Hudbay Minerals Inc
TSX:HBM

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Hudbay Minerals Inc
TSX:HBM
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Price: 33.53 CAD -1.93%
Market Cap: CA$13.3B

Hudbay Minerals Inc
Investor Relations

Hudbay Minerals Inc., a mid-tier mining company, has carved a significant presence in the global mining landscape through its strategic operations and focus on extracting essential minerals. Established in the early 20th century, Hudbay has consistently evolved, leveraging its expertise to explore and develop mineral deposits primarily in the Americas. The company’s primary operations are centered in Canada, Peru, and more recently, the United States, where it focuses on the exploration, production, and sale of base metals such as copper, zinc, and precious metals like gold and silver. These minerals are critical in various industries, from electronics to construction, offering Hudbay a diversified portfolio and a steady stream of revenue. The company’s Manitoba site in Canada and the Constancia mine in Peru have been pivotal in its growth, providing substantial output, while recent operations like the development in Arizona aim to bolster future prospects.

Hudbay's business model revolves around optimizing mineral extraction processes and expanding its production capabilities through both development and acquisition. By investing heavily in advanced technologies and sustainable mining practices, the company seeks not only to enhance operational efficiency but also to minimize environmental impact—a growing concern in the industry. Hudbay effectively navigates the dynamic commodities market by employing prudent hedging strategies to manage price volatility, thereby maintaining financial stability. Revenue is generated predominantly through the sale of extracted minerals to industrial clients and metal traders globally, a model that relies on consistent production levels and quality. Strategic foresight in project management and a keen eye on emerging opportunities have allowed Hudbay Minerals to remain a resilient player in the mining sector amidst ever-changing market conditions.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 12, 2025
AI Summary
Q3 2025

Operational Resilience: Hudbay navigated wildfire evacuations in Manitoba and social unrest in Peru, maintaining operations and reaffirming full-year copper and gold guidance at the low end of the range.

Cost Guidance Improved: The company further improved full-year consolidated cash cost guidance for the second time this year, now projecting $0.15–$0.35 per pound copper (down from $0.65–$0.85).

Copper World JV: Hudbay secured Mitsubishi as a 30% partner in the Copper World project, significantly strengthening its financial position and reducing future capital requirements.

Production Impact: Third-quarter copper and gold production fell quarter-over-quarter due to disruptions, but a strong fourth quarter is anticipated, especially in Peru.

Debt Reduction: Hudbay reduced total debt and gold prepay liabilities by about $330 million since early 2024, with liquidity at $1.04 billion as of September 30.

CapEx Deferrals: Total 2025 capital expenditures expected to be $35 million below original guidance, primarily from deferrals into 2026.

Manitoba & BC Outlook: Manitoba gold production is expected slightly below guidance due to storm impacts; BC copper production to be below guidance due to SAG mill issues.

Key Financials
Copper Production
24,000 tonnes
Gold Production
54,000 ounces
Silver Production
730,000 ounces
Zinc Production
548 tonnes
Adjusted EBITDA
$143 million
Cash Generated from Operating Activities
$114 million
Operating Cash Flow Before Change in Noncash Working Capital
$70 million
Adjusted Net Earnings per Share
$0.03
Consolidated Cash Costs
$0.42 per pound
Consolidated Sustaining Cash Costs
$2.09 per pound
Debt Reduction Since Beginning of 2024
$330 million
Total Liquidity (Sept 30)
$1.04 billion
Cash and Cash Equivalents
$611 million
Undrawn Revolving Credit Facilities
$425 million
Net Debt-to-EBITDA Ratio
0.5x
Peru Copper Production (Q3)
18,000 tonnes
Peru Gold Production (Q3)
26,000 ounces
Peru Silver Production (Q3)
577,000 ounces
Peru Molybdenum Production (Q3)
195 tonnes
Peru Cash Costs
$1.30 per pound
Peru Mill Throughput
76,000 tonnes per day (Q3)
Manitoba Gold Production (Q3)
22,000 ounces
Manitoba Copper Production (Q3)
800 tonnes
Manitoba Zinc Production (Q3)
500 tonnes
Manitoba Silver Production (Q3)
102,000 ounces
Manitoba Gold Cash Costs (Q3)
$379 per ounce
British Columbia Copper Production (Q3)
5,200 tonnes
British Columbia Gold Production (Q3)
4,800 ounces
British Columbia Silver Production (Q3)
51,000 ounces
British Columbia Cash Costs (Q3)
$3.21 per pound
Earnings Call Recording
Other Earnings Calls

Management

Mr. Peter Gerald Jan Kukielski Bsc, Msc
President, CEO & Director
No Bio Available
Mr. Chi-Yen Lei
Chief Financial Officer
No Bio Available
Mr. Andre Taylor Lauzon
Chief Operating Officer
No Bio Available
Mr. Patrick James Donnelly
Senior Vice President of Legal & Organizational Effectiveness
No Bio Available
Mr. Javier Del Rio
Senior VP of US Business Unit
No Bio Available
Mr. Olivier Tavchandjian P.Geo.
Senior Vice President of Exploration & Technical Services
No Bio Available
Ms. Candace Brule
Vice President of Investor Relations
No Bio Available
Mr. Mark Gupta
Vice President of Corporate Development
No Bio Available
Mr. Jon Alexander Douglas
VP & Treasurer
No Bio Available
Mr. Mark Haber
Executive Director of Legal & Corporate Secretary
No Bio Available

Contacts

Address
ONTARIO
TORONTO
Suite 800 - 25 York Street
Contacts