Hudbay Minerals Inc
HBM · NYSE · producer · market cap $13.2B as of 24 Aug 2026
What Hudbay Minerals Inc's own filings say about its costs, margins and results, every figure cited.
Hudbay Minerals Inc share price
- Latest C1 cash cost-$0.40/lbrelease
- Copper produced, attributable28,267source
- Next report12 Novprior report
Company-reported data · Fixed cohorts · No estimated costs
How to read these figures
- Primary sources: every figure is the company's own, cited to the release or filing it came from.
- Fixed cohorts: the companies in each median are set for the calendar year, so a median never moves because membership moved.
- No modelled costs: no cost or margin here is estimated by us; where a company states no figure, the page says so.
About Hudbay Minerals Inc
Hudbay Minerals Inc. produces copper, gold, zinc, silver and molybdenum from three operations: the Constancia mine in Cusco, Peru, the Snow Lake operations in Manitoba and the Copper Mountain mine in British Columbia. The company is governed by the Canada Business Corporations Act, and its shares are listed under the symbol HBM on the Toronto Stock Exchange, the New York Stock Exchange and the Bolsa de Valores de Lima. Its projects include the Copper World project in Arizona, the Mason project in Nevada and the Llaguen project in La Libertad, Peru. In 2025, the company produced 118,188 tonnes of copper, 267,934 ounces of gold, 17,646 tonnes of zinc, 3,468,143 ounces of silver and 1,282 tonnes of molybdenum. The Peru operations produced 85,155 tonnes of copper and 74,480 ounces of gold in 2025. The Manitoba operations produced 173,453 ounces of gold, 9,249 tonnes of copper, 17,646 tonnes of zinc and 800,198 ounces of silver. The British Columbia operations produced 23,784 tonnes of copper, 20,001 ounces of gold and 252,811 ounces of silver. On April 30, 2025, Hudbay completed the acquisition of the remaining 25% interest in the Copper Mountain mine and now owns 100%. In January 2026, the company closed a $600 million joint venture transaction with Mitsubishi Corporation, securing a 30% strategic partner for the development of Copper World. Gold and silver sales from the Constancia mine are subject to a precious metals stream agreement.
Costs and margins
- Price, quarter average
- $6.06/lb
- C1 cash cost
- -$0.40/lb
- C1 margin
- $6.46/lb
- C1 margin, % of price
- 106.6%
Latest C1 cash cost -$0.40 per pound. Copper miners: median C1 cash cost $2.04 per pound, Q2 2026, 14 reporters. 2 lowest of 14 copper miners reporting Q2 2026.
| Category | Copper price (quarterly average) | C1 cash cost |
|---|---|---|
| Q3 2025 | $4.45 | $0.42 |
| Q4 2025 | $5.04 | -$0.63 |
| Q1 2026 | $5.82 | -$1.80 |
| Q2 2026 | $6.06 | -$0.40 |
| Category | Copper price (quarterly average) | C1 cash cost |
|---|---|---|
| Q3 2023 | $3.80 | $1.10 |
| $3.71 | $0.16 | |
| Q1 2024 | $3.83 | $0.16 |
| $4.42 | $1.14 | |
| Q3 2024 | $4.17 | $0.18 |
| $4.16 | $0.45 | |
| Q1 2025 | $4.24 | -$0.45 |
| $4.32 | -$0.02 | |
| Q3 2025 | $4.45 | $0.42 |
| $5.04 | -$0.63 | |
| $5.82 | -$1.80 | |
| Q2 2026 | $6.06 | -$0.40 |
| Category | Copper price (quarterly average) | C1 cash cost |
|---|---|---|
| Q1 2020 | $2.56 | $1.21 |
| $2.43 | $0.64 | |
| $2.96 | $0.65 | |
| Q1 2021 | $3.85 | $1.04 |
| $4.40 | $0.84 | |
| $4.32 | $0.65 | |
| Q1 2023 | $4.06 | $0.85 |
| $3.84 | $2.14 | |
| $3.80 | $1.10 | |
| Q4 2023 | $3.71 | $0.16 |
| $3.83 | $0.16 | |
| $4.42 | $1.14 | |
| Q3 2024 | $4.17 | $0.18 |
| $4.16 | $0.45 | |
| $4.24 | -$0.45 | |
| Q2 2025 | $4.32 | -$0.02 |
| $4.45 | $0.42 | |
| $5.04 | -$0.63 | |
| $5.82 | -$1.80 | |
| Q2 2026 | $6.06 | -$0.40 |
| Category | Copper price (quarterly average) | C1 cash cost |
|---|---|---|
| Q1 2020 | $2.56 | $1.21 |
| $2.43 | $0.64 | |
| $2.96 | $0.65 | |
| Q1 2021 | $3.85 | $1.04 |
| $4.40 | $0.84 | |
| $4.32 | $0.65 | |
| Q1 2023 | $4.06 | $0.85 |
| $3.84 | $2.14 | |
| $3.80 | $1.10 | |
| Q4 2023 | $3.71 | $0.16 |
| $3.83 | $0.16 | |
| $4.42 | $1.14 | |
| Q3 2024 | $4.17 | $0.18 |
| $4.16 | $0.45 | |
| $4.24 | -$0.45 | |
| Q2 2025 | $4.32 | -$0.02 |
| $4.45 | $0.42 | |
| $5.04 | -$0.63 | |
| $5.82 | -$1.80 | |
| Q2 2026 | $6.06 | -$0.40 |
C1 cash cost and the average copper price by quarter, newest first, US$ per pound; every row cites the company's own release.
| Quarter | Price avg | C1 cash cost | C1 margin | C1 margin % | Source |
|---|---|---|---|---|---|
| Q2 2026 | $6.06 | -$0.40 | $6.46 | 106.6% | release |
| Q1 2026 | $5.82 | -$1.80 | $7.62 | 130.9% | release |
| Q4 2025 | $5.04 | -$0.63 | $5.67 | 112.5% | release |
| Q3 2025 | $4.45 | $0.42 | $4.03 | 90.6% | release |
| Q2 2025 | $4.32 | -$0.02 | $4.34 | 100.5% | release |
| Q1 2025 | $4.24 | -$0.45 | $4.69 | 110.6% | release |
| Q4 2024 | $4.16 | $0.45 | $3.71 | 89.2% | release |
| Q3 2024 | $4.17 | $0.18 | $3.99 | 95.7% | release |
| Q2 2024 | $4.42 | $1.14 | $3.28 | 74.2% | release |
| Q1 2024 | $3.83 | $0.16 | $3.67 | 95.8% | release |
| Q4 2023 | $3.71 | $0.16 | $3.55 | 95.7% | release |
| Q3 2023 | $3.80 | $1.10 | $2.70 | 71.0% | release |
| Q2 2023 | $3.84 | $2.14 | $1.70 | 44.3% | release |
| Q1 2023 | $4.06 | $0.85 | $3.21 | 79.1% | release |
| Q2 2022 | $4.32 | $0.65 | $3.67 | 85.0% | release |
| Q2 2021 | $4.40 | $0.84 | $3.56 | 80.9% | release |
| Q1 2021 | $3.85 | $1.04 | $2.81 | 73.0% | release |
| Q3 2020 | $2.96 | $0.65 | $2.31 | 78.0% | release |
| Q2 2020 | $2.43 | $0.64 | $1.79 | 73.7% | release |
| Q1 2020 | $2.56 | $1.21 | $1.35 | 52.7% | release |
Its panel on the Miner Margins page carries the cohort it sits in and the basis notes.
Production and guidance
Q2 2026, as reported
- Copper produced, attributable
- 28,267 tonnes
- Prior-quarter copper production
- 27,929 tonnes
- Year-ago copper production
- 29,956 tonnes
More ways to compare Hudbay Minerals Inc
- C1 cash cost
- Rank 2 of 14View comparable rankings
Hudbay Minerals's mines and operations
| Ownership | Jurisdiction | Status | Source | |
|---|---|---|---|---|
| Constancia | 100% owned | Peru | Not available | 40-F (filed 27 Mar 2026); fiscal year 2025 |
| Pampacancha | Not available | Not available | Not available | 40-F (filed 27 Mar 2026); fiscal year 2025 |
| Lalor | 100% owned | Manitoba | Not available | 40-F (filed 27 Mar 2026); fiscal year 2025 |
| 1901 | 100% owned | Manitoba | Not available | 40-F (filed 27 Mar 2026); fiscal year 2025 |
| Copper Mountain | 100% owned | British Columbia | Not available | 40-F (filed 27 Mar 2026); fiscal year 2025 |
| Copper World | 70% | Pima County, Arizona | Development | 40-F (filed 27 Mar 2026); fiscal year 2025 |
| Mason | Not available | Nevada | Not available | 40-F (filed 27 Mar 2026); fiscal year 2025 |
| Llaguen | 100% owned | Peru | Not available | 40-F (filed 27 Mar 2026); fiscal year 2025 |
Financials, as filed
Key financials
- Revenue
- $2.2B
- Net income
- $568.5M
- Operating cash flow
- $707.3M
- Capital expenditure
- $466.7M
- Cash and equivalents
- $568.9M
- Debt
- $1.0B
- EPS (diluted)
- $1.44
Rounded from the figures as filed; the exact figures, concepts and filings are below.
Figures as filed, with concept, provenance and filing
| Measure | Period | Value | Provenance | Filing |
|---|---|---|---|---|
| Revenue ifrs-full:Revenue | FY 2025 | $2,211,000,000 | SEC XBRL, as filed | 40-F · 27 Mar 2026 |
| Net income ifrs-full:ProfitLossAttributableToOwnersOfParent | FY 2025 | $568,500,000 | SEC XBRL, as filed | 40-F · 27 Mar 2026 |
| EPS (basic) ifrs-full:BasicEarningsLossPerShare | FY 2025 | $1.44 | SEC XBRL, as filed | 40-F · 27 Mar 2026 |
| EPS (diluted) ifrs-full:DilutedEarningsLossPerShare | FY 2025 | $1.44 | SEC XBRL, as filed | 40-F · 27 Mar 2026 |
| Operating cash flow ifrs-full:CashFlowsFromUsedInOperatingActivities | FY 2025 | $707,300,000 | SEC XBRL, as filed | 40-F · 27 Mar 2026 |
| Capital expenditure ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities | FY 2025 | $466,700,000 | SEC XBRL, as filed | 40-F · 27 Mar 2026 |
| Cash and equivalents ifrs-full:CashAndCashEquivalents | FY 2025 | $568,900,000 | SEC XBRL, as filed | 40-F · 27 Mar 2026 |
| Debt ifrs-full:Borrowings | FY 2025 | $1,008,600,000 | SEC XBRL, as filed | 40-F · 27 Mar 2026 |
| Shares outstanding dei:EntityCommonStockSharesOutstanding | FY 2025 | 395,521,903 | SEC XBRL, as filed | 40-F · 27 Mar 2026 |
| Dividends paid ifrs-full:DividendsPaid | FY 2025 | $5,600,000 | SEC XBRL, as filed | 40-F · 27 Mar 2026 |
Annual figures only: this company files no quarterly XBRL with the SEC.
Seven-year statement history
Each fiscal year as the company first filed it with the SEC, in the currency it filed, never converted.
| Statement line | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | not available | $2,021,200,000 | $1,690,030,000, restated in a later filing | $1,461,440,000 | $1,501,998,000 | $1,092,418,000 | $1,237,439,000 |
| Operating income | not available | not available | not available | not available | not available | not available | not available |
| Net income | not available | $76,700,000 | $66,367,000, restated in a later filing | $70,382,000 | not available | not available | not available |
| Operating cash flow | not available | $666,200,000 | $476,850,000, restated in a later filing | $487,803,000 | $383,816,000, restated in a later filing | $239,480,000 | $310,856,000 |
| Capital expenditure | not available | $347,100,000 | $281,099,000, restated in a later filing | $308,960,000 | $377,433,000, restated in a later filing | $361,185,000 | $259,202,000 |
| Cash and equivalents | not available | $541,800,000 | $249,794,000, restated in a later filing | $225,665,000, restated in a later filing | $270,989,000 | $439,135,000 | $396,146,000 |
| Debt | not available | $1,107,500,000 | $1,287,536,000, restated in a later filing | $1,184,162,000 | $1,180,274,000 | $1,135,675,000 | $985,255,000 |
| Dividend per share | not available | not available | not available | not available | not available | not available | not available |
| Source | not available | 40-F · 27 Mar 2025 | 40-F · 28 Mar 2024 | 40-F · 31 Mar 202340-F · 28 Mar 2024 | 40-F · 29 Mar 2022 | 40-F · 30 Mar 2021 | 40-F · 31 Mar 2020 |
- A dash means the SEC filings carry no figure for that year. It is never zero.
- * The figure as first filed; restated in a later filing.
Filings
| Date | Source |
|---|---|
| 31 Jul 2026 | 6-K(31 Jul 2026) |
| 29 Jul 2026 | 6-K(29 Jul 2026) |
| 30 Jun 2026 | 6-K(30 Jun 2026) |
| 24 Jun 2026 | 6-K(24 Jun 2026) |
| 28 May 2026 | 6-K(28 May 2026) |
| 20 May 2026 | 6-K(20 May 2026) |
How to read this page
Costs are the company's own consolidated all-in sustaining cost (gold, silver) or C1 cash cost (copper), as stated, on the basis the company states; the reference price is the quarter's average from World Bank Commodity Price Data (CC BY 4.0); the margin is that price less the stated cost, a production-cost spread and not company net profit; financials are as filed in the filing currency, never converted; report dates are confirmed from the company's notice or estimated from its own past pattern and say which. The full methodology is on the Miner Margins page.