HBM
Hudbay Minerals Inc.

Hudbay Minerals Inc.HBM

Basic Materials · Copper
20.91USD
+1.60%
Nov 08, 2026
HBM overview ready
Primary Copper Producer Supporting Electrification Infrastructure
Primary copper producer with operating mines in Peru and Canada, complemented by gold, zinc, silver and molybdenum production, and a North American copper-growth project pipeline.
Primary theme is lagging
Critical Materials is lagging (-15.2pp vs SPY over 21 sessions; 0 of 14 members ahead of SPY).
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Commodity price volatility.
Market Nov 6Price action Nov 7Research Oct 10

Conviction Level

PriceAction3.4BusinessPerformance—BusinessQuality—Valuation5.9ThemeMomentum1.0Business Performance not yet available.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−15.2pp
Theme return
−20.2%
Beating SPY
0 of 14
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryWeak / unconfirmed recovery

The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.

Key Financials

Market Cap
$9.3B
Avg Volume (60D)
4.6M
60 sessions
Revenue Growth YoY
+14.6%
Trailing twelve months
Gross Margin
+56.6%
Operating Margin
+31.6%
Trailing twelve months
Free Cash Flow Yield
+4.8%
Distance from 200DMA
-15.6%
Next Earnings
2026-11-12
P/E
12.3x
EV / EBITDA
8.1x
EV / Sales
3.7x
Market metrics as of Nov 7, 2026

Business Performance

Business Quality

Not assessed

Not assessed — the company files under a regime the financial record does not cover yet.

Fundamentals & Valuation

Both valuation perspectives agree this company is fair.
Hudbay Minerals Inc. has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

Company Research

Thesis
Primary copper producer with operating mines in Peru and Canada, complemented by gold, zinc, silver and molybdenum production, and a North American copper-growth project pipeline.
Opportunity
High opportunity
Mine-supply growth and geographically diversified copper production required to support expanding electricity networks, electrified transport, renewable generation, industrial electrification and digital infrastructure while mitigating long development timelines and concentrated supply risks.
Key risk
Commodity price volatility.

Economic classification

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Business & Markets

Basic Materials · Copper
What they do

Hudbay Minerals Inc. is a diversified mining company that explores, develops, operates, and optimizes mining properties in North and South America, primarily producing copper concentrates along with gold, zinc, molybdenum, and silver.

How it earns

The company generates revenue through the sale of mined metal concentrates and related byproducts.

Products & services
Copper concentrates
Gold
Zinc
Molybdenum concentrates
Silver
Customers & end markets
Metals smelters and refiners
Industrial manufacturers
Commodity traders
Market position

A primary copper producer with geographically diversified operations in Canada and Peru and a pipeline of North American copper growth projects.

Demand drivers
High cyclicality

Mining commodity prices and demand are subject to global economic cycles and metal price volatility.

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