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TSE:HBM

Hudbay Minerals (HBM.TO)

39.11
+0.11 (0.28%)
as of Jun 19, 2026, 8:00:00 pm Market Open.
186 watching
0
Unspecified
Copper is volatile. He wants more stability in commodities, including growth in China's economy, before buying the mining companies.
BUY
Under pressure, mainly because of South American exposure. He remains a believer. Good news on changes in Canadian assets. Misunderstood company. Disappointing performance, but a buy at current prices.
BUY ON WEAKNESS
Copper's price has plunged in recent days, taking down other metals. Their Manitoba mines are hand-to-mouth, and South American ones still need to be developed. Consider this around $6-7, but it's a lower-quality mining business.
TOP PICK
Lags the group. Laying foundation for future growth. Position in Peru is a bit concerning with recent elections. Current price nowhere near reflects its potential over the next few years. Compelling at current prices. Yield is 0.25%. (Analysts’ price target is $13.76)
PAST TOP PICK
(A Top Pick Mar 09/21, Up 14%) Expecting valuation to catch up to peers. Believes company has lagged other companies in sector. International operations has presented risk in business model. Company has a lot of growth prospects. New operations coming online soon.
PAST TOP PICK

(A Top Pick Mar 09/21, Up 5%) A slight disappointment. Eventually, they'll be appreciated for their operations: copper in near Tucson and Rosemont could come on stream. Peru remains an overhang, as their government shifts to the left, but they will realize the country needs the cash flow from this industry. Good long-term growth lies ahead.

WEAK BUY
Political changes in Peru are affecting it. Concerns about change in royalty regime. Discount to group, given potential earnings going forward. Well placed in Canada and Latin America. Not a screaming buy, but potential to reach low to mid-teens.
BUY
All the metals companies have come down. The big worry is Chinese growth. The metals have rolled over a little. These things are looking to be at good purchase points. He is taking a look at it again.
BUY
Getting that license in Arizona would be a huge boom for them. They hold great mines and their operations are performing well. They've stumbled a bit in recent years, but overall things are smooth. Peru offers political uncertainty with a new far left-wing government, but it needs Hudbay's operations to keep going. He targets $12-13.
COMMENT
Modelling 229% EPS growth from 2021-2023. Time to buy cyclical stocks is when it's expensive, not when they are cheap. Prices have come down a lot because the Chinese board has recommended to do something about high commodities prices.
BUY
One of his favourites in the group. Peru election could have a modest impact. Manitoba Covid shutdown would be temporary. Considerably more optionality in the last few years. Proving more reserves. Extremely well positioned. Back to mid-teens or higher in the next couple of years.
BUY

Commodities were in a 10-year bear market and only recently reversed. FCX has been the leader, and has just pulled back and is set for another leg up. He also owns FM. All of these will benefit, as we're in a deficit of copper and will be for quite some time. EVs use more copper than traditional vehicles. Should be core in a portfolio.

TOP PICK
It's finally coming into their own. Their flagship mine is performing extremely well while a satellite pit is ramping up for production. He expects more gold and zinc production out of Manitoba. There's been a lift in energy prices in anticipation of the reopening. If they get the production permits for Rosemont, it'll be a huge catalyst. They just refinanced $600 million in debt which shows that their bankers have faith in this company. he expects many upward revisions for HBM. (Analysts’ price target is $11.96)
BUY
Haven't bought it yet but is watching it. Have it as a buy. A very diversified company and would look at the overall exposure. It is global with activities in Peru and Canada. It is positive on a long term basis. Would consider it. (Analysts’ price target is $12.00)
BUY
It has been correcting similar to other copper stocks. You want to see some healthy corrections so this is normal. Earnings are set for this week. Copper is part of the green energy solution and should profit from infrastructure spending. A name that he likes and this is the time to own names like this.
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