During the fourth quarter of 2025, Hudbay had consolidated production of approximately 33,069 tonnes of copper, 84,298 ounces of gold, 1,002,985 ounces of silver, 5,703 tonnes of zinc and 325 tonnes of molybdenum. Hudbay achieved 2025 consolidated production guidance for copper and gold, with full year production of approximately 118,188 tonnes of copper and 267,934 ounces of gold, based on preliminary fourth quarter results. In 2025, the operations also produced approximately 17,646 tonnes of zinc, 3,468,143 ounces of silver and 1,282 tonnes of molybdenum. 2025 represents the 11th consecutive year in which Hudbay achieved its annual consolidated copper production guidance, since Constancia declared commercial production, and 5th consecutive year achieving its annual consolidated gold production guidance, since establishing standalone gold production guidance.
Wall Street analysts forecast HBM stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for HBM is 20.63 USD with a low forecast of 17.24 USD and a high forecast of 24.79 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
Wall Street analysts forecast HBM stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for HBM is 20.63 USD with a low forecast of 17.24 USD and a high forecast of 24.79 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Buy
0 Hold
0 Sell
Strong Buy
Current: 25.430
Low
17.24
Averages
20.63
High
24.79
Current: 25.430
Low
17.24
Averages
20.63
High
24.79
Scotiabank
Orest Wowkodaw
maintain
$31 -> $37
2026-01-26
New
Reason
Scotiabank
Orest Wowkodaw
Price Target
$31 -> $37
AI Analysis
2026-01-26
New
maintain
Reason
Scotiabank analyst Orest Wowkodaw raised the firm's price target on Hudbay Minerals to C$37 from C$31 and keeps an Outperform rating on the shares.
TD Securities
NULL
to
Buy
upgrade
$17 -> $43
2026-01-22
Reason
TD Securities
Price Target
$17 -> $43
2026-01-22
upgrade
NULL
to
Buy
Reason
TD Securities resumed coverage of Hudbay Minerals following the close of the Copper World sale with a Buy rating and a price target of C$43, up from C$17. During the firm's period of restriction, copper and gold prices have increased materially, which is captured in the firm's revised estimates and increased price target, the analyst tells investors.
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UBS
George Eadie
Buy
initiated
$34.50
2026-01-08
Reason
UBS
George Eadie
Price Target
$34.50
2026-01-08
initiated
Buy
Reason
UBS analyst George Eadie initiated coverage of Hudbay Minerals with a Buy rating and C$34.50 price target. The firm says Hudbay is "diversified" copper producer with a "strong and organically funded" pathway to grow production in 2030 as Copper World ramps up, the analyst tells investors in a research note.
Citi
Buy
initiated
$23
2025-12-15
Reason
Citi
Price Target
$23
2025-12-15
initiated
Buy
Reason
Citi initiated coverage of Hudbay Minerals with a Buy rating and $23 price target. The firm sees the company's production lifting in the near-term and finds the stock attractively valued at current levels.
About HBM
Hudbay Minerals Inc. is a Canada-based copper-focused critical minerals company with three operations and a pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. The Company's operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). The Company's growth pipeline includes the Copper World project in Arizona (United States), the Mason project in Nevada (United States), the Llaguen project in La Libertad (Peru) and several expansion and exploration opportunities near its existing operations. The Copper Mountain Mine, located south of Princeton, British Columbia, is a conventional open pit, truck and shovel operation. The Constancia mine is located in the province of Chumbivilcas in southern Peru. Its primary production is copper, complemented by gold production and by-products, such as zinc, silver, and molybdenum.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
