TSE:HBM
Hudbay Minerals (HBM.TO)
Financials 
Technical Analysis 
Jun 4, 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 reviews from experts within the mining and resources sector, with a notable focus on its long-term potential in the copper and gold markets. Several analysts acknowledge the company's aspirations for growth, particularly its plans to increase production by 24% over the coming years and its promising developments in Arizona, specifically the Copper World project. However, there are warnings about the cyclical nature of commodity prices and the risk of potential pullbacks, especially given recent price highs. While there's recognition of the company's sound operational management and solid cash flow, fluctuations in metal stocks and concerns about overvaluation prompt a cautious approach among some experts. Overall, while Hudbay is seen as a significant player with potential upside, market conditions and technical charts suggest careful monitoring is essential.
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 ZechnerNot the highest-quality name. Acquisition in Colorado. Problematic balance sheet, are they paying down debt fast enough for the market? Very leveraged to copper prices. If copper goes to $5, EPS growth on this name is fabulous. Don't buy right now.
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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.