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Hudbay Minerals Inc.

HBM · NYSE

Market closed$20.36$-0.460000 (-2.21%)After hours $20.37 · +0.03%

Key statistics

Previous close$20.82
Open$20.41
Day high$20.85
Day low$19.80
52-week high$32.15
52-week low$8.93
Market cap9.04B
Volume3.10M
Average volume5.52M
P/E ratio24.24
Forward P/E—
EPS0.84
Dividend yield+0.11%

Market context

Why it moved

Hudbay Minerals (HBM) shares declined amid a broad sector selloff driven by valuation concerns and weakening sentiment across commodity and mining stocks, compounded by a pullback from the stock's significant 52-week gains as investors rotated away from high-performing names.

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What is happening

Recent company-specific developments and publisher coverage.

July 18, 2026Hudbay Minerals closed lower as broad-based selling pressure hit copper miners, with peers Freeport-McMoRan, Southern Copper, and others all declining on softening metal prices. Despite the pullback, key catalysts remain in focus: UBS named Hudbay its top mid-cap copper pick heading into Q2 earnings, Barclays raised its price target to $32, and the company recently completed its acquisition of Arizona Sonoran Copper, adding the Cactus project in Arizona. Analysts also flagged the Copper World feasibility study as a near-term catalyst, while Simply Wall St noted shares may be ~35% undervalued ahead of the July 29 earnings report.

-2.2094

July 17, 2026Hudbay Minerals tumbled over 5% as copper sector peers broadly declined, with Freeport-McMoRan falling nearly 4% and Southern Copper slipping on the same session, despite a recent copper price rally. The pullback adds to a ~30% decline from recent highs, even as Barclays reiterated an Overweight rating and raised its price target to $32 (USD) / C$45, citing Hudbay's compelling 70%+ copper production growth potential. Morningstar flagged that much of the basic materials sector is now fairly or overvalued, while mixed macro signals — including a China GDP miss and cautious critical mineral investment trends — weighed on sentiment.

-5.2775

July 16, 2026Hudbay Minerals declined amid sector-wide risk-off sentiment, despite a broadly positive day for copper peers. A Seeking Alpha analysis highlighted the stock is down nearly 30% from recent highs on macro headwinds rather than company-specific issues, framing the pullback as a buying opportunity given 70%+ copper production growth potential. Copper peers including Southern Copper and Freeport-McMoRan closed sharply higher, lifted by surging copper prices and geopolitical supply disruptions in Chile, underscoring Hudbay's relative underperformance on the day despite the constructive commodity backdrop.

-2.3111

July 15, 2026Hudbay Minerals surged nearly 8% in heavy volume — well above its average — as a confluence of catalysts lifted the copper miner. A cooler-than-expected CPI report boosted broad market sentiment, while copper peers like Southern Copper also rallied on global supply-demand imbalances. Analysts highlighted Hudbay's 70%+ copper production growth potential by 2030, driven by its Arizona Sonoran acquisition and the newly permitted Constancia mine expansion in Peru — with investors eyeing the July 29 earnings release as the next major catalyst.

7.8103

July 14, 2026Hudbay Minerals declined despite a constructive long-term backdrop, as the basic materials sector faced broader headwinds — finishing as the worst-performing sector last week, down 2.46%. The pullback comes even as Peru's SENACE recently approved an expansion of Constancia's annual mill throughput from 31 to 34 million tonnes, extending the mine's operational life and enhancing infrastructure. Analysts view the stock as undervalued on a DCF basis, with a July 29 earnings release as the next key catalyst, while Morgan Stanley's bullish copper thesis — forecasting COMEX prices of $6.85/lb by Q4 2026 — supports the longer-term investment case.

-3.5582

July 11, 2026Hudbay Minerals closed essentially flat despite a volatile session that saw shares trade as low as $21.09 intraday, recovering to close near prior levels. The muted finish follows a steep 7.78% drop on July 8 tied to broad copper price weakness that hit peers like Freeport-McMoRan hard. Copper stocks rebounded sharply on July 9—with FCX surging ~5.9% and Southern Copper gaining 4.4% on a strong COMEX copper rebound—yet HBM lagged the recovery. Broader sector sentiment is supported by AI data center copper demand narratives, strong H1 earnings from global miners, and JPMorgan's top preference for copper within basic materials, though HBM's below-average volume today suggests investors remain cautious.

0.278

July 10, 2026Hudbay Minerals surged nearly 5%, snapping back sharply after falling 4.5% the prior session, as a powerful rebound in global copper prices lifted the entire copper mining complex — peer Southern Copper (SCCO) gained a nearly identical 4.41% on the day. Front-month COMEX copper futures posted their largest single-day gain in nearly a month amid tight physical market conditions, with structural demand tailwinds from AI data centers, EVs, and grid electrification keeping sentiment constructive. The recovery came despite a challenging macro backdrop of renewed U.S.-Iran tensions and oil price volatility, with analysts maintaining a consensus Buy and an average price target of ~$30.83 — implying roughly 43% upside from current levels.

4.8082

July 9, 2026Hudbay Minerals fell sharply, dragged down by a sector-wide copper selloff as geopolitical risk surged after President Trump declared the Iran ceasefire deal 'over,' sending oil prices up more than 5% and triggering a broad risk-off move in commodities. Peer Freeport-McMoRan dropped ~4.9% on the same copper weakness. Adding pressure, BofA Securities cut its price target to $29.50 from $33.50 (maintaining Buy), while Jefferies had also trimmed its target to $35.18 earlier in the week — though the consensus of 23 analysts remains firmly 'Buy' with an average target of $30.83, implying ~43% upside from current levels.

-4.4548

Simply Wall Street · July 17, 2026Hudbay Minerals (TSX:HBM) Could Be 35% Undervalued As Earnings NearPluang · July 15, 2026Barclays raises Hudbay Minerals price target to $32 on strong copper growth outlook.Seeking Alpha · July 14, 2026Hudbay Minerals: Buy The 30% Pullback On This Copper Growth Story (NYSE:HBM)Moomoo · July 14, 2026Hudbay Minerals Inc. Price Target Cut to C$38.50/Share From C$40.00 by National BankStock Titan · June 24, 2026Hudbay closes Arizona Sonoran deal, building a giant U.S. copper districtQuiver Quantitative · June 24, 2026Hudbay Minerals Slides as Copper Weakness and Broad Mining-Sector Selling Pressure Shares | HBM Stock NewsSimply Wall Street · March 31, 2026Hudbay Minerals (NYSE:HBM) Stock Forecast & Analyst PredictionsMayer Brown · January 13, 2026Mayer Brown advises Mitsubishi Corporation on closing of $600 million strategic investment in “Copper World” Joint Venture with Hudbay Minerals Inc.
Benzinga · July 16, 2026Barclays Maintains Overweight on Hudbay Minerals, Raises Price Target to C$45
Benzinga · July 16, 2026Barclays Maintains Overweight on Hudbay Minerals, Raises Price Target to $32
Benzinga · July 9, 2026B of A Securities Maintains Buy on Hudbay Minerals, Lowers Price Target to $29.5
Mt Newswire · July 8, 2026BofA Securities Adjusts Hudbay Minerals Price Target to $29.50 From $33.50, Maintains Buy Rating
Benzinga · July 6, 2026Jefferies Maintains Buy on Hudbay Minerals, Lowers Price Target to C$50
Mt Newswire · July 2, 2026Hudbay Minerals Secures Approval to Boost Mill Throughput at Constancia Mine in Peru
Mt Newswire · July 2, 2026Hudbay Minerals Receives Approval to Increase Constancia Mill Capacity in Peru
Benzinga · June 25, 2026Scotiabank Maintains Sector Outperform on Hudbay Minerals, Raises Price Target to C$44

Peers

S&P 500SPX · $7,457.69-1.01%Freeport-McMoRan Inc.FCX · $58.40-0.27%Teck Resources LimitedTECK · $55.05-1.33%Lundin Mining CorporationLUN.TO · 33.16-1.28%Ero Copper Corp.ERO · $24.13-1.59%Capstone Copper Corp.CSCCF · $8.67-2.47%Ivanhoe Mines Ltd.IVN.TO · 9.81-1.70%First Quantum Minerals Ltd.FM.TO · 36.79-1.60%Antofagasta plcANTO.L · 3,491.00-2.70%Southern Copper CorporationSCCO · $172.48-1.81%Trekor Metals LimitedTGB · $6.78-1.88%Hecla Mining CompanyHL · $14.33-1.31%