We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
HudBay Minerals (HBM - Free Report) is set to report fourth-quarter 2025 results on Feb. 20, before market open. HBM is expected to post a solid year-over-year improvement in earnings.
The bottom-line estimate is pegged at 40 cents, indicating a significant 122.2% jump from 18 cents reported in the fourth quarter of 2024. The estimate has moved up 25% over the past 30 days. Total revenues are estimated to improve 30.6% year over year.
Image Source: Zacks Investment Research
HudBay Minerals’ Earnings Surprise History
Earnings beat the Zacks Consensus Estimates in two of the trailing four quarters, missed in one and met in the other, the average surprise being 40.68%. The trend is shown in the chart below.
Image Source: Zacks Investment Research
What the Zacks Model Unveils for HBM Stock
Our proven model does not predict an earnings beat for HudBay Minerals this time around. Stocks with the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) have a higher chance of beating on earnings, which is not the case here.
Earnings ESP: HBM has an Earnings ESP of -2.29%. You can uncover the best stocks before they are reported with our Earnings ESP Filter.
Factors Likely to Have Shaped HudBay Minerals’ Q4 Performance
Although the company’s third-quarter performance was disrupted by wildfires in Manitoba and social unrest in Peru, which weighed on volumes and sales, its fourth-quarter results are likely to reflect a sequential recovery. A deferral of 20,000-tonne copper concentrate shipment from Peru into October due to a disruption at its port should have aided sales during the soon-to-be-reported quarter.
On its third-quarter earnings call, management indicated October production was particularly strong, positioning Peru to meet full-year copper guidance, with gold likely exceeding the top end of the range. The key swing factor remains Peru’s social and political backdrop, although management characterized the operating environment as manageable.
An additional power outage in October is expected to have pushed full-year gold production slightly below the low end of guidance at HBM’s Manitoba facility. During the third quarter, gold recoveries hit record levels at both the New Britannia and Stall mills, and gold cash costs declined to $379 per ounce, underscoring operational efficiency gains. This trend is likely to have continued in the fourth quarter.
While the SAG2 mill conversion is progressing at the British Columbia facility and throughput is expected to ramp toward 50,000 tons per day by mid-2026, near-term production will likely remain constrained. Full-year copper output in British Columbia is now projected below the low end of guidance.
Cost-control initiatives are likely to have benefited earnings during the fourth quarter. On its third-quarter earnings call, HBM tightened its full-year consolidated cash cost guidance to 15-35 cents per pound, a sharp improvement from prior expectations. Sustaining cash cost guidance was also lowered to $1.85-$2.25 per pound. This cost resilience, aided by gold byproduct credits and disciplined spending, should have cushioned earnings even as production skew toward the lower end of guidance.
In the October-December period, gold prices remained near record high levels, supported by uncertainty regarding U.S trade and tariff policies. Solid demand from central banks boosted gold prices. Along with HBM, this upside in gold prices is aiding gold mining stocks like SSR Mining Inc. (SSRM - Free Report) and Wheaton Precious Metals Corp. (WPM - Free Report) .
Earlier this week, SSR Mining reported total sales of $521.7 million for the fourth quarter, surging 61.4% year over year. SSRM’s adjusted EPS was 88 cents compared with 10 cents in the year-ago period. The Zacks Consensus Estimate for Wheaton Precious Metals’ revenues implies 70.6% growth, while that for EPS suggests a rise of 106.8%.
HBM’s Price Performance
HudBay Minerals shares have surged 225.5% in a year, outpacing the industry's 48.9% growth. The Zacks Basic Materials sector and the S&P 500 have returned 43.5% and 13.6%, respectively.
Image Source: Zacks Investment Research
The company has also outperformed its peers, SSR Mining and Wheaton Precious Metals, whose shares have rallied 146.3% and 105%, respectively, over the past year.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
HBM to Report Q4 Earnings: What's in Store for the Stock?
Key Takeaways
HudBay Minerals (HBM - Free Report) is set to report fourth-quarter 2025 results on Feb. 20, before market open. HBM is expected to post a solid year-over-year improvement in earnings.
The bottom-line estimate is pegged at 40 cents, indicating a significant 122.2% jump from 18 cents reported in the fourth quarter of 2024. The estimate has moved up 25% over the past 30 days. Total revenues are estimated to improve 30.6% year over year.
Image Source: Zacks Investment Research
HudBay Minerals’ Earnings Surprise History
Earnings beat the Zacks Consensus Estimates in two of the trailing four quarters, missed in one and met in the other, the average surprise being 40.68%. The trend is shown in the chart below.
Image Source: Zacks Investment Research
What the Zacks Model Unveils for HBM Stock
Our proven model does not predict an earnings beat for HudBay Minerals this time around. Stocks with the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) have a higher chance of beating on earnings, which is not the case here.
Earnings ESP: HBM has an Earnings ESP of -2.29%. You can uncover the best stocks before they are reported with our Earnings ESP Filter.
Zacks Rank: The company currently has a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors Likely to Have Shaped HudBay Minerals’ Q4 Performance
Although the company’s third-quarter performance was disrupted by wildfires in Manitoba and social unrest in Peru, which weighed on volumes and sales, its fourth-quarter results are likely to reflect a sequential recovery. A deferral of 20,000-tonne copper concentrate shipment from Peru into October due to a disruption at its port should have aided sales during the soon-to-be-reported quarter.
On its third-quarter earnings call, management indicated October production was particularly strong, positioning Peru to meet full-year copper guidance, with gold likely exceeding the top end of the range. The key swing factor remains Peru’s social and political backdrop, although management characterized the operating environment as manageable.
An additional power outage in October is expected to have pushed full-year gold production slightly below the low end of guidance at HBM’s Manitoba facility. During the third quarter, gold recoveries hit record levels at both the New Britannia and Stall mills, and gold cash costs declined to $379 per ounce, underscoring operational efficiency gains. This trend is likely to have continued in the fourth quarter.
While the SAG2 mill conversion is progressing at the British Columbia facility and throughput is expected to ramp toward 50,000 tons per day by mid-2026, near-term production will likely remain constrained. Full-year copper output in British Columbia is now projected below the low end of guidance.
Cost-control initiatives are likely to have benefited earnings during the fourth quarter. On its third-quarter earnings call, HBM tightened its full-year consolidated cash cost guidance to 15-35 cents per pound, a sharp improvement from prior expectations. Sustaining cash cost guidance was also lowered to $1.85-$2.25 per pound. This cost resilience, aided by gold byproduct credits and disciplined spending, should have cushioned earnings even as production skew toward the lower end of guidance.
In the October-December period, gold prices remained near record high levels, supported by uncertainty regarding U.S trade and tariff policies. Solid demand from central banks boosted gold prices. Along with HBM, this upside in gold prices is aiding gold mining stocks like SSR Mining Inc. (SSRM - Free Report) and Wheaton Precious Metals Corp. (WPM - Free Report) .
Earlier this week, SSR Mining reported total sales of $521.7 million for the fourth quarter, surging 61.4% year over year. SSRM’s adjusted EPS was 88 cents compared with 10 cents in the year-ago period. The Zacks Consensus Estimate for Wheaton Precious Metals’ revenues implies 70.6% growth, while that for EPS suggests a rise of 106.8%.
HBM’s Price Performance
HudBay Minerals shares have surged 225.5% in a year, outpacing the industry's 48.9% growth. The Zacks Basic Materials sector and the S&P 500 have returned 43.5% and 13.6%, respectively.
Image Source: Zacks Investment Research
The company has also outperformed its peers, SSR Mining and Wheaton Precious Metals, whose shares have rallied 146.3% and 105%, respectively, over the past year.