous guidance.