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. In the quarter to June 2026, revenue grew 17.7%, EPS grew 13.3%, free cash flow grew 4.51% and total debt fell 19.5%, each against the same quarter a year earlier. Revenue growth for three consecutive years.

23.62 0.60 −2.48%
Market cap
$10.8B
P/E
13.9×
Fwd P/E
14.4×
Dividend yield
0.09%
F-score
7/9
Altman Z
2.51
Beneish M
−2.13
Dividend safety
66/100

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 10,760.00
Revenue 2,468.30
Net Income 680.00
Free Cash Flow 282.80
Net Debt (58.00)
Current Ratio 2.24 (at or above 1.5: strong)
Debt/Equity 0.17 (at or below 0.5: strong)
P/E ratio 13.89
Fwd P/E 14.40
P/S ratio 3.83
P/B ratio 1.80
Past 5Y EPS Growth —
This Y EPS Growth 131.59% (at or above 15%: strong)
Next Y EPS Growth 27.68% (at or above 15%: strong)
Next Y revenue growth 49.61% (at or above 10%: strong)
Next 5Y EPS Growth 47.03% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 23.11%
10-year low 10-year high
P/S against its own 10 years 94.47%
10-year low 10-year high
P/B against its own 10 years 90.64%
10-year low 10-year high
EV/Sales against its own 10 years 94.58%
10-year low 10-year high
EV/FCF against its own 10 years 80.77%
10-year low 10-year high

Dividends

Payout Ratio 0.01
Annual Dividend Rate 0.02
Annual Dividend Yield 0.09%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.03
0.01
0.01
0.01
2025 0.01
0.01
0.01
2024 0.01
0.01
0.01
2023 0.01
0.01
0.01
2022 0.02
0.01
0.01
2021 0.02
0.01
0.01
2020 0.01
0.01
0.01
2019 0.02
0.01
0.01
2018 0.02
0.01
0.01
2017 0.02
0.01
0.01
2016 0.02
0.01
0.01
predictions special payouts not included in total or ratios

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%

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.

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.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 1.56 4.60 3.44 2.99 1.23 5.22 3.08 3.94 4.94 5.95

Analyst estimates 2026–2028

Powerpack
High 7.35 9.35 10.25 7.83 7.47 9.60 8.75 6.34 10.49 20.32
People
People Employees 2,040 2,219 2,180 2,236 2,530 2,505 2,241 2,708 2,803 3,072
Revenue/emp, $m 0.55 0.63 0.68 0.55 0.43 0.60 0.65 0.62 0.72 0.72
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
Gross margin, % 19.75 29.18 25.38 12.25 3.57 8.72 18.95 23.22 27.40 33.61
EBT 6 173 171 (453) (179) (203) 96 152 252 912
EBT margin, % 0.50 12.33 11.60 (36.59) (16.39) (13.50) 6.56 8.98 12.45 41.25
Net income (35) 140 85 (344) (145) (244) 70 70 68 564
Depreciation 299 209 240 271 290 287 266 328 371 379
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
Earnings (0.15) 0.67 0.33 (1.32) (0.55) (0.93) 0.27 0.22 0.20 1.44
Cash flow 2.01 2.22 1.84 1.19 0.92 1.47 1.86 1.53 1.77 1.79
Capex (0.82) (1.03) (0.73) (0.99) (1.38) (1.35) (1.16) (0.90) (0.93) (1.19)
Free cash flow 1.20 1.19 1.10 0.20 (0.47) 0.13 0.70 0.63 0.84 0.60
Book value 7.48 8.67 8.34 7.07 6.51 5.65 6.00 7.10 7.03 8.17
Shares, m 236 244 261 261 261 261 262 311 377 396
Valuation, ×
Valuation, × P/E 0.00 15.64 14.45 0.00 0.00 0.00 19.58 27.30 45.00 13.88
P/S 1.25 1.60 0.84 0.88 1.67 1.26 0.91 1.00 1.51 3.55
P/B 0.80 1.06 0.57 0.59 1.08 1.28 0.85 0.77 1.15 2.43
EV/Sales 2.22 2.10 1.19 1.42 2.37 1.91 1.61 1.66 1.79 3.76
EV/FCF 8.88 10.16 6.09 33.95 (21.25) 87.39 12.85 14.25 11.33 34.98
Cash, $m
Cash, $m Operating cash flow 475 540 480 311 239 385 488 477 666 707
Capex (193) (250) (191) (259) (361) (352) (305) (280) (349) (469)
Free cash flow 282 290 289 52 (122) 33 183 197 317 238
Balance, $m
Balance, $m Working capital 122 251 445 271 307 148 77 136 511 (66)
Total debt 1,242 1,064 1,055 1,067 1,200 1,258 1,245 1,349 1,152 1,038
Net debt 1,092 705 530 669 757 979 1,019 1,095 555 468
Shareholders’ equity 1,763 2,112 2,179 1,848 1,700 1,477 1,572 2,207 2,647 3,231
Returns, %
Returns, % ROA (0.79) 3.04 1.81 (7.52) (3.17) (5.26) 1.57 1.38 1.42 9.71
ROIC 3.72 7.82 6.90 (7.17) (0.95) 0.46 5.17 5.62 7.81 15.48
ROE (1.98) 7.21 3.98 (17.08) (8.15) (15.38) 4.62 3.51 3.16 19.34
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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 $170.3B 29.3× 23.5× +40.58% (above 0%: growing) +64.75% (above 0%: growing) +111.27% (above 0%: growing) 67.60% 61.16% Compare
FCX Freeport-McMoRan Inc. $100.7B 34.1× 26.2× −7.29% (below 0%: shrinking) +28.30% (above 0%: growing) +1.07% (above 0%: growing) 31.10% 28.50% Compare
HBM HudBay Minerals Inc $10.8B 13.9× 14.4× +17.69% (above 0%: growing) +13.33% (above 0%: growing) +4.51% (above 0%: growing) 42.61% 34.80%
ERO Ero Copper Corp. $3.6B 12.2× 5.9× +110.39% (above 0%: growing) +35.06% (above 0%: growing) +441.33% (above 0%: growing) 40.25% 35.04% Compare
IE Ivanhoe Electric Inc. $1.4B — (loss-making) — (loss-making) −32.21% (below 0%: shrinking) n/m −88.00% (below 0%: shrinking) 50.83% (2,966.85%) Compare
Median of peers $52.2B 29.3× 23.5× +16.65% +35.06% +56.17% 45.54% 31.77%

All 5 Copper stocks →

HudBay Minerals Inc (HBM) key facts

  • Strength: HudBay Minerals Inc’s revenue for fiscal 2025 (year ended December 2025) was $2.2 billion, up 9.39% from fiscal 2024.
  • HudBay Minerals Inc (HBM) is a Copper company in the Basic Materials sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, HBM traded at $23.62, a market capitalization of $10.8 billion.
  • HudBay Minerals Inc pays an annual dividend of $0.02 per share, a yield of 0.09%, with a payout ratio of 1.28%.
  • Return on equity was 19.3% and debt-to-equity 0.17.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 2.51 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

HudBay Minerals Inc (HBM) Latest News

10 Aug

stockrow.com/HBM · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com