TSE:HBM
Hudbay Minerals (HBM.TO)
Financials 
Technical Analysis 
Aug 13, 2026, 12:00 amThis summary was created by AI, based on 13 opinions in the last 12 months.
Hudbay Minerals (HBM) has garnered mixed reviews from various experts, primarily centered around its position in the copper market and exposure to commodity volatility. While some analysts acknowledge the potential of copper driven by enduring demand from China, there are concerns regarding its financial performance and geopolitical risks associated with its Peruvian operations. The stock has exhibited significant upward movement recently but shows signs of potential correction, as indicated by some experts highlighting resistance levels. Additionally, its low yield and the cyclical nature of the commodity market have led to cautious stances from several analysts, suggesting that investors may want to monitor for pullbacks before making decisions. Overall, Hudbay is seen as a long-term player with notable growth prospects, yet it faces various challenges that could impact its valuation and appeal in the near term.
They operate in less politically risky areas like Peru which is expanding, and are not in Africa, and a copper mine in Arizona. Also will develop a project in Alberta. Today, they reached an agreement with the Cree Nation in Alberta--good news. Copper is needed for electricity production and we will likely see more demand in the future.
(Analysts’ price target is $14.56)
Michael Sprung;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 contentOur 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.
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 MurrayPremium 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
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Does have international exposure, so it's not immune to geopolitical risk. A country can look stable at the outset of an investment, but then look different 10 years later. More volatile relative to some peers, so you need a strong stomach. Long-term view still positive.
Still in metals, gold and copper, that will deliver growth going forward. Sees demand for gold getting stronger as we move through the year. Copper is still needed for the electrical and infrastructure grid buildouts.