HBM

MKT CAP:$10B

Hudbay Minerals Inc.

Market Cap

$10B

Basic Materials·Copper·🇨🇦 Canada·NYSE

Materials·Copper·🇨🇦·NYSE

Stock Price

$25.88+$5.78 (+28.76%)

Apr 17, 2026

Company Details

Hudbay Minerals Inc., a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing coppe...

CEO

Peter Gerald Jan Kukielski

IPO Date

Feb 13, 2009

Website

www.hudbayminerals.com

Key Metrics TTM

Revenue

$1.7B

+15.7% YoY

Net Income

$343M

EPS (Diluted)

$0.86

Free Cash Flow

$10M

Revenue / Share

$4.23

Gross Margin

23.7%

Operating Margin

37.2%

Net Margin

20.3%

FCF Margin

0.6%

P/S

5.7x

P/E

28.0x

Earnings Reports

Q1 2026

May 1, 2026

PENDING

FY 2025

Dec 30, 2025

$2.2BEPS $1.46

Q4 2025

Feb 23, 2026

$737MEPS $0.33

Q3 2025

Nov 13, 2025

$347MEPS $0.56

Q2 2023

Jun 30, 2023

$312M-24.9%EPS -$0.05

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 20	$245M	-$22M	-$38M
Q2 20	$209M	-$13M	-$27M
Q3 20	$316M	$39M	$21M
Q4 20	$322M	$117M	$7M
Q1 21	$314M	$53M	$39M
Q2 21	$404M	$82M	$59M
Q3 21	$359M	-$85M	-$118M
Q4 21	$425M	$202M	$38M
Q1 22	$379M	$85M	$126M
Q2 22	$415M	$90M	$46M
Q3 22	$346M	$32M	$20M
Q4 22	$321M	$145M	$22M
Q1 23	$295M	$67M	$52M
Q2 23	$312M	$23M	-$228.0K
Q3 25	$347M	$65M	$335M
Q4 25	$737M	$246M	$242M

Valuation

Quarter	P/S	P/E
Q1 20	8.3x	—
Q2 20	8.9x	—
Q3 20	9.1x	—
Q4 20	8.8x	—
Q1 21	8.3x	—
Q2 21	7.1x	—
Q3 21	6.9x	—
Q4 21	6.4x	—
Q1 22	6.1x	—
Q2 22	6.1x	—
Q3 22	6.1x	124.3x
Q4 22	6.6x	136.6x
Q1 23	7.0x	799.5x
Q2 23	7.5x	—
Q3 25	7.5x	49.2x
Q4 25	5.7x	28.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 20	$9M	-$42M
Q2 20	$31M	-$16M
Q3 20	$78M	-$67M
Q4 20	$121M	$3M
Q1 21	$52M	-$31M
Q2 21	$96M	-$4M
Q3 21	$140M	$52M
Q4 21	$96M	-$9M
Q1 22	$63M	$11M
Q2 22	$166M	$87M
Q3 22	$173M	$83M
Q4 22	$86M	-$2M
Q1 23	$71M	$6M
Q2 23	$25M	-$41M
Q3 25	$114M	$3M
Q4 25	$188M	$42M

Capital Expenditures

Quarter	CapEx
Q1 20	$51M
Q2 20	$48M
Q3 20	$144M
Q4 20	$118M
Q1 21	$83M
Q2 21	$101M
Q3 21	$87M
Q4 21	$105M
Q1 22	$52M
Q2 22	$79M
Q3 22	$90M
Q4 22	$89M
Q1 23	$65M
Q2 23	$66M
Q3 25	$110M
Q4 25	$145M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 20	-30.3%	-4.6%
Q2 20	-28.5%	-13.5%
Q3 20	-4.0%	-11.5%
Q4 20	+10.6%	-47.7%
Q1 21	+28.0%	-3.1%
Q2 21	+93.5%	+46.6%
Q3 21	+13.6%	+61.4%
Q4 21	+31.9%	+22.7%
Q1 22	+20.7%	-7.9%
Q2 22	+2.8%	+6.9%
Q3 22	-3.6%	-31.6%
Q4 22	-24.5%	-22.7%
Q1 23	-22.0%	-4.0%
Q2 23	-24.9%	-15.5%
Q3 25	+0.2%	-96.4%
Q4 25	+129.5%	+65.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 20	-$3M	-1.1%
Q2 20	$4M	1.7%
Q3 20	$5M	1.5%
Q4 20	$9M	2.9%
Q1 21	$2M	0.6%
Q2 21	$2M	0.6%
Q3 21	$2M	0.4%
Q4 21	$7M	1.5%
Q1 22	$3M	0.9%
Q2 22	-$8M	-1.8%
Q3 22	$2M	0.7%
Q4 22	$4M	1.2%
Q1 23	$1M	0.4%
Q2 23	$705.0K	0.2%
Q3 25	$20M	5.8%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	SG&A
Q1 20	$5M
Q2 20	$11M
Q3 20	$11M
Q1 21	$10M
Q2 21	$10M
Q3 21	$9M
Q1 22	$12M
Q2 22	$1M
Q3 22	$10M
Q1 23	$9M
Q2 23	$8M
Q3 25	$31M
Q4 25	$32M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$213M	$0	$213M
Q2 22	$259M	$0	$259M
Q3 22	$284M	$0	$284M
Q4 22	$226M	$0	$226M
Q1 23	$256M	$0	$256M
Q2 23	$187M	$0	$187M
Q3 23	$253M	$1M	$254M
Q4 23	$250M	$718.3K	$251M
Q1 24	$284M	$622.0K	$285M
Q2 24	$486M	$40M	$526M
Q3 24	$443M	$40M	$483M
Q4 24	$542M	$40M	$582M
Q1 25	$563M	$20M	$583M
Q2 25	$626M	$0	$626M
Q3 25	$611M	$0	$611M
Q4 25	$568M	$0	$568M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 20	261M	0.0%	0.0%
Q2 20	261M	0.0%	0.0%
Q3 20	261M	0.0%	0.0%
Q4 20	261M	0.0%	0.0%
Q1 21	261M	+0.0%	+0.0%
Q2 21	261M	+0.1%	+0.1%
Q3 21	262M	+0.0%	+0.1%
Q4 21	262M	0.0%	+0.1%
Q1 22	262M	+0.3%	+0.4%
Q2 22	262M	-0.0%	+0.3%
Q3 22	262M	-0.1%	+0.1%
Q4 22	262M	+0.0%	+0.2%
Q1 23	262M	+0.1%	+0.0%
Q2 23	272M	+3.8%	+3.8%
Q3 25	397M	+45.8%	+51.5%
Q4 25	400M	+0.8%	+52.7%

Shares Outstanding