TSE:HBM

Hudbay Minerals (HBM.TO)

37.43
-0.36 (0.95%)
as of Sep 24, 2026, 6:57:22 pm Market Open.
273 watching
0
DON'T BUY
Zinc may be near the bottom. Wouldn't rush into this one although it looks cheap.
COMMENT
Whole year has been a tough market outside of a few areas. This company has suffered from this. Sitting on a lot of cash. Announced they were acquiring Skye Resources (SKR-T) (nickel in Guatemala) and they should add another leg of growth to this story. Not in production and will take some time. Later in 08 and into 09 the growth will be fine.
COMMENT
Recently announced they were acquiring Skye Resources (SKR-T) and the market doesn’t seem to like the price they are paying for it. There’s a lot of fear of the pullback in demand for base metals. Getting to a price where he will be taking a serious look at it.
SHORT
Hard to be excited about this stock. Buying Skye Mine, costs will probably double what they thought.
WATCH
Major zinc producer but also produce lots of copper. Zinc prices have gone down the tube. Feels the price of zinc will come back. Very low multiple. If it bounces off its previous low, take a run at it. Have significant reserves. Perfect takeover for someone.
COMMENT
Down about 20% over the last year. There was takeover speculation in the middle of last year and management has said that if an appropriate offer is made they would be willing to consider. Stable environment in Canada.
COMMENT
As a zinc play you need economic activity. The chart does not look great and that just reflects the North American economy.
COMMENT
Copper price doesn't have a huge amount of downside right now and at levels that is making excellent margins. You could go into this one for the copper, but it is mainly into zinc. Very hard to find a pure copper play these days.
COMMENT
Longer term there could be some improvements in this stock. They have been hit to a greater extent than some of the other copper producers. His long-term outlook for copper is still fairly strong but on a multiple basis, he prefers Teck Cominco (TCK.B-T), which he feels has a more rapid potential for earnings and cash flow increases over the next couple of years.
WATCH
This is very similar to many other companies in the zinc sector. The zinc was incredibly hot a year ago but has suffered a massive selloff. This is one of your bigger and better players. Has been range bound for several months and he doesn't know if this is the bottom. Wooden by now, but would be ready if it starts to move higher and the uptrend will be very quick.
BUY
Earnings have come down but his model price is $31.58, which is a positive 95% differential. Thinks that at around $15 is a bottom. Still has value but earnings have been flattening. Would Buy it here with a $15 Stop.
DON'T BUY
Primarily a zinc company. Doesn't like the idea that this company was hijacked by a hedge fund that got rid of management. Sitting on about $800 million of cash and he is afraid they will be forced to spend the cash on a project that might not turn out well.
BUY
In reference to a comment that the company has been hijacked, 18% of shares are held by one fund that is trying to force them to hand over their cash. Market believes that leadership has changed from a great, methodical, engineering, practical type of man to a more aggressive president using the money and capitalizing on situations. A much revived company. Recently had an interesting extension to its known deposits in Manitoba.
BUY
Good liquidity and diversification of assets.
BUY
Prefers slightly over Tech Cominco (TSK.B-T) as there is more takeover potential.
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