Hudbay Minerals Inc.
Price History
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About Hudbay Minerals Inc.
Hudbay Minerals Inc. (HBM) is a copper mining company. Our project database tracks 13 projects for Hudbay Minerals Inc. with technical and economic data extracted from company filings. Its flagship Copper World – Extension Case (Pre-Feasibility) carries an after-tax NPV of $2.51B and an IRR of 18.8% over a 37-year mine life.
Overview
Hudbay Minerals Inc. is a Canadian-based integrated mining company producing copper, zinc, and gold with operations in North and South America. The company has been in operation for nearly 100 years and maintains a portfolio of long-life, low-cost operations. Hudbay is committed to responsible mining and creating value for stakeholders in host communities.
Operations
Hudbay operates the Constancia copper mine in Peru, 777 copper-zinc mine and Lalor zinc-gold-copper mine in Manitoba, Canada, along with owned smelting and refining facilities in Manitoba and Arizona. The company produces approximately 150,000 tonnes of copper and 75,000 tonnes of zinc annually, making it a significant mid-tier base metals producer.
Strategy
The company's strategy focuses on safe and responsible operations, advancing the Copper World project to significantly grow copper production, extending mine life at existing operations through exploration success, maintaining strong relationships with Indigenous communities and stakeholders, and pursuing disciplined organic growth. Hudbay emphasizes copper as a core strategic metal.
Key Projects
The Copper World project in Arizona represents Hudbay's most significant growth opportunity with potential for large-scale, long-life copper production. Other projects include Llaguen copper project in Peru (optioned from BHP), New Britannia gold project in Manitoba, and ongoing brownfield expansion studies at existing operations. The company maintains active exploration programs in all jurisdictions.
Primary Commodities
Project Economics
Copper World
- Mineral Reserves
- Total Proven and Probable Reserves: 390 Mt at 0.47% Cu, 103 g/t Mo, 0.023 g/t Au, 5.08 g/t Ag
- Mineral Resources
- Measured & Indicated (inclusive of reserves): 1,236 Mt at 0.40% Cu, 120 g/t Mo, 0.020 g/t Au, 4.12 g/t Ag (4,993 kt Cu); Inferred: 309 Mt at 0.30% Cu (927 kt Cu)
- Royalties / Streams
- Wheaton precious metals stream: $230M deposit + $70M contingent expansion payment for 92.5% of gold and silver, ongoing payments at 15% of spot; JV with Mitsubishi (30%)
Copper World (Base Case)
- Mineral Reserves
- Total Proven and Probable Reserves: 390 Mt at 0.47% Cu, 103 g/t Mo, 0.023 g/t Au, 5.08 g/t Ag
- Mineral Resources
- M&I (inclusive of reserves): 1,236 Mt at 0.40% Cu, 120 g/t Mo, 0.020 g/t Au, 4.12 g/t Ag; Inferred: 309 Mt at 0.30% Cu, 103 g/t Mo, 0.012 g/t Au, 2.69 g/t Ag
- Royalties / Streams
- Wheaton precious metals stream: $230M deposit for 92.5% of gold and silver contained in production, plus $70M additional deposit five years after commercial production subject to 90,000 tpd expansion; ongoing payments 15% of spot. 30% JV partner Mitsubishi.
Copper World – Extension Case
- Mineral Resources
- Utilizes measured and indicated mineral resources totalling 1,048 Mt (1,236 Mt at 0.40% Cu per table)
- Royalties / Streams
- Wheaton precious metals stream: $230M deposit + $70M contingent expansion payment for 92.5% of gold and silver, ongoing payments at 15% of spot; JV with Mitsubishi (30%)
Constancia
Copper Mountain
Llaguen
Mason
Britannia Gold Project (3 Zone, Upper/Lower Britannia, Boundary, Birch)
- Mineral Reserves
- Britannia Gold Project – 3 Zone Probable: 1,153 kt at 2.81 g/t Au (included in Snow Lake total reserves)
- Mineral Resources
- Britannia Gold Project – Inferred: Upper Britannia 3,180 kt at 2.83 g/t Au; Lower Britannia 2,520 kt at 3.44 g/t Au; Boundary 1,420 kt at 2.23 g/t Au; Birch 1,140 kt at 2.51 g/t Au; Total 8,260 kt at 2.87 g/t Au
Snow Lake operations (Lalor mine)
Snow Lake
Snow Lake (Lalor)
Cactus
- Mineral Reserves
- 465 Mt at 0.52% CuT for 5,304 Mlbs CuT (Proven 58 Mt at 0.79% CuT for 1,019 Mlbs CuT; Probable 407 Mt at 0.48% CuT for 4,285 Mlbs CuT)
- Mineral Resources
- Measured & Indicated 1,037 Mt at 0.48% CuT for 10,995 Mlbs CuT (Measured 119 Mt at 0.80% CuT for 2,104 Mlbs CuT; Indicated 918 Mt at 0.44% CuT for 8,891 Mlbs CuT); Inferred 212 Mt at 0.37% CuT for 1,708 Mlbs CuT
Project figures are automatically extracted from company filings and presentations and reflect the most recent disclosure found. They may contain errors — always verify against the linked source document.
How the Economics Evolved
Copper World – Extension Case
2 studies on recordEconomics as disclosed in each successive study. NPV shown in US$ where a currency conversion is available (at each study's own period rate), else in the study's stated currency. Verify against the source filings.
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Financial Metrics
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Frequently Asked Questions
- What does Hudbay Minerals Inc. mine?
- Hudbay Minerals Inc. is focused on Copper, Zinc, Gold.
- What is the economic value of Hudbay Minerals Inc.'s Copper World – Extension Case?
- According to its Pre-Feasibility, Copper World – Extension Case has an after-tax NPV of $2.51B and an IRR of 18.8%.
- How many projects does Hudbay Minerals Inc. have?
- We track 13 projects with extracted technical and economic data for Hudbay Minerals Inc.
Project Analysis
Copper World Feasibility Study: $1.24B NPV, 16.8% IRR
Hudbay Minerals Inc.'s Copper World in Arizona, United States (approx. 50 km southeast of Tucson) has a Feasibility Study outlining an after-tax NPV of $1.24B, an after-tax IRR of 16.8%, and initial capital of $2.07B. The mine plan runs 15 years at about 102000 t Cu (avg years 1-10) per year.
Copper World – Extension Case PFS: $2.51B NPV, 18.8% IRR
Hudbay Minerals Inc.'s Copper World – Extension Case in Arizona, United States (includes unpatented lode and mill site claims / federal lands from year 10) has a Pre-Feasibility Study (PFS) outlining an after-tax NPV of $2.51B, an after-tax IRR of 18.8%, and initial capital of $2.07B. The mine plan runs 37 years at about 101000 t Cu (avg years 1-10); 117,000 t years 11-20 per year.
Copper World (Base Case) Feasibility Study: $1.24B NPV, 16.8% IRR
Hudbay Minerals Inc.'s Copper World (Base Case) in United States, Arizona (approx. 50 km southeast of Tucson) has a Feasibility Study outlining an after-tax NPV of $1.24B, an after-tax IRR of 16.8%, and initial capital of $2.07B. The mine plan runs 15 years at about 102000 t Cu (first 10 years); 84kt yrs 1-5, 120kt yrs 6-10, 95kt LOM avg per year.
Press Releases
Evaluating Hudbay Minerals (TSX:HBM) After Its Strong Recent Share Price Momentum
Recent performance snapshot Hudbay Minerals (TSX:HBM) has drawn fresh attention after a strong run, with the stock up about 38% over the past month and showing a similar gain over the past 3 months. See our latest analysis for Hudbay Minerals. The recent 37.6% 1 month share price return and 51.9% year to date share price return sit alongside a very large 1 year total shareholder return. Together, these suggest strong positive momentum and a sharp shift in how the market is pricing Hudbay...
Barclays Initiates Coverage of Hudbay Minerals (HBM) with an Overweight Rating
Hudbay Minerals Inc. (NYSE:HBM) is one of the 8 Best Natural Resources Stocks to Buy Now. On May 21, 2026, Barclays analyst Richard Garchitorena initiated coverage of Hudbay Minerals Inc. (NYSE:HBM) with an Overweight rating and a $30 price target. Garchitorena said investments in “transformative” technologies and higher trade barriers are driving renewed growth across […]
Hudbay Minerals Inc. Receives Approval for Normal Course Issuer Bid
TORONTO, May 28, 2026 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “Company”) (TSX, NYSE: HBM) announced today that the Toronto Stock Exchange (the “TSX”) has approved its notice of intention to commence a normal course issuer bid (“NCIB”) for its common shares (“Shares”). The NCIB will be made in accordance with the requirements of the Toronto Stock Exchange and applicable securities laws. Pursuant to the NCIB, Hudbay is authorized to acquire up to a maximum of 19,863,997 Shares, r
Canaccord Maintains Buy Rating on Hudbay Minerals (HBM)
Hudbay Minerals Inc. (NYSE:HBM) is one of the 10 Best Performing Canadian Stocks So Far in 2026. On May 4, 2026, Canaccord lowered the firm’s price target on Hudbay Minerals Inc. (NYSE:HBM) to C$40 from C$41 previously and maintained a Buy rating on the shares after the company released its Q1 financial and operating results. […]
Hudbay Minerals Investors Back Pay Plan As Sustainability Focus Meets Valuation Gaps
Hudbay Minerals (TSX:HBM) received strong shareholder approval for its board and executive compensation at its 2026 Annual and Special Meeting. The company released its 2025 annual report, highlighting progress in sustainability, safety, and community initiatives. Hudbay Minerals, trading at CA$32.89, has had a mixed recent share price path, with the stock down 11.6% over the past week and down 7.3% over the past month. Over a longer horizon, the stock is up 19.2% year to date, up 181.6%...
Hudbay Announces Election of Directors at 2026 Annual and Special Meeting of Shareholders
TORONTO, May 19, 2026 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “Company”) (TSX, NYSE: HBM) today announced that each of the nine individuals nominated for election as a director of Hudbay at the Company’s Annual and Special Meeting of Shareholders held on May 19, 2026 (the “2026 AGM”) was elected. The detailed director voting results are set out below: DirectorNumber of Votes FORNumber of Votes AGAINSTPercentage of Votes FORJohn E.F. Armstrong257,475,288422,63099.84%Jeane L. Hul
Hudbay Publishes its 2025 Annual Report “the Gold Standard in Copper”
TORONTO, May 19, 2026 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “Company”) (TSX, NYSE: HBM) today announced the release of its 2025 annual report (“Annual Report”), which provides updates on key business, financial and sustainability initiatives and accomplishments from last year. The sustainability disclosure in the Annual Report is aligned with recognized global reporting standards. “In 2025, across the Company, every business unit and division played a part in helping Hudbay s
Historical 3DIP/AMT Survey Outlines Twin Intrusive Centres and Pipe-Like Porphyry Targets at NovaRed Mining's Wilmac Copper-Gold Project
Vancouver, British Columbia--(Newsfile Corp. - May 13, 2026) - NovaRed Mining Inc. (CSE: NRED) (OTCQB: NREDF) ("NovaRed" or the "Company") is pleased to report results from a combined Induced Polarization / Audio Frequency Magnetotelluric ("IP/AMT") geophysical survey completed in late October 2024 by the previous optionee on the Lamont Grid of the Company's optioned Wilmac copper-gold project (the "Project"). The Project is located within the Quesnel porphyry belt in the Similkameen Mining...
Impressive Earnings May Not Tell The Whole Story For Hudbay Minerals (TSE:HBM)
Hudbay Minerals Inc.'s ( TSE:HBM ) robust earnings report didn't manage to move the market for its stock. Our analysis...
Did Stronger Q1 Earnings and a New Buyback Just Shift Hudbay Minerals' (TSX:HBM) Investment Narrative?
Hudbay Minerals Inc. reported first-quarter 2026 results showing sales of US$757.3 million and net income of US$190.4 million, both higher than a year earlier, while also confirming a quarterly dividend of C$0.01 per share payable in June. Despite lower production volumes across copper, gold, zinc, silver and molybdenum, Hudbay combined stronger earnings with a new 5% normal course issuer bid, signaling management’s confidence in its financial position. We’ll now examine how Hudbay’s...
Quick Facts
- Ticker Symbol
- HBM
- Market Cap
- Small Cap
- Category
- Copper
- Commodities
- Copper, Zinc, Gold
- Headquarters
- Toronto, Canada
- Founded
- 1927
- Employees
- ~4,800
Operating Countries
Producing Assets
- •Constancia (Peru)
- •Snow Lake Operations (Canada)
- •Copper Mountain (USA)
Development Assets
- •Copper World (USA)
- •Mason (USA)
This information is for educational purposes only and does not constitute investment advice. Always conduct your own research before making investment decisions.