Hudbay Minerals Inc. stock declines amid market weakness
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 18 2024
0mins
Should l Buy HBM?
Hudbay Minerals Inc. shares fell by 5.01% as it crossed below the 5-day SMA, reflecting a challenging trading environment.
The decline in Hudbay's stock price is attributed to broad market weakness, with the Nasdaq-100 down 2.47% and the S&P 500 down 0.93%. This broader market trend has negatively impacted investor sentiment towards mining stocks, including Hudbay.
As the market continues to face headwinds, investors may remain cautious about mining stocks, which could lead to further volatility in Hudbay's share price.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy HBM?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on HBM
Wall Street analysts forecast HBM stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for HBM is 20.63 USD with a low forecast of 17.24 USD and a high forecast of 24.79 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
10 Buy
0 Hold
0 Sell
Strong Buy
Current: 23.500
Low
17.24
Averages
20.63
High
24.79
Current: 23.500
Low
17.24
Averages
20.63
High
24.79
About HBM
Hudbay Minerals Inc. is a Canada-based copper-focused critical minerals company with three operations and a pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. The Company's operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). The Company's growth pipeline includes the Copper World project in Arizona (United States), the Mason project in Nevada (United States), the Llaguen project in La Libertad (Peru) and several expansion and exploration opportunities near its existing operations. The Copper Mountain Mine, located south of Princeton, British Columbia, is a conventional open pit, truck and shovel operation. The Constancia mine is located in the province of Chumbivilcas in southern Peru. Its primary production is copper, complemented by gold production and by-products, such as zinc, silver, and molybdenum.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
US, EU, and Japan Unite to Counter China's Mineral Dominance
- Global Mineral Cooperation Agreement: The US and EU committed to a deal within 30 days to identify cooperation areas, stimulate demand, and diversify critical mineral supply, aiming to prevent supply chain disruptions and promote research and innovation, reflecting the strategic collaboration of three major economies in global mineral supply chains.
- Current Control of Critical Minerals: China controls 60% to 90% of the global critical mineral processing market, particularly in missile defense and energy infrastructure, which creates vulnerabilities for the US and its allies, compelling them to take action to ensure supply security.
- US Policy Shift: President Trump launched the $12 billion Project Vault to stockpile critical minerals, while Congress passed the Critical Mineral Dominance Act, marking a significant step in breaking China's control over mineral supply chains and expected to boost domestic mining and refining sectors.
- Surge in Copper Demand: Copper demand is projected to rise by 50% to 42 million metric tons by 2040, while supply is expected to decline by 7%, leading to a 10 million ton shortfall, particularly driven by emerging technologies like AI and electric vehicles, intensifying the demand for copper.
See More
Lumbard & Kellner Initiates Position in UiPath
- New Position Established: According to an SEC filing dated February 3, 2026, Lumbard & Kellner, LLC initiated a new position in UiPath by acquiring 224,337 shares during the fiscal fourth quarter, valued at approximately $3.68 million, indicating confidence in the company's potential.
- Portfolio Allocation: This investment represents 1.29% of Lumbard & Kellner's reportable U.S. equity assets totaling $285.53 million, highlighting the firm's strategic focus on UiPath within its investment portfolio.
- Market Performance: As of February 2, 2026, UiPath shares were priced at $12.54, reflecting an 11.8% decline over the past year, significantly underperforming the S&P 500 by 27.3 percentage points, which suggests market caution regarding its future growth prospects.
- Profitability Shift: Despite UiPath's P/E ratio of 30 being close to the S&P 500 average, its forward P/E ratio of 16 indicates that the stock has transitioned into a value stock, potentially attracting investors looking for undervalued opportunities amidst its significant profit growth.
See More
Hudbay Minerals (HBM) Secures $4.3M Japanese Funding for Exploration
- New Partnership: Hudbay Minerals announced a partnership with Japan Organization for Metals & Energy Security, securing at least C$6M in funding to enhance exploration in northern Manitoba, which is expected to boost the company's resource development potential in the region.
- Equity Option: Under the agreement, JOGMEC will receive an option to purchase a 10% stake in three projects, with Hudbay acting as the operator, ensuring smooth exploration activities over the next three years and further solidifying its market position.
- Continuation of Historical Cooperation: This agreement amends a deal struck in 2024 with Marubeni, which has the right to acquire a 20% stake upon funding at least C$12M in exploration, demonstrating Hudbay's ongoing appeal in the Japanese market.
- Joint Venture Prospects: Should JOGMEC and Marubeni successfully fulfill their investment obligations and choose to exercise their options, a three-party joint venture will be formed, with Hudbay holding a 70% stake, further enhancing its control in resource development.
See More
Louisbourg Investments Acquires $5.25 Million Stake in Hudbay Minerals
- New Investment Position: Louisbourg Investments acquired 263,900 shares of Hudbay Minerals in a trade valued at approximately $5.25 million, representing 1.05% of its U.S. equity portfolio, indicating a sustained interest in the mining sector.
- Strong Stock Performance: As of January 15, Hudbay Minerals shares were priced at $22.76, reflecting a remarkable 159.8% increase over the past year, significantly outperforming the S&P 500 by 143.1 percentage points, showcasing market confidence in its growth prospects.
- Strategic Asset Allocation: The new stake positions Hudbay Minerals at just over 1% of Louisbourg's portfolio, suggesting a targeted allocation strategy rather than a speculative high-risk investment, balancing exposure to real assets.
- Copper Price Growth Drivers: Hudbay has benefited from rising copper prices and improved operational leverage across its North and South American assets, with growing investor focus on long-term copper supply, indicating strong recognition of its fundamentals.
See More
Louisbourg Investments Acquires 263,900 Shares of Hudbay Minerals for $5.25 Million
- New Investment Position: On January 16, Louisbourg Investments disclosed a new position in Hudbay Minerals, acquiring 263,900 shares for approximately $5.25 million, indicating confidence in the company's prospects.
- Asset Allocation Ratio: This investment represents 1.05% of Louisbourg's assets under management, highlighting a strategic emphasis on the mining sector, particularly the potential in the copper market.
- Stock Performance: As of January 15, Hudbay Minerals' shares were priced at $22.76, reflecting a staggering 159.8% increase over the past year, significantly outperforming the S&P 500 by 143.1 percentage points, showcasing market optimism about its future growth.
- Market Trend Impact: Hudbay has benefited from rising copper prices and improved operational leverage, with increasing investor focus on long-term copper supply, making Louisbourg's decision to increase exposure at this time strategically significant.
See More
Hudbay Minerals Achieves 2025 Copper and Gold Production Guidance with Nearly $1 Billion Cash
- Consistent Achievement: Hudbay achieved approximately 118,188 tonnes of copper and 267,934 ounces of gold in 2025, marking the 11th consecutive year of meeting annual copper production guidance and the 5th year for gold, demonstrating resilience amid challenges like wildfire evacuations.
- Strong Q4 Performance: In Q4 2025, Hudbay produced about 33,069 tonnes of copper and 84,298 ounces of gold, particularly exceeding gold production guidance in Peru's Pampacancha satellite deposit, further solidifying its market position.
- Robust Cash Flow: As of December 31, 2025, Hudbay reported approximately $992 million in cash and cash equivalents, with total liquidity exceeding $1.4 billion when including undrawn credit facilities, providing strong support for future investments and operations.
- Operational Optimization: The company optimized its mine plan in the second half of 2025 by prioritizing Pampacancha mining, maintaining stable production despite unexpected downtimes, and is expected to see higher production levels in 2026 compared to 2025.
See More
US, EU, and Japan Unite to Counter China's Mineral Dominance
- Global Mineral Cooperation Agreement: The US and EU committed to a deal within 30 days to identify cooperation areas, stimulate demand, and diversify critical mineral supply, aiming to prevent supply chain disruptions and promote research and innovation, reflecting the strategic collaboration of three major economies in global mineral supply chains.
- Current Control of Critical Minerals: China controls 60% to 90% of the global critical mineral processing market, particularly in missile defense and energy infrastructure, which creates vulnerabilities for the US and its allies, compelling them to take action to ensure supply security.
- US Policy Shift: President Trump launched the $12 billion Project Vault to stockpile critical minerals, while Congress passed the Critical Mineral Dominance Act, marking a significant step in breaking China's control over mineral supply chains and expected to boost domestic mining and refining sectors.
- Surge in Copper Demand: Copper demand is projected to rise by 50% to 42 million metric tons by 2040, while supply is expected to decline by 7%, leading to a 10 million ton shortfall, particularly driven by emerging technologies like AI and electric vehicles, intensifying the demand for copper.
See More
Lumbard & Kellner Initiates Position in UiPath
- New Position Established: According to an SEC filing dated February 3, 2026, Lumbard & Kellner, LLC initiated a new position in UiPath by acquiring 224,337 shares during the fiscal fourth quarter, valued at approximately $3.68 million, indicating confidence in the company's potential.
- Portfolio Allocation: This investment represents 1.29% of Lumbard & Kellner's reportable U.S. equity assets totaling $285.53 million, highlighting the firm's strategic focus on UiPath within its investment portfolio.
- Market Performance: As of February 2, 2026, UiPath shares were priced at $12.54, reflecting an 11.8% decline over the past year, significantly underperforming the S&P 500 by 27.3 percentage points, which suggests market caution regarding its future growth prospects.
- Profitability Shift: Despite UiPath's P/E ratio of 30 being close to the S&P 500 average, its forward P/E ratio of 16 indicates that the stock has transitioned into a value stock, potentially attracting investors looking for undervalued opportunities amidst its significant profit growth.
See More
Hudbay Minerals (HBM) Secures $4.3M Japanese Funding for Exploration
- New Partnership: Hudbay Minerals announced a partnership with Japan Organization for Metals & Energy Security, securing at least C$6M in funding to enhance exploration in northern Manitoba, which is expected to boost the company's resource development potential in the region.
- Equity Option: Under the agreement, JOGMEC will receive an option to purchase a 10% stake in three projects, with Hudbay acting as the operator, ensuring smooth exploration activities over the next three years and further solidifying its market position.
- Continuation of Historical Cooperation: This agreement amends a deal struck in 2024 with Marubeni, which has the right to acquire a 20% stake upon funding at least C$12M in exploration, demonstrating Hudbay's ongoing appeal in the Japanese market.
- Joint Venture Prospects: Should JOGMEC and Marubeni successfully fulfill their investment obligations and choose to exercise their options, a three-party joint venture will be formed, with Hudbay holding a 70% stake, further enhancing its control in resource development.
See More
Louisbourg Investments Acquires $5.25 Million Stake in Hudbay Minerals
- New Investment Position: Louisbourg Investments acquired 263,900 shares of Hudbay Minerals in a trade valued at approximately $5.25 million, representing 1.05% of its U.S. equity portfolio, indicating a sustained interest in the mining sector.
- Strong Stock Performance: As of January 15, Hudbay Minerals shares were priced at $22.76, reflecting a remarkable 159.8% increase over the past year, significantly outperforming the S&P 500 by 143.1 percentage points, showcasing market confidence in its growth prospects.
- Strategic Asset Allocation: The new stake positions Hudbay Minerals at just over 1% of Louisbourg's portfolio, suggesting a targeted allocation strategy rather than a speculative high-risk investment, balancing exposure to real assets.
- Copper Price Growth Drivers: Hudbay has benefited from rising copper prices and improved operational leverage across its North and South American assets, with growing investor focus on long-term copper supply, indicating strong recognition of its fundamentals.
See More
Louisbourg Investments Acquires 263,900 Shares of Hudbay Minerals for $5.25 Million
- New Investment Position: On January 16, Louisbourg Investments disclosed a new position in Hudbay Minerals, acquiring 263,900 shares for approximately $5.25 million, indicating confidence in the company's prospects.
- Asset Allocation Ratio: This investment represents 1.05% of Louisbourg's assets under management, highlighting a strategic emphasis on the mining sector, particularly the potential in the copper market.
- Stock Performance: As of January 15, Hudbay Minerals' shares were priced at $22.76, reflecting a staggering 159.8% increase over the past year, significantly outperforming the S&P 500 by 143.1 percentage points, showcasing market optimism about its future growth.
- Market Trend Impact: Hudbay has benefited from rising copper prices and improved operational leverage, with increasing investor focus on long-term copper supply, making Louisbourg's decision to increase exposure at this time strategically significant.
See More
Hudbay Minerals Achieves 2025 Copper and Gold Production Guidance with Nearly $1 Billion Cash
- Consistent Achievement: Hudbay achieved approximately 118,188 tonnes of copper and 267,934 ounces of gold in 2025, marking the 11th consecutive year of meeting annual copper production guidance and the 5th year for gold, demonstrating resilience amid challenges like wildfire evacuations.
- Strong Q4 Performance: In Q4 2025, Hudbay produced about 33,069 tonnes of copper and 84,298 ounces of gold, particularly exceeding gold production guidance in Peru's Pampacancha satellite deposit, further solidifying its market position.
- Robust Cash Flow: As of December 31, 2025, Hudbay reported approximately $992 million in cash and cash equivalents, with total liquidity exceeding $1.4 billion when including undrawn credit facilities, providing strong support for future investments and operations.
- Operational Optimization: The company optimized its mine plan in the second half of 2025 by prioritizing Pampacancha mining, maintaining stable production despite unexpected downtimes, and is expected to see higher production levels in 2026 compared to 2025.
See More
