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Hudbay Minerals (HBM) USD

At a glance: strengths & risks
✓Revenue growing (+9%)✓Profit growing (+732%)✓Margins improving (41%→61%)✓Low leverage (0.0x EBITDA)✗Pricier than own history (EV/EBITDA 8.0 vs avg 5.1)

Sector: Copper mining

Geography: Canada, Peru, United States

COMM_HBM

Price chart

22.63 USDDay -3.91%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
22.63 USD · -3.91%
Market cap
9.0 bn USD

Growth

Δ revenue y/y
27.3%
Δ EBITDA y/y
38.8%

Multiples

P/E (LTM)
13.6x
3y avg: 30.9x
P/B (FY)
2.8x
P/E (ann.)
11.8x
EV/EBITDA (LTM)
8.0x
3y avg: 5.1x
EV/EBITDA (ann.)
5.6x

Cash return

Dividend yield
0.1%
FCF yield (LTM)
6.0%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-3.2%
↓ details

Liquidity

Daily turnover (listing)
85.1 mln USD

Shares: yahoo_fundamentals_timeseries/HBM

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026 (3M)OK757.3
y/y 27.3%
302.6
y/y 66.1%
100.8
y/y -7.1%
403.4
y/y 38.8%
190.4
y/y 89.6%
211.3-140.26896.9
y/y 25.2%
3533.5
y/y 33.2%
22.5%5.6Link
2025-12-31Q4 2025 (3M)PARTIAL732.9
y/y 25.3%
217.2
y/y 57.3%
152.9
y/y 25.0%
370.1
y/y 42.1%
128.0
y/y 563.2%
209.4-143.26223.3
y/y 13.4%
3231.0
y/y 26.5%
17.9%23.6Link
2025-09-30Q3 2025 (3M)OK346.8
y/y -28.6%
10.4
y/y -90.2%
83.0
y/y -15.2%
93.4
y/y -54.1%
222.4
y/y 342.1%
113.5-110.45916.8
y/y 7.4%
3080.5
y/y 16.7%
10.0%435.9Link
2025-06-30Q2 2025 (3M)OK536.4
y/y 26.1%
151.8
y/y 239.6%
96.8
y/y -1.2%
248.6
y/y 74.2%
117.7
y/y —
259.9-121.75628.6
y/y 3.4%
2863.3
y/y 10.9%
17.1%434.1Link
2025-03-31Q1 2025 (3M)OK594.9
y/y 13.3%
182.2
y/y 63.0%
108.5
y/y -1.2%
290.7
y/y 31.2%
100.4
y/y 442.7%
124.8-91.45507.0
y/y 5.3%
2653.2
y/y 20.0%
15.4%546.1Link
2024-12-31Q4 2024 (3M)PARTIAL584.9
y/y -2.9%
138.1
y/y 6.4%
122.3
y/y 0.0%
260.4
y/y 3.3%
19.3
y/y -42.4%
238.3-96.95487.6
y/y 3.3%
2553.2
y/y 21.8%
2.6%640.5Link
2024-09-30Q3 2024 (3M)OK485.8
y/y 1.1%
105.7
y/y -8.1%
97.9
y/y -14.2%
203.6
y/y -11.2%
70.6
y/y 10.6%
148.1-98.35508.1
y/y 4.9%
2638.9
y/y 22.8%
2.6%625.6Link
2024-06-30Q2 2024 (3M)OK425.5
y/y 36.3%
44.7
y/y —
98.0
y/y —
142.7
y/y 60.8%
-38.8
y/y —
140.2-89.55442.4
y/y 3.8%
2582.2
y/y -50.7%
-3.4%631.8Link
2024-03-31Q1 2024 (3M)OK525.0
y/y —
111.8
y/y —
109.8
y/y —
221.6
y/y —
18.5
y/y —
139.6-62.45231.3
y/y —
2211.0
y/y —
3.4%—Link
2023-12-31Q4 2023 (3M)PARTIAL602.2
y/y —
129.8
y/y —
122.3
y/y —
252.1
y/y —
33.5
y/y —
229.1-81.15312.6
y/y —
2096.8
y/y —
3.3%1128.0Link
2023-09-30Q3 2023 (3M)OK480.5
y/y —
—
y/y —
—
y/y —
229.2
y/y —
60.4
y/y —
151.9-69.25250.6
y/y —
2149.7
y/y —
1.6%—Link
2023-06-30Q2 2023 (3M)OK312.2
y/y —
—
y/y —
—
y/y —
88.8
y/y —
-14.9
y/y —
24.6-65.95242.1
y/y —
5242.1
y/y —
——Link

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02004006008002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-100%-50%0%50%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

0501001502023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

02505007501 0001 2502023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Copper

Annual production
460 110 mln gold oz eq.
2022

Production

YearProduction, mln gold oz eq.per day
2022460 1101 260 575 342

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — Copper

Current 13 997spot vs LTM +14%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -3.2% ▲ +2.2 pp 1d

Main driver: Copper +14% vs LTM; revenue ×1.07 vs costs ×1.04; EBITDA 1 601→1 480; at 5.1× EV/EBITDA → -3%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Copper (rev)+60%13 996.9012 244.6610 743.46+14%-12%
Gold (rev)+30%4 050.274 246.023 189.61-5%-25%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue2 373
LTM EBITDA1 601
LTM cash costs (revenue − EBITDA)772
2 · Revenue projection
Revenue multiplier — spot×1.072 (+7%)
= Spot revenue2 544
Revenue multiplier — 3y price×0.852 (-15%)
= 3-year-price revenue2 022
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs803
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs803
4 · EBITDA projection (revenue − costs)
= Spot EBITDA1 741
= 3-year-price EBITDA1 219
Conservative EBITDA = min(spot, avg)1 480
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)5.1x
Target EV = EV/EBITDA × conservative EBITDA7 563
Net debt6
Target market cap = EV − net debt7 644
Current market cap7 896

Upside = target market cap ÷ current − 1 = -3.2%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2024 Q2426559-23.9%143270-47.2%
2024 Q3486561-13.4%204257-20.7%
2024 Q4585554+5.5%260242+7.6%
2025 Q1595560+6.2%303254+19.1%
2025 Q2536590-9.1%273287-5.0%
2025 Q3347618-43.8%436320+36.2%
2025 Q4733610+20.2%432407+6.1%
2026 Q1757684+10.7%461488-5.5%

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth +9% vs +20% the year before — a -10.2 pp move. 3-year CAGR +15%.
revenue growth by year: 2023 +16% · 2024 +20% · 2025 +9%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 4.2x · target 75th pct (3y) 5.1x · LTM avg 4.2x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-06-090.007 USDEx-dividend: 0.007 USD per sharePaidYahoo Finance (ex-div)
2026-03-100.007 USDEx-dividend: 0.007 USD per sharePaidYahoo Finance (ex-div)
2025-03-040.007 USDEx-dividend: 0.007 USD per sharePaidYahoo Finance (ex-div)
2024-09-030.007 USDEx-dividend: 0.007 USD per sharePaidYahoo Finance (ex-div)
2024-03-040.007 USDEx-dividend: 0.007 USD per sharePaidYahoo Finance (ex-div)
2023-08-310.007 USDEx-dividend: 0.007 USD per sharePaidYahoo Finance (ex-div)
2023-03-060.007 USDEx-dividend: 0.007 USD per sharePaidYahoo Finance (ex-div)
2022-09-010.008 USDEx-dividend: 0.008 USD per sharePaidYahoo Finance (ex-div)
2022-03-070.008 USDEx-dividend: 0.008 USD per sharePaidYahoo Finance (ex-div)
2021-09-020.008 USDEx-dividend: 0.008 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Hudbay Minerals (HBM) — from primary filings.

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

Frequently asked questions

What is Hudbay Minerals (HBM)'s P/E ratio?
Hudbay Minerals (HBM) trades at a P/E of 13.6x (price to trailing 12-month earnings).
What is Hudbay Minerals (HBM)'s EV/EBITDA?
Hudbay Minerals (HBM) trades at 8.0x EV/EBITDA.
What is Hudbay Minerals (HBM)'s P/B ratio?
Hudbay Minerals (HBM) trades at a P/B of 2.8x.
What is Hudbay Minerals (HBM)'s dividend yield?
Hudbay Minerals (HBM)'s trailing 12-month dividend yield is 0.1%.
What is Hudbay Minerals (HBM)'s return on equity (ROE)?
Hudbay Minerals (HBM)'s ROE is 22.5%.
What is Hudbay Minerals (HBM)'s market capitalization?
Hudbay Minerals (HBM)'s market cap is 9.0 bn USD.