Hudbay Minerals (HBM.TO) Buy, Sell or Hold

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Hudbay Minerals (HBM.TO)

32.90

+0.90 (2.81%)

as of Jul 3, 2026, 7:59:59 pm Market Open.

270 watching

Investor Insights

Jul 5, 2026, 12:00 am

This 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.

Consensus

Positive

Valuation

Fair Value

Similar

FCX

DON'T BUY

Acquiring Copper Mountain, which has a very different risk profile and more leverage. HBM's future is predicated on previous acquisition in Arizona that's been mired in bureaucracy. He's always concerned when development NAV is a high percentage of overall value. Risk of execution becomes more acute. He prefers TECK.B or FM, which are at the stage of reaping rewards of free cashflow.

Unspecified

He likes the metals and materials sector and HudBay as part of the sector. It is holding above the 50 day moving average.

Unspecified

HudBay hasn't had much appreciation by the market for many years and is at a good valuation. However its main mine is in Peru where the politics are creating difficulties. Longer term the companies that mine copper, etc. should do better.

Unspecified

Copper is volatile. He wants more stability in commodities, including growth in China's economy, before buying the mining companies.

BUY

Under pressure, mainly because of South American exposure. He remains a believer. Good news on changes in Canadian assets. Misunderstood company. Disappointing performance, but a buy at current prices.

BUY ON WEAKNESS

Copper's price has plunged in recent days, taking down other metals. Their Manitoba mines are hand-to-mouth, and South American ones still need to be developed. Consider this around $6-7, but it's a lower-quality mining business.

TOP PICK

Lags the group. Laying foundation for future growth. Position in Peru is a bit concerning with recent elections. Current price nowhere near reflects its potential over the next few years. Compelling at current prices. Yield is 0.25%. (Analysts’ price target is $13.76)

PAST TOP PICK

(A Top Pick Mar 09/21, Up 14%) Expecting valuation to catch up to peers. Believes company has lagged other companies in sector. International operations has presented risk in business model. Company has a lot of growth prospects. New operations coming online soon.

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PAST TOP PICK

(A Top Pick Mar 09/21, Up 5%) A slight disappointment. Eventually, they'll be appreciated for their operations: copper in near Tucson and Rosemont could come on stream. Peru remains an overhang, as their government shifts to the left, but they will realize the country needs the cash flow from this industry. Good long-term growth lies ahead.

WEAK BUY

Political changes in Peru are affecting it. Concerns about change in royalty regime. Discount to group, given potential earnings going forward. Well placed in Canada and Latin America. Not a screaming buy, but potential to reach low to mid-teens.

BUY

All the metals companies have come down. The big worry is Chinese growth. The metals have rolled over a little. These things are looking to be at good purchase points. He is taking a look at it again.

BUY

Getting that license in Arizona would be a huge boom for them. They hold great mines and their operations are performing well. They've stumbled a bit in recent years, but overall things are smooth. Peru offers political uncertainty with a new far left-wing government, but it needs Hudbay's operations to keep going. He targets $12-13.

COMMENT

Modelling 229% EPS growth from 2021-2023. Time to buy cyclical stocks is when it's expensive, not when they are cheap. Prices have come down a lot because the Chinese board has recommended to do something about high commodities prices.

BUY

One of his favourites in the group. Peru election could have a modest impact. Manitoba Covid shutdown would be temporary. Considerably more optionality in the last few years. Proving more reserves. Extremely well positioned. Back to mid-teens or higher in the next couple of years.

BUY

Commodities were in a 10-year bear market and only recently reversed. FCX has been the leader, and has just pulled back and is set for another leg up. He also owns FM. All of these will benefit, as we're in a deficit of copper and will be for quite some time. EVs use more copper than traditional vehicles. Should be core in a portfolio.

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Hudbay Minerals (HBM.TO)