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HudBay Minerals Inc

HBM Basic Materials Copper

HudBay Minerals Inc’s revenue for fiscal 2025 (year ended December 2025) was $2.2 billion, up 9.39% from fiscal 2024.

Revenue
+17.7%
EPS
+13.3%
Free cash flow
+4.51%
Total debt
−19.5%

Quarter to June 2026, against a year earlier

20.75 1.47 −6.62%
Market cap
$9.1B
P/E
12.2×
Fwd P/E
13.7×
Dividend yield
0.11%
F-score
7/9
Altman Z
2.51
Beneish M
−2.13
Dividend safety
66/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 9,140.00
Revenue ttm 2,468.30
Net income ttm 680.00
Free cash flow ttm 282.80
Net debt Q (58.00)
Valuation
P/E 12.21
Forward P/E 13.70
Price / sales 3.37
Forward P/S Powerpack
Price / FCF 29.38
Price / book 1.58
Financial health
Current ratio Q 2.24 (at or above 1.5: strong)
Debt / equity Q 0.17 (at or below 0.5: strong)
Interest coverage Q 16.52
Growth
Revenue growth Q +17.69% (above 0%: growing)
Operating income growth Q +43.50% (above 0%: growing)
EPS, this year +128.48% (at or above 15%: strong)
EPS, next year A +29.10% (at or above 15%: strong)
Revenue, next year A +47.55% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +46.63% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.5×, against a ten-year median of 1.9×; over the ten years it ranged from 1.0× in 2020 to 5.3× in 2026.
P/E against its own 10 years 14.04%
10-year low 10-year high
P/S against its own 10 years 91.75%
10-year low 10-year high
P/B against its own 10 years 88.78%
10-year low 10-year high
EV/Sales against its own 10 years 91.53%
10-year low 10-year high
EV/FCF against its own 10 years 76.17%
10-year low 10-year high

Dividends

Yield
0.11%
Annual rate
0.02
Payout ratio
1.28%
Growth, 2017–25
−1.25%/yr
  1. 0.02 ’17
  2. 0.02 ’18 −2
  3. 0.02 ’19 −3
  4. 0.01 ’20 −1
  5. 0.02 ’21 +7
  6. 0.02 ’22 −3
  7. 0.01 ’23 −5
  8. 0.01 ’24 +1
  9. 0.01 ’25 −4
  10. 0.03 ’26e +86
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 254 597 570 944
Receivables 206 237 379 208
Inventory 207 197 199 190
Other — — — —
673 1,049 1,163 1,356
2023 2024 2025 Q'26
Payables 239 270 343 318
ST’ Debt — — 472 —
Other 182 173 335 226
537 537 1,229 605

Compound Annual Growth %

10y 5y 3y
Sales 9.58% 15.14% 14.80%
Cash Flow 14.31% 24.18% 13.18%
Earnings 0.00% 0.00% 100.64%
Book Value 6.10% 13.71% 27.15%

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate 0.30 Actual 0.28

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2025 0.06 0.03 Miss by 0.03
Dec 2025 0.40 0.22 Miss by 0.18
Mar 2026 0.34 0.40 Beat by 0.06
Jun 2026 0.30 0.28 Miss by 0.02
Sep 2026 0.35 — Reports 12 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.48 0.34 — — —
’25 0.25 0.30 0.56 0.32 1.44
’24 0.05 (0.05) 0.13 0.05 0.20
’23 0.02 (0.05) 0.13 0.10 0.22
’22 0.24 0.12 (0.03) (0.07) 0.27
’21 (0.23) (0.01) (0.65) (0.04) (0.93)
’20 (0.29) (0.20) (0.09) 0.03 (0.55)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 757 631 — — —
’25 595 536 347 733 2,211
’24 525 426 486 585 2,021
’23 295 312 480 602 1,690
’22 379 415 346 321 1,461
’21 314 404 359 425 1,502
’20 245 209 316 322 1,092
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 211 297 — — —
’25 125 260 113 209 707
’24 140 140 148 238 666
’23 71 25 152 229 477
’22 63 166 173 86 488
’21 52 96 140 97 385
’20 9 31 78 121 239
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 71 144 — — —
’25 32 137 3 66 238
’24 77 51 50 140 317
’23 6 (41) 83 148 197
’22 11 87 87 (2) 183
’21 (31) (4) 74 (6) 33
’20 (42) (16) (67) 3 (122)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,129 1,402 1,472 1,237 1,092 1,502 1,461 1,690 2,021 2,211 2,468 +7.8% 3,262 3,780 3,880 +20.6%
Gross margin, % 19.75 29.18 25.38 12.25 3.57 8.72 18.95 23.22 27.40 33.61 39.40 +13.9 pt
EBT 6 173 171 (453) (179) (203) 96 152 252 912 1,167 +76.1%
EBT margin, % 0.50 12.33 11.60 (36.59) (16.39) (13.50) 6.56 8.98 12.45 41.25 47.28 +40.8 pt
Net income (35) 140 85 (344) (145) (244) 70 70 68 564 680 n/m
Per share, $
Per share, $ Revenue 4.79 5.76 5.64 4.74 4.18 5.74 5.58 5.44 5.36 5.59 6.17 +1.7%
Earnings (0.15) 0.57 0.33 (1.32) (0.55) (0.93) 0.27 0.22 0.20 1.44 1.70 n/m
Cash flow 2.01 2.22 1.84 1.19 0.92 1.47 1.86 1.53 1.77 1.79 2.08 (1.3%)
Capex (0.82) (1.03) (0.73) (0.99) (1.38) (1.35) (1.16) (0.90) (0.93) (1.19) (1.37) +4.2%
Free cash flow 1.20 1.19 1.10 0.20 (0.47) 0.13 0.70 0.63 0.84 0.60 0.71 (7.4%)
Book value 7.48 8.67 8.34 7.07 6.51 5.65 6.00 7.10 7.03 8.17 13.14 +1.0%
Shares, m 236 244 261 261 261 261 262 311 377 396 397 +5.9%
Valuation, ×
Valuation, × P/E 0.00 15.64 14.45 0.00 0.00 0.00 19.58 27.30 45.00 13.88 12.21 13.6
P/S 1.25 1.60 0.84 0.88 1.67 1.26 0.91 1.00 1.51 3.55 3.37 1.4
P/B 0.80 1.06 0.57 0.59 1.08 1.28 0.85 0.77 1.15 2.43 1.58 1.1
EV/Sales 2.22 2.10 1.19 1.42 2.37 1.91 1.61 1.66 1.79 3.76 3.53 2.0
EV/FCF 8.88 10.16 6.09 33.95 (21.25) 87.39 12.85 14.25 11.33 34.98 30.84 19.9
Cash, $m
Cash, $m Operating cash flow 475 540 480 311 239 385 488 477 666 707 831 +4.5%
Capex (193) (250) (191) (259) (361) (352) (305) (280) (349) (469) (548) +10.4%
Free cash flow 282 290 289 52 (122) 33 183 197 317 238 283 (1.9%)
Balance, $m
Balance, $m Working capital 122 251 445 271 307 148 77 136 511 (66) 752 n/m
Net debt 1,092 705 530 669 757 979 1,019 1,095 555 468 (58) (9.0%)
Shareholders’ equity 1,763 2,112 2,179 1,848 1,700 1,477 1,572 2,207 2,647 3,231 5,261 +7.0%
Returns, %
Returns, % ROA (0.79) 3.04 1.81 (7.52) (3.17) (5.26) 1.57 1.38 1.42 9.71 9.91 +10.5 pt
ROIC 3.72 7.82 6.90 (7.17) (0.95) 0.46 5.17 5.62 7.81 15.48 13.25 +11.8 pt
ROE (1.98) 7.21 3.98 (17.08) (8.15) (15.38) 4.62 3.51 3.16 19.34 16.70 +21.3 pt
People
People Employees 2,040 2,219 2,180 2,236 2,530 2,505 2,241 2,708 2,803 3,072 — +4.7%
Revenue/emp, $m 0.55 0.63 0.68 0.55 0.43 0.60 0.65 0.62 0.72 0.72 — +3.0%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

HudBay Minerals Inc vs peers in Copper (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SCCO Southern Copper Corporation $141.1B 21.7× 22.2× +39.06% (above 0%: growing) +59.26% (above 0%: growing) +41.15% (above 0%: growing) 65.95% 59.94% Compare
FCX Freeport-McMoRan Inc. $83.2B 28.7× 19.6× +8.23% (above 0%: growing) +28.30% (above 0%: growing) +25.50% (above 0%: growing) 33.75% 31.18% Compare
HBM HudBay Minerals Inc $9.1B 12.2× 13.7× +17.69% (above 0%: growing) +13.33% (above 0%: growing) +4.51% (above 0%: growing) 42.61% 34.80%
ERO Ero Copper Corp. $2.9B 10.1× 6.5× +110.39% (above 0%: growing) +35.06% (above 0%: growing) +441.33% (above 0%: growing) 40.25% 35.04% Compare
IE Ivanhoe Electric Inc. $1.1B — (loss-making) — (loss-making) +29.91% (above 0%: growing) n/m −57.43% (below 0%: shrinking) 54.10% (4,071.05%) Compare
LCU Lion Copper Corp. $70.2M — (loss-making) — — n/m −376.65% (below 0%: shrinking) — 0.00% Compare
COPR Idaho Copper Corporation $23.1M — (loss-making) — — n/m −2,323.48% (below 0%: shrinking) 0.00% 0.00% Compare
Median of peers $2.0B 21.7× 19.6× +34.49% +35.06% −15.97% 40.25% 15.59%

All 7 Copper stocks →

HudBay Minerals Inc (HBM) Latest News

3 Nov

Impact 4 · · GlobeNewswire

29 Oct

Impact 3 · · Zacks

23 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Trefis

22 Oct

Impact 4 · · Investing.com

21 Oct

Impact 4 · · mining-technology.com
Impact 4 · · GlobeNewswire

16 Oct

Impact 3 · · Zacks
Impact 3 · · Zacks

6 Oct

Impact 3 · · Zacks

30 Sep

Impact 3 · · Zacks

29 Sep

Impact 5 · · MarketBeat

28 Sep

Impact 4 · · MT Newswires
Impact 4 · · GlobeNewswire

24 Sep

Impact 3 ·

19 Sep

Impact 4 ·

13 Aug

Impact 3 ·

3 Aug

Impact 3 ·

30 Jul

Impact 3 · · MarketBeat transcript

29 Jul

Impact 4 ·
Impact 4 ·
Impact 3 ·
Impact 3 ·

28 Jul

Impact 3 ·

20 Jul

Impact 3 ·

10 Jul

Impact 4 ·
Impact 4 ·
Impact 4 ·

3 Jul

Impact 4 ·

2 Jul

Impact 3 ·

HBM metrics, ten years each

stockrow.com/HBM · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com