Shares slide on incomplete results. Hudbay Minerals Inc. (HBM) reported Q4 2025 revenue of $2.06B, down 28.6% year-over-year, as the copper miner released topline figures without accompanying EPS data. Shares dropped 2.8% to $24.20 in regular trading and slipped another 0.3% after hours to $24.27, extending a volatile three-month stretch that saw the stock surge 56% from mid-November lows before giving back recent gains.
Revenue contraction reflects sector headwinds. The $2.06B quarterly revenue marks a significant decline from prior-year levels, pressuring the company’s $9.6B market cap despite copper prices hovering near multi-year highs. The absence of reported EPS figures—against a consensus estimate of $0.39 for the quarter—leaves investors without a complete picture of operational performance. Trailing twelve-month EPS stands at $1.16, yielding a P/E ratio of 20.9x, while forward estimates call for $1.64 per share, implying a forward multiple of 14.8x.
Profit margins compress despite copper exposure. The company’s operating margin of just 3.3% underscores the capital-intensive nature of mining operations, even as net profit margin reached 22.4% on the strength of non-operating gains. This disconnect between operating and net profitability warrants scrutiny as investors assess underlying business health. Average analyst price targets of $29.28 suggest 21% upside from current levels, with a consensus “strong buy” rating reflecting optimism about the company’s diversified asset base spanning Manitoba and Peru.
Copper World feasibility study looms. Management signaled during the Q3 call that a feasibility study for the Copper World project will complete by mid-2026, with a construction decision expected in the same timeframe. CEO Peter Kukielski emphasized the company’s “diversified operating platform” following wildfire evacuations in Manitoba and operational interruptions in Peru during Q3, highlighting operational resilience that will be tested again as the company pursues expansion capital. The timeline for Copper World represents the most concrete near-term catalyst for valuation re-rating.
Technical breakdown accelerates. After touching $28.74 on January 29, shares have surrendered 16% in three weeks, breaking below the 50-day moving average of $22.24 and testing support near the $24 level. Trading volume of 427,000 shares yesterday ran well below recent daily averages, suggesting capitulation may not yet be complete. The stock’s 64% rally over the past six months has attracted momentum investors who may now reassess positions absent clearer earnings visibility.
This article was generated using AlphaStreet’s proprietary financial analysis technology and reviewed by our editorial team.