Stock

Hudbay Minerals

HBM

Copper · Basic Materials

Also trades as: HBM.TO CAD 30.67 (-9.02%) · 0AHJ.L GBP 0.31 (-8.28%)

Price

$21.89

-2.10 (-8.75%)

Market Cap

$9.72B

Exchange

New York Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Oct 23, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality

Strong

21/30

Growth

Strong

16/20

Cash Flow

Strong

8/10

Stability

Exceptional

9/10

Valuation

Good

5/10

Ownership

Mixed

6/15

Dividends

Good

3/5

68 of 100 counted points = Winston Score 68.

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Share count rising — dilution

+51.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 261.5M (2021) → 396.6M (2025)

§Winston Score History

The full picture

Hudbay Minerals is a Canadian mining company that digs copper, gold, silver, and zinc out of the ground. It sells these metals to industrial buyers, manufacturers, and commodity markets that use them in electronics, construction, and electric vehicles. Copper is its most important product, making up the majority of its revenue.

Hudbay earns money by mining and selling raw metals at whatever price the global commodity market sets on a given day. It operates mines in Canada, Peru, and the United States, making it a mid-sized producer with a geographically spread-out asset base. The company's main competitive advantage is owning long-life mines with large reserves, which are expensive and difficult for rivals to replicate. The biggest risk Hudbay faces is copper price volatility — when prices fall, revenue and profits drop quickly since the company has little control over what its metal sells for.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+21.4% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+10.0% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

3.8%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$1.3B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Hudbay Minerals is a rare growth stock that's already generating positive cash flow while growing at 21%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

41.0%

Healthy — 41.0% gross margin

Profit after running costs

Operating Margin

36.3%

Excellent — 36.3% operating margin

Return on the money invested

ROCE

13.4%

Good — 13.4% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+13.0%

Fast-growing sales (+13.0% YoY)

Profit growth

EPS YoY

+130.3%

Earnings growing fast (+130.3% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

117%

Turns 117% of profit into real cash

Spare cash per sale

FCF Margin

9.9%

Modest free cash flow (9.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.19

Conservative — low debt load (0.19)

Covers its interest

Interest Cover

11.08x

Comfortably covers interest (11.1x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

13.0x

Attractive valuation — P/E 13.0

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

-0.9

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

0.05%

Small dividend — 0.05% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+19.0%

Dividend growing fast (19.0% YoY)

Payout Ratio

no trend

Pays out a modest share of profit and keeps the rest to reinvest. Room to keep paying through a weak year.

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